1. Help Centre
  2. KiwiSaver Basics
  3. Transferring your UK Pensions to KiwiSaver

What happens if I have already transferred my UK pension to a KiwiSaver provider?

Subject to what we say below, provided your transfer was completed before 17 June 2015 you should not be subject to any penalties under UK law for having made that transfer.

What are the rules that will apply to any UK transfer I have made?

You may be subject to a UK tax charge if you withdraw or transfer your UK pension funds from a KiwiSaver scheme and have been a UK tax resident in the preceding five UK tax years. These may be significant: up to 55% of the withdrawal or transfer amount.

The imposition of these UK tax charges depend on the application of complex rules applying to UK pension plans. We recommend you take professional tax advice if you wish to withdraw your UK pension funds from a KiwiSaver scheme, or transfer to another KiwiSaver scheme, within this five year period.

We are required to report to HMRC about any withdrawals or transfers you may make from the Scheme. You are required to provide us with the information we require to make these reports.

You remain responsible for complying with UK requirements in respect of any UK pension fund transfer you have made to a KiwiSaver scheme, and any tax liability you may incur as a result of choosing to make a permitted withdrawal from a scheme, or transferring to another KiwiSaver scheme.

Neither we, nor the Trustee, nor any other person involved in providing the Scheme to you takes any responsibility for any UK tax charges that may arise as a result of you having transferred UK pension funds, or withdrawing or transferring those funds to another KiwiSaver scheme.