Importantly, our specialist UK Pension Transfer team, with local and UK market knowledge, can provide you with information and help you with the process of transferring your UK Pension to New Zealand. We will help you understand the information from your UK pension provider so you can make an informed decision.
Transferring your UK Pension
Managing a UK Pension Scheme from New Zealand can be challenging. By choosing to transfer your funds to our Craigs Superannuation Scheme account, you’ll benefit from the knowledge of a local adviser. They can help you alter your investments, organise a withdrawal, or simply provide a progress report.
With Craigs at your side, you can expect:
- An experienced transfer team of UK Pension specialists.
- A complimentary UK Pension Transfer Information Service to help you understand your options and assist with a transfer if required.
- Access to investment advice and research from qualified professionals.
Our UK Pension Transfer Service requires transferring clients to be living in New Zealand with the intention and ability to reside and retire in New Zealand permanently. Currently, you may qualify for a temporary tax exemption from Inland Revenue (IR) tax on your UK pension transfer. In general, this tax exemption lasts for four years from the first day you qualify as a New Zealand tax resident. Not everyone can claim this exemption, and you will need to check your own situation carefully. We always recommend you obtain specialist tax advice.
“Craigs made the whole UK Pension Transfer process extremely easy and straightforward. I only wish we'd done it sooner.”
UK Pension Transfer Service FAQs
Craigs Investment Partners does not charge for the gathering of information on your UK Pension scheme and helping you transfer this to Craigs Superannuation Scheme.
There may be charges imposed by your UK Pension provider and/or by the bank that processes your transfer.
Some clients will have a special type of pension containing Safeguarded Rights, these include Final Salary or Defined Benefits (DB) schemes.
These types of Safeguarded Rights pensions may require UK regulated advice and there will be a charge for this advice.
Once the transferred funds are received, there will be fees associated with your ongoing investment in Craigs Superannuation Scheme
A Qualifying Recognised Overseas Pension Scheme (QROPS) is a type of Recognised Overseas Pension Scheme (ROPS) that has notified HMRC that it meets the required conditions to receive transfers from UK pension schemes.
You may be eligible for New Zealand Superannuation if you are over the age of 65 and are a New Zealand citizen or permanent resident, ordinarily living in New Zealand.
There are also residence requirements to consider if you have spent some of your life living or working overseas. You should contact Work and Income New Zealand (WINZ) for more information or you can check their website: https://www.workandincome.govt.nz/eligibility/moving-to-nz/overseas-pensions.html
To obtain a forecast of your UK State Pension you can use form BR19 from the UK government website: https://www.gov.uk/government/publications/application-for-a-state-pension-statement
Currently, the general minimum age of entitlement for UK pensions is age 55, this is changing to age 57 from 6 April 2028. This change will apply to UK pensions transferred to Craigs Superannuation Scheme.
How can we help?
A flexible superannuation
Our Craigs Superannuation Scheme provides a wide range of investment options. You’ll be able to tailor your portfolio by selecting your own shares, funds, and other securities. It’s also a Qualifying Recognised Overseas Pension Scheme (QROPS), so you’ll be able to receive funds from UK pension schemes.
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.
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.
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 more than 20 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 grown business since we first opened our doors in 1984 and we’re 50% owned by current and former Craigs’ employees 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.