FMA warns against misleading UK pension scheme transfers advertising

Thu, 18 Dec 2014

By Suze Metherell Dec. 18 (BusinessDesk) - The Financial Markets Authority is warning against misleading advertising about transferring UK pension scheme entitlements to New Zealand to avoid incoming tax and legislation charges. The ads claim changes in UK legislation and New Zealand's tax treatment of offshore pensions, which come into effect in April 2015 may create either a loss of access to the pension fund or a lump tax charge to the incoming cash. New Zealand's financial services watchdog is concerned the sense of urgency will caus...

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