The Craigs Superannuation Scheme is registered under the Financial Markets Conduct Act 2013 and is able to accept transfers from UK Pension schemes. A key feature of the Craigs Superannuation Scheme is the flexibility provided by the range of available investment options. We’ll help you to select specific shares, funds, and other securities and help you seamlessly transfer your funds to New Zealand.
How it works
Craigs Superannuation Scheme is a managed investment scheme. Your money will be pooled with other Craigs clients, giving you broader investment options while not having to worry about minimum holding requirements.
Your returns will of course depend on the performance of your selected investments, so you can expect the value to change based on market conditions and your specific preferences. If you wish to change the composition of your portfolio, simply speak to your investment adviser.
By joining the scheme, you’ll also have access to our Private Wealth research material. For any other questions, you can count on the personalised support and knowledge of our advisers. The fees charged are outlined in the Product Disclosure Statement which is available below.
Why Craigs Superannuation Scheme?
- You can transfer your UK Pension while retaining international investment options.
- You can select your investment portfolio to suit your risk profile and investment objectives from our short-list of over 240 Australasian and international shares (equities), funds and other securities. These are recommended by our research team for you to consider including in your portfolio.
- Access market-leading research and analysis.
- Have the flexibility of a cash account.
You can download our Craigs Superannuation Scheme Investment Options Supplement and read more detailed information and get the Craigs Superannuation Scheme Product Disclosure Statement here
Craigs Superannuation Scheme FAQs & Documents
The Scheme can accept transfers from UK pension schemes. If you transfer your UK pension to the Scheme, your savings will be governed by the terms and conditions of the Scheme, and the terms and conditions of your UK pension scheme will no longer apply. Any transfers from a UK pension scheme or other QROPS will be treated as UK derived contributions in the Scheme and subject to the relevant legislation relating to UK pensions and QROPS (“QROPS rules”).
UK pension transfers could attract a UK Overseas Transfer Charge (“OTC”) of 25% of the amount of your UK derived contributions if you are not a New Zealand tax resident when you transfer your UK pension to the Scheme. This OTC may also apply if your tax residency changes while you are a member of the Scheme within five full UK tax years from the date of your original UK pension transfer. The transfer charge may also apply if specified information has not been provided to the UK scheme administrator. We may refuse an application for a UK pension transfer, at any time in the process, without giving a reason.
More information on contributions is available in the ‘Other Material Information’ document, on the offer register disclose-register.companiesoffice.govt.nz and craigsip.com/documents.
If you transfer your UK pension and subsequently leave New Zealand becoming a non-tax resident within the first five full UK tax years after the original transfer, you could become subject to an OTC of 25% of the original transfer value. You must tell us within 60 days if your country of residence changes. If the OTC is payable, we will arrange to make the payment from your Scheme account to HMRC on your behalf.
If you wish to withdraw funds from the Scheme, you must give written notice. Please contact your Craigs Investment Adviser who can supply the relevant withdrawal form. A withdrawal request cannot be withdrawn once submitted.
If your Scheme member balance exceeds the prescribed amount (currently $15,000) when you die, your Scheme balance will be paid to the Executor(s) or administrators of your estate (as applicable). We will require a certified copy of the probate, or where there is no will, a letter of administration.
If your Scheme member balance does not exceed the prescribed amount (currently $15,000) when you die, and subject to certain other conditions being met, we may pay your Scheme balance to an eligible claimant under the Administration Act 1969. We will require a certified copy of the death certificate and will (if any).
Funds in a superannuation scheme are designed to help provide for your retirement and are therefore generally not available to be withdrawn until you reach the age of entitlement.
Age of entitlement and other withdrawal restrictions will depend on whether you are withdrawing UK derived contributions or contributions that are not derived from the UK.
For further details, please see the Scheme’s Product Disclosure Statement.
How can we help?
Managing retirement
You may be thinking about retirement, or perhaps you’re already there. We’ll work with you to manage and protect your wealth so you can head towards the lifestyle you want and deserve.
Personalised investments
If you’d like the help of an expert adviser to develop a tailored investment strategy specific to your financial goals. We have a range of services and solutions that can be personalised to you and your family. Simply share your vision and we’ll map out the steps to get you there.
Growing wealth
Everyone’s approach to wealth is truly personal, so our approach to growing it for you is as unique as you are. We focus on your beliefs, values and ambitions, making our private wealth solutions tailored for you.
Craigs Women's Wealth
For over 15 years, Craigs Women’s Wealth has empowered women to begin investing. By improving financial confidence and knowledge, we’re proudly helping create better outcomes for women, their families, and the wider community.
Why Craigs?
Expert advice in your region
Our locally-based expert advisers are here to provide comprehensive investment advice and we’ll support your financial aspirations with detailed, research-based insights. With a network of 19 locations nationwide, our expertise is never far away to help you achieve your investment goals.
Global and domestic research at your fingertips
Our research team is one of the largest in New Zealand. They deliver the very latest in local and global market insights. This includes detailed information and expertise on sustainable investing to support more considered investment choices.
Supporting Kiwi investing
We’ve been a proud kiwi business since we first opened our doors in 1984 and we’re 100% owned by current and former Craigs’ staff and directors. Today we are one of New Zealand’s leading investment advisory firms. During that time, we’ve assisted over 65,000 kiwis on their individual investment journey.