- University lecturers
- Armed forces personnel
- Police officers
- Prison officers
- Fire fighters
- Civil servants and local government employees
Traditionally, Britons have been cautious about moving their UK pensions. However, due to the current UK financial climate of low interest rates and even worse annuity rates, transfer values quoted by schemes in the Club may never be as high again in relative terms. Therefore, combined with the new NZ tax rules and the April 2015 deadline looming, it would seem that greater consideration than ever before is required in assessing the viability of transferring a UK pension scheme.
GBPensions are keen for our clients to have realistic expectations about the timescales involved in a pension transfer. Six months is a reasonable prediction, especially since it is not unusual to wait 12 weeks (or longer) to receive documentation back from the former UK employer.
Tony Chamberlain comments, "Members of the Club already account for about 15% of our clients. For obvious reasons, we're expecting this number to increase dramatically over the next two to three months."
For a copy of the full list of UK schemes in "the Club", or to find out if you are affected, please contact us or give us a call on 09 414 2089.