Transfers UK Pensions to New ZealandTransfer your UK pension to New Zealand, but What about the Exchange Rate?
So you want to transfer your UK pension, but are concerned about the exchange rate and whether its the right time. This actually involves two questions:
1) is it the right time to move, or will I lose money on the exchange rate, and
2) what about the investment opportunities and gains I may miss out on by delaying?
- Exchange rate UK pound to NZ dollar: Exchange rates are difficult to predict as they are dependent on many economic factors in both Britain and New Zealand and world events. One of the leading trading bank's predictions for the next 18 months is:
NZD/GBP 0.35 0.36 0.36 0.38 0.38 0.37 0.3
Predictions are that the exchange rate of the New Zealand dollar against the UK pound is going to remain pretty stable over the next 12 months. What we are seeing is volatility in the NZ/US exchange rates.
If you are still concerned about the exchange rate we can transfer your UK funds into a QROPS approved bond fund held in UK pounds until such time that you want to set up a diversified portfolio.
- Opportunity Cost: Exchange rate is one factor but when we transfer UK pensions these are re-invested into a diversified portfolio with around 50% being invested back into international funds, equities and fixed interest. so the impact of the exchange rate is not quite as important as you may think.
- You can transfer and leave it in UK pounds for a short time: If you are really concerned one of the companies we use does allow the funds to be transferred into a UK pound holding account for several months.
Its best to discuss your personal situation and views, please complete the "fact finder form"
Fact Finder Form