• Potential mitigation of NZ tax liability on receipt of overseas funds, be that by transfer or withdrawal of benefits.
  • Retirement benefits payable from NZ schemes are treated as exempt income with no tax payable in NZ.
  • Death benefits payable from NZ schemes are made 100% free of NZ income tax – payments from a UK scheme are not after age 75.
  • Potentially larger lump sums can be paid without deduction of tax from NZ schemes compared to UK schemes.
  • Some NZ schemes can hold funds in various currencies, thereby allowing currency exchange rate risk to be mitigated, whereas most UK schemes have no such facilities.
  • Transfers to a SIPP can potentially allow up to 100% of the UK funds to be withdrawn without a UK or NZ tax liability.
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