News

Mixed fortunes in pension transfer market

Monday 25th of January 2016

Recent rule changes have made it harder to transfer British pensions to New Zealand.

British rule changes meant KiwiSaver schemes have lost their Qualifying Recognised Overseas Pension Scheme (QROPS) status.

A QROPS is a scheme that meets requirements set out by Britain’s HM Revenue and Customs and can accept transfers without the 55% penalty tax that would otherwise be applied.

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