News

Frustrating wait for QROPS providers

Monday 7th of May 2012

On April 6 tough new rules came into force affecting New Zealand providers of the UK pension transfer scheme, requiring 70% of the amount transferred to be used as "income for life", meaning only 30% could be immediately withdrawn at the age of eligibility.

This created a headache for New Zealand QROPS providers, due to the near impossibility of changing their trust deeds retrospectively...

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