When to Transfer UK Pension to New Zealand

If you’ve moved to New Zealand from the UK, you’ve likely heard me talk about transferring your UK pension before.

Today, I want to highlight an important deadline to keep in mind: the end of the financial year, 31 March 2026. This is often the cutoff for completing a pension transfer without facing taxes or additional taxes, and with the process typically taking 3 to 6 months (sometimes up to 9), now is the right time to arrive at a solution for your pension strategy—especially if you arrived in the 2022 financial year (April 2021 to March 2022), or earlier.

Why does this matter? If you’re within the four-year window since arriving, transferring your pension now could help you avoid potential tax complications or additional costs that might apply if you delay past that period. For those who arrived in 2022, you’re now 2-3 years in—making May, June, or July 2025 an ideal time to firm up your decision and get the ball rolling in time to have the transfer completed by 31 March.

That said, there’s no rush to decide if you’re still well within the four-year window (e.g., arrived in 2023 or later). But for those who arrived in the 2022 financial year or earlier, acting soon could make a big difference.

Deciding to transfer your UK pension isn’t a one-size-fits-all choice. It’s a nuanced decision. For some people, it will be a huge benefit to transfer their pension to NZ, and for others they will be better off to keep it in UK. If you’re weighing up whether to transfer—or just want to understand the tax implications and benefits—feel free to reach out. We can chat through your circumstances and help you decide what’s best for you.