Pension Transfers

Informed Decisions 

Pensions can be complex and it's important you obtain the right advice from an Authorised Financial Adviser.  First Capital is able to offer a comprehensive UK Pension Transfer service which clearly outlines both the advantages and disadvantages of any potential transfer. Our service, together with one of the most flexible NZ QROPS schemes available, including a wide range of NZ, Australian, US and UK investments, plus the flexibility to hold or invest in different currencies (including GBP) results in an unbeatable combination.

First Capital Financial Services offer an initial no cost consultation to help you answer your UK Pension questions and make informed decisions.


4 Year Tax Free Window

If you’ve emigrated from the United Kingdom, or are returning to New Zealand after working in the UK, it is important to carefully consider the options for the pension you’ve saved and if suitable transfer it to a Qualifying Recognised Overseas Pension Scheme (QROPS) in NZ. It’s wise to be fully informed and know your options for Final Salary schemes, Stakeholder pensions, and defined contribution schemes from the UK.

Since 1 April 2014, new migrants to New Zealand or returning New Zealanders may qualify for a temporary tax exemption on the transfer of the UK pension for a period of 4 years. When the tax exemption ends, any transfer must be declared in an annual income tax return in New Zealand. The tax is based on the number of years exceeding the 4 year tax free window, and increases with each passing year. As transfers can take up to 6 months from start and finish, it’s important to start the process early to ensure the transfer arrives before the end of exemption period.