UK pension transfers
Transfer your UK pension to the NZ Funds Managed Superannuation Service and take advantage of our comprehensive and FREE transfer process.
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1. NZ Funds Private Wealth charge $0 to transfer your UK Pension if you have chosen to use a non NZ Funds Private Wealth financial adviser you may incur a fee.
2. Britannia – Britannia Retirement Scheme. Pension transfer costs represent a contribution fee charged by an external financial adviser of up to 2.5%, disclosed in Britannia’s PDS dated 22 March 2018.
3. NZ Funds will not facilitate the deduction of a transfer advice fee that exceeds $1,000 (including GST) for any other financial adviser.
4. Where a non NZ Funds Private Wealth financial adviser charges a transfer fee NZ Funds may reimburse the client directly up to a maximum of $1,000.
Please note: for both schemes if you are transferring from a UK Defined Benefit Scheme you may also need to pay additional UK financial advice fees. Comparison based on NZD/GBP exchange rate on 29 March 2019.
1. NZ Funds Private Wealth charge $0 to transfer your UK Pension if you have chosen to use a non NZ Funds Private Wealth financial adviser you may incur a fee.
2. iSelect – iSelect Superannuation Scheme. Pension transfer costs represent a contribution fee charged by an external financial adviser of up to 5%, disclosed in iSelect’s Other Material Information dated 21December 2018.
3. NZ Funds will not facilitate the deduction of a transfer advice fee that exceeds $1,000 (including GST) for any other financial adviser.
4. Where a non NZ Funds Private Wealth financial adviser charges a transfer fee NZ Funds may reimburse the client directly up to a maximum of $1,000.
Please note: for both schemes if you are transferring from a UK Defined Benefit Scheme you may also need to pay additional UK financial advice fees. Comparison based on NZD/GBP exchange rate on 29 March 2019.
1. NZ Funds Private Wealth charge $0 to transfer your UK Pension if you have chosen to use a non NZ Funds Private Wealth financial adviser you may incur a fee.
2. Booster – Fidelity Super – Super Plan, Number 3. Pension transfer costs represent a contribution fee charged by an external financial adviser of up to 5%, disclosed in Booster’s PDS dated 1 February 2019.
3. NZ Funds will not facilitate the deduction of a transfer advice fee that exceeds $1,000 (including GST) for any other financial adviser.
4. Where a non NZ Funds Private Wealth financial adviser charges a transfer fee NZ Funds may reimburse the client directly up to a maximum of $1,000.
Please note: for both schemes if you are transferring from a UK Defined Benefit Scheme you may also need to pay additional UK financial advice fees. Comparison based on NZD/GBP exchange rate on 29 March 2019.
who use the NZ Funds UK pension transfer process
If you or your spouse expect to live a long time past the agreed retirement age then these can be great for you. However, the main risk in such plans is the provider getting into financial difficulties and being unable to honour their promises. Which is why the UK government set up the Pension Protection Fund in 2008 as a backstop albeit not a full one. Since 2015 government funded defined benefit pensions (NHS, teachers police etc) are no longer allowed to be transferred to a QROPS.
Since 2015 government funded defined benefit pensions (NHS, teachers police etc) are no longer allowed to be transferred to a QROPS.
The value of your pension is based on a mix of contributions and investment returns over time.The details provided by your pension provider on their regular statements will tell you which type of pension scheme you have.
