NZ QROPS offered in Australia

The super scheme, which gained QROPs approval last month, is now dual registered as a New Zealand and Australian QROPS retirement scheme.

“Following the many changes in QROPS since 2006, particularly the reduction to the ROPS list in 2015, we felt the New Zealand and Australian markets would benefit from a simple transparent superannuation scheme backed by a well-known manager specialising in retirement solutions. Garrison Bridge is a multi-currency offer, combining international index funds and simple fees with a tax effective structure”, Stewart said in a statement.

“We think the removal of the 70% income for life requirement, as indicated in the UK Autumn policy statement, provides increased certainty for New Zealand based superannuation schemes and removes confusion for investors”.

New Zealand is well placed as a financial hub for new migrants with 40 double taxation agreements currently in force, close connections with Australia including the Trans-Tasman Mutual Recognition Arrangement, and the ability to offer zero-rate or multi-rate PIEs for tax purposes.