Prison Pension

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Old Jun 12th 2005, 3:38 pm
  #1  
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taffinkent will become famous soon enough
Default Prison Pension

Hello again,

We have been monitoring the PPS threads and have decided that we are definately thinking of accepting the offer of employment in Invercargill and are at the invitation to apply for residency stage with our visas. 2 x officers , no kids , none if small mortgage, one dependant dog !!!

The question we ask is what information has anyone recieved about our prison pension here ie.transfer, freezing???

We have contacted Bootle on numerous occasions and we are recieving conflicting information.

Also do the NZPPS have a pension scheme ( non contributary or not ) as I cannot get a definite answer from anyone ? If not , does anyone know if we can transfer our prison pension to a private pension in NZ?

Cheers

Taff and Debs
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Old Jun 12th 2005, 5:54 pm
  #2  
Don
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Default Re: Prison Pension

Originally Posted by taffinkent
Hello again,

We have been monitoring the PPS threads and have decided that we are definately thinking of accepting the offer of employment in Invercargill and are at the invitation to apply for residency stage with our visas. 2 x officers , no kids , none if small mortgage, one dependant dog !!!

The question we ask is what information has anyone recieved about our prison pension here ie.transfer, freezing???

We have contacted Bootle on numerous occasions and we are recieving conflicting information.

Also do the NZPPS have a pension scheme ( non contributary or not ) as I cannot get a definite answer from anyone ? If not , does anyone know if we can transfer our prison pension to a private pension in NZ?

Cheers

Taff and Debs
If you are in the UK prison service and entitled to a defined benefit or otherwise known as final salary pension, you'd be absolutely crazy to transfer it to NZ. Your UK prison pension is index linked and generous. The transfer amount would be low and not buy you anything like the same benefits in NZ.

You can't transfer your UK state pension. Your entitlement will be worked out according to how many years' NI contributions you have made - you can elect to continue contributing from NZ to get a bigger UK state pension which can be paid in NZ.

In any case, anybody transferring a UK pension to NZ would be extremely foolish until they were - say - 5 years in NZ and absolutely knew that NZ was for them, IMHO, unless we're talking a small amount.
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