The exchange rate between the NZ dollar and British pound isn’t great. Should I wait until it improves?
GBPensions doesn’t offer advice about currency exchange. But, if a pension transfer is deemed appropriate, we would say that delaying it based purely on poor conversion rates is unwise.
If the exchange rate is an issue, you could, if you wish, “park” the transferred funds in a sterling QROPS until you feel the time is right to convert to your chosen currency. That conversion can happen far quicker than the time it takes for the actual transfer. Alternatively, transfers to a SIPP retain all monies in GBP (pound sterling) anyway.
Tony Chamberlain2022-10-06T14:41:05+13:00June 30th, 2020|FAQs|Comments Off on The exchange rate between the NZ dollar and British pound isn’t great. Should I wait until it improves?