Transfer Process

Complete a request for information on this website or feel free to phone on 0800 459 3673 (0800 4 Lyfords)

We will e-mail you information about transferring your pension, including our discounted fee schedule – the more your transfer the more we reduce our fees.
Information gathering

If you choose Lyfords to facilitate the transfer of your pensions you will have various forms and documents to complete.  The process requires a lot of compliance but you have come from the UK and will be familiar with this.  Compliance procedures are there to protect the investor.

When we have received your completed documents we will write to your pension provider and request the transfer value and documents.

The pension transfer process starts here. You will have already signed a contract appointing Lyfords to assist you with transferring your pension funds.  You understand that we will assist you to transfer your pension funds and make appropriate investment recommendations.  These recommendations will depend on the size of your pension funds,  the level of investment complexity and investment involvement you want to have, your investor risk profile and if you want to have some, or all of, of your funds kept in GBP.

We liaise with the UK providers, follow up on your documents and often telephone the UK to chase them up.  The response time from the UK can be anywhere from 3 weeks to 3 months and sometimes even longer.

After we receive information about your pensions from the UK

  • If, after receiving transfer details from your UK pension provider, Lyfords determines that it is not in your best interests to transfer your pension we will advise you of this and no fee will be payable to Lyfords.
  • Usually the information from the UK indicates that you will be better off to transfer your pensions.  We then complete as much of the transfer documentation that we can for you, indicate where you need to sign, and assist you to complete your Life Time Allowance declaration.
  • The investment statements and applications will be tailored to your requirements depending on the amount you are transferring and your risk profile.
  • If you have a pension fund that has a transfer value of 30,000 GBP or more and pays you a pension when you retire (Defined Benefit scheme) you will need to have a Pension Transfer Value Analysis prepared by a UK adviser. We will provide advice to you about this.

Some people want to ‘keep it simple’ and invest in say a Balanced fund while others with larger sums to invest want a diversified and personalised investment plan with visible fees, regular reporting, website access and excellent research.

Sign and return the second set of documents we sent to you. We process them and send them to the NZ QROPS provider who authorise and return them to your UK pension provider.

If you elect to invest into a custodial wrap account we will be writing an investment plan for you while your funds are being transferred to New Zealand.  The plan will be based on the size of the funds being transferred, your risk profile and investment time horizon.

Our recommendations for the most appropriate QROPS (Qualifying Recognised Overseas Pension Scheme)  provider for you will depend on the value of the funds you are transferring and your investment risk profile.

At this time we send you a link to a Finametrica Psychometric Risk Profiling questionnaire.  There are 25 questions that are answered online.  This risk profiling system won the Best Risk Profiling Solution Award at the 5th Wealth Briefing Swiss Awards, 2018. It takes about 15 minutes to complete.  Your answers will enable us to make investment recommendations based on your risk return profile.  No answer or risk profile is wrong. Some people want their money to be very safe while others want to invest more aggressively. Correct assessment of your risk profile is an important part of the investment advisory process.

NOTE:  You DO NOT pay additional entry fees or investment plan writing fees. 
NOTE:  When your money is transferred to New-Zealand it is paid directly into the QROPS that you have chosen. Lyfords does not have access to your money.  You have will financial security and peace of mind.

Eventually your money will be directly sent to your new QROPS in New Zealand by your pension provider.

Your funds will be invested based on the recommendations in your investment plan that you have agreed to.

After your pension funds have been transferred what are your expectations for the future?

We are constantly reviewing and researching investment options to ensure you have an up to date investment plan with excellent fund managers who have long performance histories.

You have access to us when you have a question about your investments.  Just send us an e-mail or give us a call.

Read more about our post transfer investment service