UK pension deal struck

Transfers from a UK defined benefit pension scheme worth more than £30,000 (NZ$60,000) require written financial advice before a transfer can be permitted.

Garrison Bridge said as demand for transfers to New Zealand increased, the ability to obtain Financial Conduct Authority (FCA) reports in the UK had dropped.

That has prompted it to strike up a relationship with Paraplanning Hub.

Managing director of Paraplanning Hub Tony Slimmings said: “Our network of FCA Advisers are well resourced to serve the New Zealand market and we are pleased to partner with Garrison Bridge to provide a solution for defined benefit reports.”