getting it right
there’s no slam-dunk on pension transfers
you need to follow the process to get the decision right
So often people contact us after they have transferred their pensions, or let them come into payment in the UK asking how we can help. In many instances there are people that have transferred who should not have, or people who should have transferred but because of inaction never did and now their pensions are stuck in the UK. There are a bewildering set of variables to determine what the right course of action including: tax, where you intend to end up living, what type of UK pension you have, what you want to achieve with your pension, to name but a few. Without understanding all of these and there interplay you can’t make the right decision. And the right decision is based on being informed.
The process on how we help you get to an informed decision is outlined below.
1# Collecting the relevant information
You provide us with information on yourself that is going to be important for our assessment of your situation. Dates you were in the UK, details of your UK scheme, when you arrived in your country of residence, what your future intentions are and so much more.
Then we go away and collect a bucket load more information on your UK pensions from your pension providers. That’s right we do all the heavy lifting for you, contacting them through our dedicated UK team who continuously chase for the information we need.
2# Analysing the information
We crunch all the information that we collected to determine whether the transfer value is right, what your tax liability might look like, what the financials of a pension transfer and a leave the pension in the UK look like.
This is the brains part of our analysis.
3# Reporting on your options
The decision to transfer a UK pension is a big one and you need to fully understand the financial and tax implications. We provide a customised report that assesses:
- The pro’s and con’s of a transfer
- The tax implications of leaving the pension or transferring it to New Zealand
- What happens if you have a future change of circumstances
- The financial impact of transferring a pension to New Zealand
- What valuable benefits your UK pension may contain
4# Making an informed decision
If a transfer looks like the right thing to do – you then need to select the right New Zealand QROPS for your current and future needs. This is not a one size fits all scenario. We work with you to assess variables like your tax status, investment profile and whether you want to invest in sterling funds or kiwi dollar funds and future intentions to name but a few to determine the right scheme for you.
Our independent licensed NZ advisers then work with you to select the right NZ QROPS scheme and because we are not tied to any one scheme you won’t get shoehorned into a scheme that doesn’t fit – Instead, we help you select the right one for you!
With these important steps complete we start the transfer process – we complete all the necessary forms all you need to do is sign them. We will then make sure your UK funds get transferred to your chosen New Zealand QROPS. Transferring your UK pension to a New Zealand QROPS will be one of the more important financial decisions you make, right up there with buying a home or making other important investment decisions. Our processes ensure you’ve made this decision fully informed so you can rest assured you have done the right thing.
Your dedicated case manager on our UK team will work with your New Zealand based consultant to ensure your transfer to a New Zealand QROPS runs smoothly from start to finish.
but we don’t stop there we continuously assess
The final step in the QROPS transfer process is ongoing. Because the HMRC wants to know what is going on with your funds for 10 years after you transfer your UK pension to a QROPS, you need to know that the QROPS you are going into has longevity and is committed to reporting.
get in the know
get a free detailed assessment and report on your
UK pension and what it means to leave it or transfer it
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.
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.
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!
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.
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.
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.
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.