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If you still have money in a UK pension scheme, perhaps it is time to consider moving it across to New Zealand. There are several advantages for doing so.
Firstly, you will have greater control over your money and the ability to decide how your funds are invested.
Secondly, you will be able to consolidate your retirement savings in New Zealand.
Thirdly, you won’t have to worry about who your UK pension provider is with, how safe your money is or whether it is invested wisely.
Lastly, you won’t have to worry about exchange rate risk or other fees that crop up when bringing the pension funds over once you have retired and your pension fund comes into payment.
Having all your retirement savings in one country means you have more control over how you manage your retirement savings.
However, there can be disadvantages to transferring your UK pension to NZ too. For example, it is important to consider the exchange rate at the time of transferring funds, in some cases it can be less favorable than if you were to transfer at another time. So before making the transition, it is important to seek expert advice.
To help you understand the risks and benefits involved in bringing your UK pension to NZ, talk to our expert team today. At Hallam Jones, we have no entry fees, no termination fees, no withdrawal fees, no switch fees and no transfer fees. Get in touch today about a FREE review of your QROPS funds.