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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 pension transfers hitting New Zealand and putting UK pension transfers into the consciousness of British expats and New Zealanders who had lived and worked in the UK.
Since then UK pension transfers have become mainstream with over $1.5billion being transferred into New Zealand schemes (excluding KiwiSaver schemes) over the last four years (as shown in the graphic below).
Amount of transfers to NZ
Source: Annual reports of New Zealand superannuation schemes that are listed as QROPS
Ancedotal evidence from New Zealand QROPS is that the trend for transferring has continued at pace since March this year. This is particularly interesting given the impact of Brexit, which has thrown up a wave of concern and a weaker Pound (even as recently as last year it was at $2.40 compared to the current $1.75 level).
With most New Zealand QROPS now offering sterling denominated funds the previous issue of being forced into dollar denominated funds has disappeared. And the sterling funds have certainly been popular with most transferees since the Brexit vote, especially as there is more control over when they can be converted into dollar funds. This level of control and flexibility is in sharp contrast to the previous system of waiting for the desired exchange rate then starting a transfer which then took six months by which time the exchange rate was anyone’s guess.

NZ free phone:0800 102 599 / OZ Free Phone:1800 857 410 /

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


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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