Malta regulator gets tough – leaves NZ and OZ residents with Malta QROPS stranded

Over 30,000 people have transferred their UK pensions to a Malta QROPS even though they don’t live there.  We have spoken with many Malta QROPS pension schemes and they have confirmed to us, “they have plenty of New Zealand and Australian resident members that have transferred in UK pensions”.  This is surprising given no authorised financial advisers we know of in New Zealand or Australia would ever recommend Malta as a good place for pension transfers for New Zealand or Australian residents, simply because of the lack of double tax treaties. 

Malta is now bringing in new rules for people with funds there that require them to be adviser by an adviser regulated in the country they live in.  Large numbers of people will be without an adviser to contact regarding their Malta QROPS because their original adviser will not be allowed to.

Because of these changes New Zealand and Australian based holders of pensions in Malta QROPS will likely be left high and dry by the adviser that helped with their pensions, that is, if you have not been already.

If you live in New Zealand or Australia and have a pension in Malta, Gibraltar, Guernsey, Isle of Man or Jersey you really should understand what your current position is; will you continue to have an adviser dedicated to managing your Malta QROPS or for that matter pensions in any of the other jurisdictions? If not take steps to remedy the situation. You really should check that your financial adviser is able to fulfil their obligations in accordance with these significant rule changes. If you do not have a New Zealand or Australian based adviser to help you manage your Malta based or other offshore pension and at the same time evaluate if transferring it to a New Zealand based scheme is a good idea or not then contact us.  The sooner you act the better able you’ll be to protect what’s likely to be an important financial asset”.



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straightforward and painless

Until now I'd imagined my UK pension funds being locked away behind all manner of firewalls and bureaucratic hurdles to access on retirement. Before committing the one surviving official document of my English OE to the bin - a single page detailing my private pension details - I contacted you out of curiosity. The result feels a little like winning lotto.

Peter W

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