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  • Steve - Financial Adviser
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  • Name Steve Baker
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UK Pensions
Thanks for that Carole, that is appreciated

FYI, I've been an adviser in NZ since 2006 and before that worked in the pensions and investments profession in the UK for a further 14 years, so I've plenty of mileage under my belt!

My main areas of business are advising on UK pension transfers (I don't just transfer, rather give people enough information on which to make informed decisions) and advising on investment portfolios

Also note that I'm salaried and earn no commission or bonuses and I'm not targeted to write a specific amount of business.

All the best
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UK Pensions
Hi Gretablue,

It depends on what services your accountant offers ie do they just prepare accounts or do they also provide tax advice. A dedicated tax adviser does the latter. It appears that you should get tax advice as if it is deemed that you don't qualify for the four year tax break period due to previous periods of NZ tax residency, it is my understanding that you should then declare the UK pension lump sum withdrawal in your NZ tax return and pay tax on the withdrawal.

Where are you based as if you are in the Christchurch area I can provide the details of a tax adviser who knows this area of taxation inside out?

Our website is 

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UK Pensions
Hi Gretablue

Firstly, let me clarify that I'm not a tax adviser and so the following are my comments only, not advice. My understanding is that as NZ has full taxing rights, you could claim the tax back that you had deducted in the UK. Whether NZ IRD will tax you will depend on how long you have been a tax resident of NZ as you can only withdraw overseas pension lump sums free of NZ tax during your first four years as a NZ tax resident.

I recommend that you speak with a tax adviser in respect of the tax return of which country you should complete as this will be based on your personal circumstances

I trust that is of some help

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UK Pensions
Since Tammy added my article recently on UK pension transfers, I've been contacted by a couple of members asking what my role is.

I am a New Zealand based Authorised Financial Adviser but originate from the UK. My main areas of advice are in respect of UK pension transfers and investment and I worked with Mike and Tammy from 2007 until 2015, when I took a break while Mike and Tammy were considering how they wanted to develop the move2nz site. During that time I provided numerous articles and joined in the financial forums and many move2nz members went on to become clients

In respect of UK pensions, I provide advice to clients to help them to understand the difference between the UK pensions they currently hold and those of a New Zealand superannuation scheme. My advice provides an explanation of the advantages and disadvantages of both the UK pensions the individual holds and how these are treated in a NZ scheme

If you ultimately then decide that you wish to transfer, I can help you to do so. As a salaried adviser you will generally find that my service is more cost effective than others you may consider.

I'd be happy to answer any questions you may have
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NZ housing most unaffordable in the world - The Economist
You should look beyond the newspaper headlines to understand some of what is driving these figures.

Auckland prices have got ridiculous, with average apartment prices in excess of $700,000 and average house prices of ~$1m. This then has a knock on effect to skew the overall picture of NZ house prices as a whole. This is like London and the South East of England driving the average price across the UK.

Auckland seems to attract Asian migrants in particular, which has attributed to the increases as personal wealth in that part of the world has increased and the Kiwi's obsession with owning investment properties does not help!

Like anywhere else though, NZ has pockets of high, low and average house prices. For example, a friend has just purchased a new 4-5 bed home on 1000 sqm with a pool in Rangiora, a lovely commuter town just outside of Christchurch, for under $700,000, about the same price as the average apartment in Auckland! That is for an above average property and so of course smaller houses with smaller price tags will also be widely available across NZ

Its all about perspective
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