Got a burning question ask us

Category Archive for: ‘General’

Advisers scamming NZ and OZ based UK pension holders

For years the New Zealand regulator has been building a strong regulatory regime to protect people from bad advice and worse investments. One of the first principles in this protection is a ban on cold calls selling financial services.   A second principle is giving a fair and balanced view in advice.   So if you are cold called telling …

Read More

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 …

Read More

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 …

Read More

UK final salary transfer values falling

U.K. pension deficits fell to the lowest level since the end of 2015, dropping 10 percent in June as yields on government bonds rebounded. The gap between the assets and obligations of U.K. defined-benefit pension plans dropped to June 30, 2017, according to the latest PricewaterhouseCoopers LLP’s Skyval Index. The index tracks around 6,000 defined benefit schemes in the U.K. …

Read More

The Evolution of New Zealand QROPS

Having been involved in pension transfers since 1999 we have seen it all. What started out as a cottage industry helping New Zealanders and British expats that had moved to New Zealand get their pensions into the same the country that they lived in has grown into something bigger and ultimately better.   History can teach us a lot, because …

Read More

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 …

Read More

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 …

Read More

Foreign currency fees in New Zealand schemes

Most New Zealand QROPS superannuation schemes are in the business of passing on benefits to their members. This extends to foreign exchange rates. Many have negotiated really good deals with banks and get exchange rates a little bit above a wholesale rate. These rates are almost always better than money brokers such as HiFX so members really are getting the …

Read More

New FMCA rules reduce number of NZ QROPS

On 1 December 2016 the number of New Zealand QROPS reduced dramatically, at that date there were only seven schemes that were open to new members and therefore capable of being QROPS. On the same date there were 31 New Zealand schemes showing on the ROPS list kept by the HMRC. It’s a big difference with serious implications.   Everyone …

Read More

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 …

Read More

Page 2 of 4«1234»

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
/* ]]> */