Here's a fact that may surprise you. Up to 20 per cent of GBPensions' clients aren't British. The team also helps returning Kiwis and other expats who've lived and worked in the UK and have now decided to settle in New Zealand.
What are the UK pension transfer options for returning Kiwis?
New Zealanders who are coming home essentially have the same choices available for their UK pension as anyone else – be they British, French, American, South African, or any other nationality.
These radical changes were designed to give savers more choice over how and where they could invest their UK pension funds, potentially liberating many from the shackles of having to buy an annuity to provide an income for life (which had previously been compulsory for many UK pension schemes).
Are you sure you want to transfer your UK pension? Hang on a minute! Don't act until you understand all the options and implications.
I've already transferred my UK pension to a NZ QROPS. Is it possible to switch to another pension scheme?
SIPP or NZ QROPS? How might changes to UK pension legislation in 2017 affect your UK-NZ pension transfer options?
The Chancellor of the Exchequer used his Spring Budget to announce that, with effect from 9th March 2017, pension transfers by UK residents to QROPS (Qualifying Recognised Overseas Pension Schemes) not in the European Economic Area will be liable for a 25% tax penalty. Philip Hammond said that this policy was being introduced in the interests of "fairness in the tax system."
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