Decide on your UK pension transfer (QROPS)

UK pensions can generally be transferred to a New Zealand QROPS (Qualifying Recognised Overseas Pension Scheme) tax-free if the transfer happens within 4 years of becoming a NZ tax resident. Transfer after that window and it's generally taxable in New Zealand -- a real financial cost for putting off a decision rather than an administrative inconvenience.

What to do:

1. Get UK and NZ financial advice before deciding -- this is a genuine, largely one-way decision, not something to reverse easily once funds have moved.
2. Check whether your specific UK scheme has features worth keeping (spouse or dependent pensions, inflation-linked increases, built-in insurance cover) that a transfer would give up permanently.
3. If you do transfer, note the 5-year "hold" rule -- leaving New Zealand again within 5 UK tax years of the transfer can trigger a UK Overseas Transfer Charge on top of whatever you've already paid to move it.
4. Even if you don't transfer immediately, start the advice conversation well before year four so the choice is informed and unhurried, rather than a rushed decision made against a looming deadline.
5. Keep a note of exactly when you became a NZ tax resident -- the 4-year window is measured from that date, not from when you arrived or when you decide to act.

Common mistakes: leaving this until close to the 4-year deadline, assuming every UK pension scheme transfers on the same terms, and not accounting for the 5-year hold rule if there's a chance you might leave New Zealand again.

See GOV.UK: transferring your pension for the current UK-side rules.