Justcol

I wish i couldfind some info on personal pensions.
I've got one thats frozen in the uk and i want to transfer
it to a nz fund and conyinue paying but i cant find a pension provider??

BEVS

You'll need to transfer that into a Qrops scheme here. There are several companies out there that assist with this, for instance Broadbase is one , Spicers is another and your own bank may have a 'free' transfer service. The ASB do.
Your own UK pension provider would not consider a transfer unless they are satisfied it is a Qrops.
It may also be possible to transfer into Kiwisaver.

newkiwi

I imagine most of the bigger kiwisaver schemes will be approved to accept foreign private pensions from the UK.

Yotty

Don't forget Kiwisaver taxes gains in the fund at 33% ..

NZpom

Kiwisaver schemes do not tax at 33%, the tax rules changed this year International shares are now taxed at the 5% Fair Dividend Rate (FDR) and Portfolio Investment Entities (PIE's) tax at a maximum 30% but your Prescribed Investor Rate (PIR) can be lower depending on the earnings?



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mod note:- If anyone wants further info from NZPom , you are free to contact him direct via his link below , email or PM

Yotty

Thanks for the info NZ Pom .. as you probably know all gains in UK funds are tax exempt!

RobClubley

Until you've been in NZ for 5 years, then I believe you have to start paying tax on the earnings.

Yotty

I just don't think it's worth me converting .. I've got just over 7 years till I'm 60 and I'd probably be better staying in my DB scheme here in the UK. I don't think any NZ pension could match that..

roygifford

all you need to look at really for UK pension transfers is this link
http://www.hmrc.gov.uk/pensionschemes/
it gives you a list of qualified providers that you can transfer your pension fund to. from there, both the government and the person you pick will be able to help you deal with it.