UK Pension Transfers

Evergreen Retirement Trust (the Scheme) is a registered New Zealand superannuation scheme.

On 30th November 2016, the Scheme transitioned to the Financial Markets Conduct Act 2013 and it’s status was changed to a Restricted Legacy Scheme by an Order in Council dated 28th October 2016. The Scheme is closed to new members and is not being offered for new investment.

On 19th November 2012, UK HM Revenue & Customs (UK HMRC) suspended the Scheme from its published QROPS list. Although suspension from the list does not mean that the Scheme is not a QROPS, the recent transition to a Restricted Legacy Scheme means the Scheme now no longer qualifies as a QROP’s. However, all existing rules of the Scheme continue to apply.

The implications for Members are that the Scheme’s funds under management are likely to grow more slowly, and expenses from the Scheme are likely to be higher than would otherwise be the case.

For further information about the Scheme transition and suspension please contact Evergreen Capital Partners Limited using the details on the ‘Contact Us’ page, or your financial adviser

Existing Members who have UK tax relieved funds in the Scheme should note the restrictions on payments that apply to UK pension transfers or transfers of other UK tax relieved funds continue to apply.