Transferring UK pensions

Have you worked in the United Kingdom and now plan to live and retire in New Zealand? If so, do you have a pension scheme from your UK employment that you would like to transfer to New Zealand?

Your pension provider in the UK will be able to tell you what options you have if you have permanently emigrated from the UK.  One option is that you may be able to close your UK pension scheme and transfer a lump sum payment into a New Zealand registered superannuation scheme. The New Zealand scheme must have Qualifying Recognised Overseas Pension Scheme (QROPS) status.

A very useful website containing information on QROPS is the site for Her Majesty’s Revenue and Customs, see home page:

www.hmrc.gov.uk/pensionschemes/index.htm

On this site, you will find information about transferring the value of your UK pension scheme to a QROPS scheme. There is guidance about how to transfer your pension, and information about the legislation and regulations governing QROPS schemes. There is also a list of New Zealand superannuation scheme providers that offer approved QROPS schemes.