You can read more about these changes in this article from Interest.co.nz and in the Financial Markets Conduct Regulations, Schedule 12 “Superannuation Scheme Rules.”
A pension transfer to a SIPP or NZ QROPS may not be relevant or appropriate in all instances. The decision whether or not to transfer is complex, and it is important to consider the benefits, risks and disadvantages before determining if a transfer is suitable. GBPensions recommends that all clients seek independent financial and tax advice, personalised to their individual circumstances.
Having considered the advice, if you deem a transfer is appropriate for you, you should think carefully about acting prior to 1st December 2016. Please note: you can still transfer your pension/s after this date, but you will be subject to the new legislation as noted above.
Please note: the information given in the table above is based on GBPensions’ understanding of current and proposed legislation, and is therefore subject to verification and change.
Original blog posted 7th April 2016. Updated for content 4th July 2016.