Objective advice regarding UK Pension Transfers

The UK pension scheme that suits you best.

Because we are not aligned with any one scheme or organization, becoming a client of Diligent Wealth Management gives you access to a wide range of Qualifying schemes and funds to transfer to and invest in. We are completely independent of all New Zealand schemes and funds we can transfer to and invest in, so we can match you with the scheme that best meets your needs from both an investment and tax perspective.

Our advice is backed by a wealth of research on QROPS schemes, on and off shore funds, investment strategies, market commentary and insights. Applying these skills to your transferred funds will help you build a portfolio of investments that match your risk profile and meet your investment objectives to take you through to and beyond your retirement.

We truly are a 'one stop shop'.

We guarantee you’ll get your decision to transfer completely right by ensuring you are fully informed about all aspects of the transfer, before you transfer. There will be no nasty surprises waiting for you post transfer.

We cover all aspects of the transfer

We are with you at every step of the journey, and will keep you fully informed and advised including comprehensive written reports that detail:

• Your transfer Value
• Benefits you’ll be giving up in the UK if you transfer
• Your tax situation in New Zealand after a transfer
• Importantly if you have a tax liability on transfer
• We’ll also provide a full analysis showing you the difference between leaving the pension in the UK or transferring it to New Zealand so you can see in financial terms if you are better off or not
• Once you have the pension report we get on with the financial advice and the receiving scheme and funds selection that covers:
  • Comprehensive consultation on the type of receiving scheme in New Zealand that matches both your tax situation and your investment objectives to take you through to your retirement
  • You’ll understand what the tax and investment benefits of the selected scheme offer based on the time you have been in New Zealand, your age and accessibility

Sorting any tax liabilities

If you have a tax liability on transfer:

• We’ll tell you the most tax effective method for declaring your transfer
• How much that tax liability is and when it’s due
• We’ll also update you with a report for your accountant on the exact liability following the transfer based on the exchange rate of the day

You needn’t go anywhere else.

Should you transfer or not?

We’ll provide a full analysis showing you the difference between leaving the pension in the UK or transferring it to New Zealand so you can see in financial terms if you are better off or not.

Next steps?

Once you have the pension report, we get on with the financial advice and the receiving scheme and funds selection that covers:

• Comprehensive consultation on the type of receiving scheme in New Zealand that matches both your tax situation and your investment objectives to take you through to and beyond your retirement.
• You’ll understand exactly what the tax and investment benefits of the selected scheme offer you based on the time you’ve been in New Zealand, your age and accessibility.

Free advice guarantee

If you decide not to transfer after receiving our reports, we won’t charge you for the benefit of all our expertise and advice. It’s critical you get the best pension transfer advice, so you can make an informed decision. We’ll help you to decide whether leave it in the UK or transfer it to your new home base in New Zealand.

UK pension transfer FAQ

Who can Transfer UK Pensions?

• UK nationals that have migrated to New Zealand
• Returning New Zealand citizens
• Non-UK nationals with UK Pension benefits who have migrated to New Zealand
• Residents of Australia with International pensions
• Residents of Australia with UK pensions (subject to the Overseas tax charge)

What can’t be transferred?

• Unfunded public sector pensions, such as NHS, Teachers, Civil Service, Armed Forces, Metropolitan
  Police
• Unfunded Local Government pensions

Already receiving income from an annuity purchased from benefits accrued from your UK Pension Scheme? Then, you may not be able to transfer your UK Pension to New Zealand. However, there are some exceptions to this rule.

What can be transferred?

• All Defined Contribution or contributory schemes (DC pensions)
• All non-public sector Defined Benefit and Final Salary pensions (DB pensions)
• Most funded or partially funded Local Government Pension Schemes (LGPS)
• Self Invested Pension plans (SIPP’s)

Why consider a UK pension transfer to New Zealand?

Managing your UK Pension Scheme when based in New Zealand can be challenging at best. Dealing with your pension in another time zone often without the help of a financial adviser may mean you’ve completely forgotten about it or simply put it in the too hard basket.

A transferred pension will rekindle your interest in an important financial asset. With the benefit of proximity our clients find their UK pension assets get the care an attention they deserve as well as the added benefit of improved and less complicated access.