[Debbie]

I start by declaring I know very little about pensions, but I am looking for some clarity please
I have been lead to believe that there are tax implication if you do not transfer your pension from the UK to NZ within the financial year in which you activate (first use) your visa. (I hope that makes some sence :uhoh )

Any info would be greatfully received as we need to plan a trip to NZ and going after we get (hopfully) the longed for visa would be better for job hunting but may need some carefull pension planning on our part if the above is going to hit us hard financially. Any idea if the above is true? What rate of tax do you pay if you choose to transfer later?

Any one any experiences of using a financial advisor with special knowledge of UK to NZ.

[StevieD]

I am in the same boat as you - haven't the foggiest about it. I have a few occupational pensions to find out about, but haven't got around to contacting them yet. It may be wise to consult, but at what cost?? I think I'll contact my last company pension scheme adviser and ask there first.

[jo b]

Stevie,

There is an organisation which helps you trace the head office of companies and they send you a form to fill in.

The org is.

The Pensions Schemes Registry
Opra,
PO Box 1NN
Newcastle upon Tyne
NE99 1NN

Hope this helps for those of you wanting to track down old pension schemes.

Jo

[Wannaway]

The NZ tax system has a feature in it that taxes an individual's interest in "foreign investment funds", this includes interests in overseas pensions funds (don't get me started on this subject - another feature of a regressive tax regime). This may be what you have heard about. However, you are exempt from the rules (and therefore NZ tax) for the first four years following arrival in the UK. This gives you enough time to decide whether or not you want to stay and then, if you do stay, transfer pension funds at that point in time - that way you may avoid the costs of transferring when coming to NZ and then costs of transferring back to the UK should you decide to go back.

There is an outfit at www.ukpensionstonz.co.nz (could be a .com or .co.uk domain). I haven't tried them personally, but it may be worth checking them out as well.

[Debbie]

Thanks for that wannaway, give us a place to start looking.