[debnjohn]

Are we allowed to post links?
NZ article form Saturdays money section:

http://business.timesonline.co.uk/article/0,,8214-1684982_1,00.html

Hope I don't get banned :uhoh

John

[Timbo]

Inspirational stuff there John, thanks.
As for being banned for posting links, well I am still here despite my posting several (hundred?) over the past months. :laugh

[debnjohn]

Inspirational stuff there John, thanks.
As for being banned for posting links, well I am still here despite my posting several (hundred?) over the past months. :laugh

That's a relief :laugh I wasn't sure, some forums take a dim view of links to other sites :uhoh

Yes I thought it was quite an interesting article, especially the way Paul Collins' outlook on his career has changed. Haveing said that, they did have a v.good headstart (£220k at a favourable exchange rate). Best of luck to them (and all of us as well !)

John

[Carol]

Interesting.....although not particularly typical.

Cant see US retiring at 55 that's for sure!!
:wah
and the bit about private school made me laugh out loud! :roll:

[sarahw]

It was interesting - I would expect the majority of people probably move to better accommodation over here - (OK I don't mean double glazing etc - just size & what you get in comparison to what you get for your money in the UK) - I know we could never have afforded to buy a 4 bed detatched home in the UK near the sea with fantastic views... as for being better off - well I suppose it depends on circumstances - some people we know are way worse off over here, we're not as well off as we used to be but I choose not to work as hard (we could be if I wanted us to be), some people are better off - we have friends who earn more (NZ$ to UK£) than they did in the UK - so its a mixed bag really. On the whole though I'd say there are probably more people in the not as well off category than in the better off category.

The bit about the shoes made me laugh - maybe she should come on a shopping spree to Wellington - I've never seen so many shoe shops!

[veronica]

So much depends on how much capiral you can bring over with you. if you have owned your house for years in the uk and can bring enough to buy a house outright and have some left over then straight away you are ahead.

[Debbie]

Thanks for the link John, I found the artical so interesting that I contacted the financial advisor who wrote it to talk about possible things I might need to look into at some stage. I'm the first to admit I have the same reaction to finance planning as the rabbit has to the car headlights and having spoken to this man I feel like I've just experienced the same inevitable conclusion :uhoh . In short he has scare the blazes off me because I have done nothing about transfereing my pension, sorting out tax, ....and now I have a dead line. He tells me I need to sort this all out before I activate my 'not yet aquired PR' but as it was a free telephone call hasn't told me what I need to do. I don't mine paying experts for their info but I'm worried that advisors can capitalising on my fear so I am looking for a second opinion before I declare my finances a disaster. Can any one advise me of a reputable financial advisor with experience in emigration? :roll: I'm not suggesting this man is not reputable, he clearly is knowledgable but I would like 2nd opinions.
Thanks Debbie

[debnjohn]

Debbie, I'm no financial advisor, but don't be panicked into doing anythng with your pensions yet. There is no time limit, and nothing that cannot be arranged from NZ in ht efuture, AFAIK.
John

[markkellaway]

I'd agree with John on the pensions issue, you can seek advice when you get to NZ.

I know this may seem like a "head in the sand" attitude, but you may not make pension age, so don't spend too much time worrying about it before hand.

My pensions are pretty small, and I'm thinking I'll probably transfer them if possible, but probably next year when the rates are better (assuming that makes a difference).

Mark. :P

[foolsgold99]

From the Article

“Look into your pension options well before you leave the UK to maximise your options. Do not rely on standard advice from a UK pensions expert. You need to speak to a specialist who will be able to compare the benefits of retaining your UK scheme with transferring your pension pot to a New Zealand scheme. It can be possible to gain all your pension assets in cash without restrictions.

If I could do this, I'd have enough cash to clear my mortgage :P Does anyone know how to do this ??

[debnjohn]

From the Article

“Look into your pension options well before you leave the UK to maximise your options. Do not rely on standard advice from a UK pensions expert. You need to speak to a specialist who will be able to compare the benefits of retaining your UK scheme with transferring your pension pot to a New Zealand scheme. It can be possible to gain all your pension assets in cash without restrictions.

If I could do this, I'd have enough cash to clear my mortgage :P Does anyone know how to do this ??

Sounds good doesn't it! Don't believe it though. Even if it were the case then iIm sure you would be liable for tax on the transfer values, to make up for all the tax relief received on the original contributions.

My mate in Perth has 'cashed in' his UK pensions by transferring them to some form of trust fund he has set up. This trust fund (registered as a bona-fide company) then buys houses (using gearing) and lets them out. He lives in one of the houses, and pays rent back to the company (which is, of course, his pension fund). BUT he does not have direct access to the cash which was transferred. I 'think' that's right ?

John.

[adamsat]

I have left a very good pension scheme in the UK (index linked, final salaray scheme with 20 years contributions) and want to really find out what the my options are. I think it's very unlikely I'll be able to get any sort of access to the funds before I'm 60, but if I could, then a whole range of possiblities open up.

Anyone had any experience of state sector (or former state sector in my case) pensions.

[debnjohn]

I have left a very good pension scheme in the UK (index linked, final salaray scheme with 20 years contributions) and want to really find out what the my options are. I think it's very unlikely I'll be able to get any sort of access to the funds before I'm 60, but if I could, then a whole range of possiblities open up.

Anyone had any experience of state sector (or former state sector in my case) pensions.
Adam, my mate's pension was from the civil service. I'll ask him for some details & PM you.
John.