KiwiSaver
You can transfer your UK Pension through to KiwiSaver
Most KiwiSaver providers have QROPS status, but it's important to be aware of the downsides.
Any transferred funds become subject to withdrawal rules under KiwiSaver. You can change KiwiSaver providers or change funds but you can only withdraw money subject to fulfilling certain criteria. These are such things as being terminally ill or suffering severe financial hardship.
Your Free Pension Report offers more detailed advice around Kiwisaver.
KiwiSaver vs other funds
KiwiSaver
- Funds are currently locked in until age 65
- You cannot access any of the funds transferred over from the UK
Non-KiwiSaver QROPS Fund
- Partial or full access to funds once you have satisfied HMRC requirements
- You may have access to 40% of your money immediately with the other 60% available in 2 years
Contact Marcus Cranfield for more information regarding re-investment of your UK Pension.