Should you recommend a Kiwi QROPS?

Advisers in New Zealand have formed a working party to look into the potential misselling of qualifying recognized overseas pension schemes (QROPS). Rex Cowley, head of marketing at Close Asset Management, gives us the lowdown...

clock

Advisers in New Zealand have formed a working party to look into the potential misselling of QROPS. Rex Cowley, head of marketing at Close Asset Management, gives us the lowdown...

Currently in New Zealand it is common practice for an individual to be able to access their full retirement savings and this is indeed common practice in other parts of the world such as Australia and South Africa. Obviously, this is very counter-culture to the UK where pensions are effectively written into trust. The member only has a contingent right to these monies; the right to access a range of benefits typically being a lump sum and income stream provided that they are still alive by the time they reach retirement date. So, they do not have the ability to cash the pension because t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •