jspokes
8th February 2008, 01:46 AM
OK, so I've been reading, reading and re-reading all of the previous threads relating to pension transfers to NZ. Like many my eyes start to glaze over and before I know it it's time to walk the dog.
I am still awaiting my PR (via partnership) and am not in the healthiest of financial positions. I'll have around £50K to start our lives again and given the state of house prices and commodities I am tempted to transfer my UK pensions and take a percentage of them tax free immediately.
I haven't decided which schemes I will transfer and if indeed I will, as each are different (count 5) but I have been non UK tax resident for 5 years already, am 34 at the moment and as I understand it I could withdraw typically 40% of the schemes value (dog walking looking more attractive)
Has anyone been through this transfer process themselves without using money-grabbing-middle-men? I'm no financial whizz and cant think of anything worse than filling in tax forms, but if I can save money I will. How easy was it? Has anyone successfully been able to take a payment (40%?) once they've been non UK resident for 5 years?
Any guidance appreciated. Walkies!
Jon
I am still awaiting my PR (via partnership) and am not in the healthiest of financial positions. I'll have around £50K to start our lives again and given the state of house prices and commodities I am tempted to transfer my UK pensions and take a percentage of them tax free immediately.
I haven't decided which schemes I will transfer and if indeed I will, as each are different (count 5) but I have been non UK tax resident for 5 years already, am 34 at the moment and as I understand it I could withdraw typically 40% of the schemes value (dog walking looking more attractive)
Has anyone been through this transfer process themselves without using money-grabbing-middle-men? I'm no financial whizz and cant think of anything worse than filling in tax forms, but if I can save money I will. How easy was it? Has anyone successfully been able to take a payment (40%?) once they've been non UK resident for 5 years?
Any guidance appreciated. Walkies!
Jon