UK Pension Transfers to NZ: When to Transfer

If you have moved from UK to NZ, when is the right time to move your UK pension or proceeds from the sale of your property? The concern for most people is the exchange rate and not wanting to get it wrong.

Exchange rates are notoriously difficult to predict so it's important not to try, but at least be aware of the risks. New Zealand is starting this crisis from a position of significantly less debt than the UK so has a significant advantage of more economic firepower to deal with the crisis, as well as having clear health advantages which is economically important. We think there is more risk with the GBP than the NZD.

It can take up to 6 months to transfer pensions from UK to New Zealand so it makes sense in our view for most people to transfer ASAP. Please review it with us to make sure there are no reasons to hold your pension in the UK and we want to make sure you've got the best tax and investment advice.

With any funds in UK from sale of property, you want to take currency speculation out of things and be aware of the risks discussed above. Don't move everything in 1 go, but just move a third now, a third in a month, and a third a month later. You might apply a different formula but the most important thing is you set a plan that allows you to take action now without emotion. Use transfer wise for reliability and exchange rates that are much better than the bank. We can help with short term investments that are expected to do a a bit better than term deposits without taking more risk. It's a lot to weigh up and there will always be a firehose of information. We're here to help you make these financial decisions easy, and always happy to talk.