Can I transfer my UK Pension to KiwiSaver?
This appears likely to remain the case unless (and until) the KiwiSaver Schemes Rules in the KiwiSaver Act 2006 can be amended to conform with the revised UK legislation;
- It is unclear whether (and if so when) this will occur; and
- accordingly, the Generate KiwiSaver scheme’s UK pension transfers facility (as with all KiwiSaver Schemes) is closed for the time being.
We apologise for any inconvenience this may cause. We will keep this page updated as developments occur.
If you transferred your UK pension to New Zealand prior to this legislation change, you are able to move those funds (as part of your entire KiwiSaver balance) between KiwiSaver providers.
If you are considering withdrawing these funds or switching them between KiwiSaver providers, we strongly recommend that you seek independent tax advice before making any early permitted withdrawal (like a first home purchase), as an early withdrawal could result in significant UK tax penalties. We may be required to report to the UK tax authorities when UK pension transfer funds are withdrawn.