Often there are complex external variables at play when considering your UK pension and whether it should be transferred or left in the UK. You might be in the process of separating (or have separated), you might have recently arrived in New Zealand, you might be wondering why you need FCA advice. Whatever these variables are we have produced a series of handy guides to help you through the process.
Options Guide - a guide to what you can do with your UK pension
Leave no stone unturned in exploring what you can do with your UK pension.
This guide goes through on a step by step basis what options are available with your UK pension from:
- Leaving it where it is
- Transferring it to another UK scheme
- Transferring it to an NZ QROPS – and what options are available
And when might be the best time to use these options with practical examples and reasons why.
Arrivals Guide - a guide for those that have recently arrived in New Zealand
If you have just recently arrived in New Zealand UK pensions might not be top of mind.
This guide takes you through step-by-step some of the administration that you are going to need to sort out, including:
- Making sure your details are up to date with your UK scheme
- Getting all the relevant information on your pensions in one place
- What the key considerations for you are now
This is a very practical guide if you have been in New Zealand for less than four years.
UK FCA advice guide - what is it, when is it required and how do you get?
Some defined benefit, contracted out and guaranteed annuity pensions require specialist UK advice before they can be transferred to a New Zealand QROPS.
This guide outlines:
- What type of pensions will require FCA advice
- What you get from the FCA adviser
- The steps in the process of getting FCA advice
- What it costs for FCA advice
UK FCA is a protracted and lengthy process and it’s important that you get it right.
Transitional Residence Guide - a guide to who qualifies and what the benefits are
Transitional tax residence is a special tax status that give tax free growth on some assets (which can include some QROPS).
This guide outlines:
- Who qualifies for transitional residence (a step by step flowchart)
- What the benefits of transitional residence are
- How to take advantage of those benefits
The determination of transitional residence can be complicated and we recommend you talk to a qualified tax adviser about your specific circumstances.
Separation guide - a guide to dealing with UK pension transfers and QROPS on separation
Going through a separation is difficult, splitting a UK pension can be even more difficult, particularly as the benefits from the scheme can be hard to value.
This guide outlines:
- The value of a UK pension and transferring it
- Agreeing on value to be split
- Getting a court order
- Rules on the funds post split
The guide is based on our years of experience in dealing with UK pension splits.
