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PENSION SCHEMES

PENSION TRANSFERS

Legislation

Contained below is most of the relevant legislation pertaining to pension transfers between the United Kindgom and New Zealand.

 

 

cslogo Proposed NZ legislation changes in respect of tax on foreign superannuation

Contained within this proposed legislation is the new tax regime for taxation on foreign superannuation.  This legislation sets out the retrospective tax system as well as the new tax rules going forward… tax on foreign superannuation

 

cslogo Latest QROPS legislation effective from 6 April 2012


This was the legislation that created two types of QROPS in New Zealand, namely KiwiSaver schemes and schemes that provided that 70% of the transfer value was used to provide an income for life… 2012 QROPS

 

cslogo Double taxation treaty between New Zealand and the United Kingdom

The double tax treaty sets out the mechanism for taxation of pensions and annuities – this is outlined in Article 19 and shows that tax is only paid in the country of tax residence of recipient of the annuity or pension… double tax treaty 

 

cslogo White paper on the extension of zero-rate PIE status to superannuation schemes

The creation of the zero-rate PIE (portfolio investment entity) regime effectively allows non-residents to invest in New Zealand superannuation schemes and not be taxed on the growth in those schemes… zero-rate PIE