QROPs to NZ QROPs for British expats

The following article was written by financial adviser and pension specialist James Trewren.

Are you a UK expat currently living in Australia? Are you struggling to manage your QROPS pension scheme that is based in Malta or Gibraltar? If so, you’re not alone.



Many UK expats who have moved to Australia find that their QROPS based in Malta or Gibraltar is not recognised by the Australian Taxation Office (ATO) and may be taxed at a higher rate than if it were based in a country that is recogniSed by the ATO. Additionally, such pensions may not be regulated by the Australian Securities and Investments Commission (ASIC), which could put the pensioner at risk if the scheme is not run properly.


But there is a solution. Moving your pension to a New Zealand QROPS can potentially save you money on taxes, thanks to the double tax agreement between Australia and New Zealand. Under this agreement, if you are resident in Australia and have a QROPS in New Zealand, your pension income can be taxed in New Zealand at a ZERO rate tax band than if it were taxed in Australia. This means that you can potentially save 100% off your pensionable Australian taxes by moving your pension to a New Zealand QROPS.


It’s important to note that moving a pension to a New Zealand QROPS may also be subject to different regulations and protections than if it were based in Australia. As such, it’s highly recommended that UK expats living in Australia who are considering moving their pension to a New Zealand QROPS should seek professional advice from a financial adviser or tax specialist to understand their options and ensure they are making informed decisions.

Don’t let your pension scheme in Malta or Gibraltar hold you back. Contact us today to learn more about how moving your pension to a New Zealand QROPS can benefit you.

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Hoxton Capital

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