About the UK pension transfer process
Each UK pension transfer is unique – we will work through the steps with you and determine the requirements of your UK pension scheme and Her Majesty’s Revenue and Customs (HMRC). The amount of time it takes to transfer your money will depend on these requirements.
To get started, please read the information below and submit the information requested. You can also contact us if you have questions.
Step One – Make an informed decision
It is important that you download and read the product disclosure statement (PDS) for the SuperLife UK pension transfer scheme. This includes details of the investment options, fees and risks.
We also recommend that you familiarise yourself with the New Zealand and UK tax rules for UK pension transfers. You can learn more about the New Zealand tax rules by visiting Inland Revenue’s website and reading their guide on foreign superannuation lump sums. While we include a summary of the tax rules in the PDS, we recommend that you seek independent tax advice.
Step Two – Submit your application to SuperLife
You will need to complete the application form at the end of the product disclosure statement.
If you can't print or scan the form, or have any questions, please contact us on 0800 27 87 37.
Step Three – We will contact your UK pension scheme
Once your membership has been confirmed, we will contact your UK pension scheme to initiate the transfer process. Your UK pension scheme will send us the documents to be completed to process the transfer. We will help you through the process of completing those documents.
There will be times throughout the transfer process where your UK pension scheme may require further information from you. In certain circumstances (typically where you are in a defined benefit scheme with a value greater than £30,000) you may also be required to speak with a UK financial adviser to ensure that you are made aware of the implications and risks associated with the pension transfer. Your UK financial adviser may also require you to obtain NZ financial advice. We will help you through these steps.
Step Four – Transfer your UK pension
Once your UK pension scheme approves the transfer, your money will be sent to us in GBP. We will confirm the amounts received and ensure that your money is invested in the investment options chosen by you.
Fees matter. It is important when transferring your UK pension scheme money to consider all applicable fees. SuperLife’s fees are among the lowest in the market. Click here to view our initial and ongoing fees for UK pension transfers.