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Thread: Pension UK to NZ

  1. #1
    Join Date
    Jun 2008
    Location
    UK to USA to Waikato, NZ
    Posts
    1,380

    Default Pension UK to NZ

    Mil moving to NZ. On state pension in UK as 72. Does she receive NZ pension rate or UK rate? She is a resident here. We will talk to work n income when she visits in Feb.

  2. #2
    Join Date
    Sep 2008
    Location
    Christchurch from Scotland
    Posts
    2,226

    Default

    My understanding, though I may be wrong, is that you can apply for nz super under the reciprocal rights legislation. This entitles you to NZ super bowl t your U.K. Pension is paid to the NZ government. If it is a basic state pension the NZ pension is normally slightly higher - at least at current exchange rates. Issues arise if there is a serps or state second pension element as this is included also paid to NZ govt.
    My understanding is that if there is a high proportion of 2nd pension you are often better off getting your UK pension direct.note there is a s not increase in this once you leave the U.K.and you are subject to FX variations. Occupational pensions are paid direct and subject to FX in the beneficiary's hands. For 4 years on arrival these are not subject to NZ tax .- normal new migrant tax rules.

    Advice is definitely needed in this area as it is quite complex.

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