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Category Archive for: ‘Australia news’

Foreign advisers scamming NZ and OZ based UK pension holders

For years the Australian and New Zealand regulators have been building strong regulatory regimes aimed at protecting people living in their countries from bad investments. The central plank of regulations in Australia and New Zealand is that you must be regulated in those countries to provide financial advice to people living in the countries. Seems logical enough right, particularly because …

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Huge pension fund deficits are a global crisis in waiting

Ania Zalewska, University of Bath In the past decade, the banking industry has been a central focus of attention for regulators, academics and the general public. The 2007-08 financial crisis led to new regulations and institutions to keep things in check.   In contrast, the issues of the pension industry have tended to be swept deep under the carpet. Much …

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Now harder than ever to transfer a UK pension

It’s never been harder to transfer a UK pension to New Zealand. Over the last three years UK government agencies have put up consistent barriers to stop the outflows of UK pensions to overseas schemes (QROPS). Some barriers have been direct, like the shutting down of pension transfers out of public sector schemes like the NHS, teachers, civil service and …

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UK budget: Overseas transfer charge

On the 9 March 2017, the UK Budget introduced with immediate effect an “Overseas Transfer Charge” (OTC) which is a 25% tax charge on transfers to QROPS from UK registered pension schemes unless: The member is tax-resident in the same jurisdiction as the receiving QROPS. So a transfer from a UK registered scheme to a New Zealand QROPS for a …

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Brexit is leading to “eye-watering” UK final salary scheme transfer values driving more transfers – but for how much longer

For decades people in the UK have been told that final salary (or defined benefits) pensions are ‘gold plated’ and the perception has been established that defined benefit pensions should never be transferred. This has always been the opinion of the Financial Conduct Authority of the UK and of course the schemes managing these pensions, with an advance payout of …

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Despite Brexit concerns New Zealand QROPS come of age with UK pension transfers topping a billion dollars in last two years

For many years transferring a pension from the UK to New Zealand was not the norm with confusing legislation and tax compliance issues. All that changed in late 2013 when the Inland Revenue proposed a tax amensty on UK pension transfers that suddenly thrust the decision of whether to transfer under peoples noses. This led to a wall of UK …

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Brexit pension transfers consequences

There has been a lot of talk of the general implications of the Brexit vote. But what, in practical terms, is it likely to mean for those with UK pensions and those thinking about transferring their pensions out of the UK. In this article we look at each type of pension, final salary and contributory, to understand the implications for …

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Exploring hidden value in CETV’s

We see many examples of people receiving and accepting a cash equivalent transfer value as gospel and what’s more their supposed ‘QROPS pension transfer’ experts that they have engaged do the same. So why do people blindly accept these transfer values? Usually it’s because they feel that the calculations that have produced them are extremely complicated.   Our experience shows …

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Australian QROPS list what is really going on

  Much has been made of the fact that Australian pension transfers are increasing at a dramatic rate as the number of schemes on the Australian QROPS list expands – because people are setting up their own self-managed super funds (SMSF’s). However, lifting the lid on this shows that in the last six months around 110 new Australian QROPS have …

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Pension transfer times blow out causing tax headaches

  Pension transfer times have increased dramatically since the introduction of new regulations in the UK form 6 April 2015. In a raft of legislative changes the HMRC: Now require UK pension schemes to undertake their own due diligence on the schemes that they are transferring to Require any transfer of a defined benefits scheme where the value is over …

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NZ free phone:0800 102 599 / OZ Free Phone:1800 857 410 / Email:info@qropsnz.com

very stress free

Thank you Cambel for your help and guidance throughout this process in getting my pension transferred (very stress free for me). It is greatly appreciated and I would certainly recommend you and Charter Square to others who are interested in transferring their pension.

David R, New Zealand

You guys rock!

I just wanted to say a great big thank you to you and your team. You are all totally awesome. I received a cheque yesterday from the Prudential to apologise for the ‘recent inconvenience’ that I had experienced. Thank you for doing this for me. You guys rock!

Noelle B, New Zealand

professional, insightful

Charter Square were professional, insightful and a pleasure to work with. They rose to the challenge of consolidating my overseas pensions and bringing them home with minimum fuss for me and maximum effort on their part.

Jens H, New Zealand

thorough, professional and prompt

Very thorough, professional and prompt service from the team at Charter Square. Thanks for making the bewildering world of pension transfers super simple.

Jules T, New Zealand

Best party to deal with

Thank you kindly for keeping in touch with me. For now, I will not be moving my pension. I will however be keeping your details and referring back to you when I wish to pursue. You by far are the best party to deal with, no nonsense, professional and in my opinion genuine. I do sincerely thank you for your advice to date.

GE, New Zealand

Freedom

Securing the freedom to use savings that are actually ours to work with has been stressful in the extreme. While I never planned on giving up there were many times when the current (UK) holder made the whole process seem well beyond my determination and ability. It’s easy to look at the 36 month history of this claim with the benefit of hindsight, but the conclusion is that employing Charter Square in the first instance would have been wise had I been able to anticipate the red-tape that appears to have been deliberately created to stall access.

CP, Auckland
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