A ban on nuisance calls about pensions has now come into force but people are still being urged to be on their guard. Cold-calling has been used by fraudsters trying to steal life savings or persuade people to invest in high-risk schemes. Some 10.9 million unsolicited pension calls and messages are made a year, according […]
The latest UK Budget 9th March 2017 included a number of changes to the QROPS rules. These include the Overseas Transfer Charge from 9th March 2017 exemptions apply. New QROPS Flexi access for Pensions after age 55 inline with UK rules giving more choice on how you take your retirement income. 10 year HMRC reporting […]
April 5th is the UK end of the tax year, it also marked the start of Pension Freedom’s in the UK and more pension rule changes that affect those living in New Zealand with UK Pensions still in the UK. What are some of the changes? New options for withdrawing your Defined Contribution Pension in the UK […]
Media Release MR No. 2014 – 047 18 December 2014 The Financial Markets Authority (FMA) is warning people to be cautious of potentially misleading and deceptive advertising about transferring United Kingdom pension scheme entitlements to New Zealand. The FMA has been monitoring promotional materials and advertisements that encourage people to transfer their UK pension scheme […]
Government has announced a ban on transferring funds from public service pension schemes overseas Workers in the NHS and the Armed Forces who are looking to move their pension overseas at retirement have very little time left to make the change after the Government announced a ban on pension transfers for unfunded defined benefit (DB) […]
The Government has made changes to the tax rules for foreign superannuation. The changes are intended to make the rules simpler and easier to comply with. The changes are contained in the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014.. The new rules l became effective from 1 April 2014.
New QROPS rules came into force on the 6th April 2012 . These include Maximum Lump Sum 30%, balance must provide income for life. Earliest Access to Pension age 55. All Pension payments reported to HMRC for 10 years after transferring. If you live in NZ transferring your UK Pension to NZ still has many […]
UK Treasury recommending transfers from public and private sector defined benefits Pension schemes be severely restricted from April 2015 – Consultation This course of action has been forced by underfunding and concern about the future viability of these schemes. Major public sector schemes are NHS, Teachers, University, Armed Forces, Police, Fire Service and all Local […]