New Zealand Defined Benefit Pension Transfer Advice

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Looking to move your UK Defined Benefit Pension to New Zealand?

If you’re living in New Zealand and have a DB pension in the UK, you might be considering transferring your UK Defined Benefit pension to New Zealand for tax reasons.

We are Qualified Pension Transfer Specialists who are authorised and regulated by the FCA to offer you the advice you need if you're considering moving your UK-Based Defined Benefit pension to New Zealand.

Speak to a Pension Transfer Specialist

No commitment, no hard sales, just a quick chat with one of our experts to see if we can help

Helping New Zealand residents get the right UK transfer advice

Defined Benefit Pension Transfers are highly regulated in the UK. Pension Transfers are deemed a high-risk area so you'll need a Qualified Pension Transfer Specialist in the UK. You'll always speak directly to our Pension Transfer Specialist to ensure you get the advice you need at every step.

If you have a financial advisor in New Zealand, they will be able to help you set up the necessary QROPS but you'll still need a UK-based pension transfer specialist.

Specialist pension transfer advice & analysis

If your transfer value is over £30,000 you need financial advice in accordance with the FCA requirements Financial Services Markets Act 2000.

This means you need a qualified pension transfer specialist, with the required FCA permissions, to undertake a complete holistic overview involving:

  • full analysis of the pension and benefits you are planning to transfer
  • your current & future objectives
  • your individual financial situation
  • analysis of other pensions, investments & assets
  • current & future income requirements
  • your risk profile & risk profile for your spouse (if applicable)
  • current & future work plans (incl. early retirement, semi-retirement etc).
  • investment strategy
  • costs involved & potential tax implications
  • legacy planning


Our pension transfer specialist is able to provide you with the transfer advice you need.

Flexible office hours for our New Zealand Clients

With an 11-hour time difference, we understand that it can be hard to do business with a UK-based firm if you're living in New Zealand, so we offer early morning and evening call times by arrangement.


We also offer Zoom calls so that you can see our Pension Transfer Specialist and put a face to the name.

please contact us if you'd like to schedule an out-of-hours call

Risks and benefits of Pension Transfer


Reasons you might transfer...

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    You wish to take advantage of the tax benefits that are offered in New Zealand

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    You can make better use of your money outside of a defined benefit pension arrangement

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    You want to manage your wealth and legacy in a more tax efficient way

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    To align your retirement planning in the country that you reside in and reduce added risks of currency fluctuations and future changes to pension legislation.


Reasons you should stay...

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    You are reliant on this pension to provide for you in retirement

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    You're uncomfortable with investment risk

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You could run out of money in retirement

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    You will lose valuable benefits by transferring


Defined Benefit Pension Transfers are complex but they needn't be confusing


Meet our Pension Transfer Specialist

We don't believe in generic robo-advice, middle-men or frustrating call centres. We believe you deserve expert tailored advice to help you make the right decision, so you'll always deal directly with Simon Garber, our qualified pension transfer specialist.

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    Pension Transfer Specialist since 2007

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    Expert in Defined Benefit Pension Transfer

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    FCA Regulated, Independent Advice

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    5* Rated Customer Service

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    Gold Standard for Pension Transfers

New Zealand Pension Transfer FAQs

Pension transfer timescales - How long does a pension transfer take?

Once you receive your CETV (cash equivalent transfer value, you have 3 months in which to decide whether you will transfer or not before that offer expires. It’s important that you factor in the time it will take to receive the advice you need. Ideally before or as soon you receive your CETV.

Across the industry it’s not uncommon to hear of defined benefit pension transfers taking up to 6 months, sometimes longer.

Our streamlined process is far quicker than that and we can usually turn around your report and transfer recommendation in around 1 month as long as we have all of the information we need.

It’s an in-depth process, but since you’ll always deal directly with our Qualified Pension Transfer Specialist, there won’t be any unexpected delays from our end.

However, you should be aware that we may need to request additional information from your pension trustees in order to provide you with the advice you need and this may cause delays which are beyond our control.

Delays in the pension transfer advice process could cause you to miss your CETV transfer deadline and will result in you having to request a new transfer value. Transfer values are subject to change so this could work for or against you.

There are a number of other factors that can affect how long a pension transfer might take including:

How quickly you respond to requests for information and how complete that information is.

How quickly Pension trustees respond to requests for information

How quickly pension trustees and associated pension companies action any request for a transfer

Pension trustees and pension providers in general, are not known for their fast turnaround times. Because of this we have a dedicated team who will chase your case daily if needed.

Will you set up my QROPS for me?

If you're moving your UK pension to New Zealand you'll need to move it to a Recognised Overseas Pension Scheme (ROPS).

Please note that 2020 Financial does not set up overseas pensions. Whilst we can provide the pension transfer advice you need, you will need to work with a New Zealand-based financial advisor in order to set up your New Zealand ROPS and for ongoing person management.

Alternatively, you are free to set up your own ROPS.

Additionally, we recommend that you seek independent tax advice in New Zealand before transferring your pension.

Can i transfer my pension myself?

If your Final Salary pension is worth less than £30,000 you are free to transfer your pension yourself without seeking advice.

If you're moving your pension to New Zealand you'll need to have a ROPS (Recognised Overseas Pension Scheme) set up. you can find details on the UK Government website.

If your transfer value is higher than £30,000 then it is a regulatory requirement that you seek ‘appropriate’ advice from a qualified pension transfer specialist. This means they will need to provide you with an in-depth report exploring your suitability to transfer and a personal recommendation to transfer or not.

Your pension scheme will require evidence that you have received the required advice before they will allow you to transfer your pension.

How much does a pension transfer cost?

Transferring your Final Salary Pension to a personal pension arrangement may give you access to a large lump sum and offer you the freedom to invest and spend your pension pot as you see fit, but there can be significant costs and fees involved.

The full cost of a Final Salary pension transfer will depend on a number of factors:
● How much your pension is worth
● How much you pay for pension transfer advice,
● The costs of ongoing investments post transfer including any ongoing advice fees.

The value of your pension will usually affect how much a transfer costs you, since most work of this kind operates on a percentage of the value of your fund.

The cost of Pension transfer advice can range from advisor to advisor, so it’s worth shopping around to find the best deal for you, taking into account future advice costs and the costs of recommended products and associated platform charges.

Changes made by the Financial Conduct Authority in 2020 mean that contingent charging has now been banned. This means that you must be charged the same amount for advice whether you are recommended to or choose to transfer or not.

Regardless of who manages your money post-transfer you’ll be subject to investment costs depending on which investment products you choose.

FCA Advice on Defined Benefit Pension Transfers

The Financial Conduct Authority are the regulatory body that oversee financial advice in the UK.

It's their job to ensure that consumers get quality financial advice that safeguards their best interests.

If you want to find out what you should be looking for when it comes to receiving financial advice for your defined benefit pension transfer watch this helpful video below.

Tailored pension transfer advice for overseas clients

Our Independent pension transfer advice is designed to help you meet your goals in the best way for you, whether that’s exploring your options within your scheme or moving your pension to a defined contribution arrangement.

pension transfer analysis


First we start with understanding you and where you want to be.

We’ll discuss your goals, talk about the risks and benefits of pension transfer and carry out a detailed fact-find and analysis to see if transferring is really in your best interests.

pension_ transfer report _recommendations


You'll receive an in-depth report that assesses your suitability to transfer based on your goals, risk assessment and your personal and financial situation.

You'll receive suggestions for alternative courses of action & our expert recommendation.

Download our free expert guide to

Defined Benefit Pension Transfer

Is a transfer really right for you? Uncover everything you need to know before you decided transfer your pension.

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Client Testimonial

leo-ruscillo_2020 Financial client

"...I feel very confident that my financial affairs are being looked after."

Excellent advice given in a friendly and professional manner. I feel very confident that my financial affairs are being diligently and expertly looked after.

LEO RUSCILLO, Defined benefit transfer


Pension transfer gold standard


The Pension Transfer Gold Standard is a voluntary code of good conduct for pension transfer specialists. Set up by the Pensions Advice Taskforce, it's designed to ensure the highest of standards of advice for consumers seeking pension transfer advice.


We are proud to offer the highest standard of ethics and quality with our pension transfer advice and if you'd like to find out more about the pension transfer gold standard here, where you can download a helpful consumer guide.

Avoiding pension scams for overseas transfers

Unfortunately defined benefit pensions have been increasingly targeted by scammers in recent years.

Protect yourself and your money by following this key advice:

  • avoid unsolicited advice - reputable firms will never cold call you.
  • Check the FCA register to ensure your advisor is authorised and regulated for Defined Benefit advice
  • download the pension transfer gold-standard guide to understand what good advice looks like
  • only work with regulated UK-based firms.
  • only move your pension to a Recognised Overseas Pension Scheme.

N.B There are a growing number of Oversees firms claiming to offer UK Defined Benefit advice - be aware that they do not hold the required permissions to offer the advice you need. If in doubt, consult the FCA Scamsmart list.