QROPS fee table

There is much mystifying work and detail to get an overseas pension transferred to New Zealand.

Our latest story is here.

The authorities have agreed systems for this between countries, but in working with these systems there is considerable effort and cost involved, almost all of which reduces the benefits of making the transfer.

Further, there are new regulatory and tax imperatives that drive people to have to do this anyway.

The following list is of the qualified UK schemes for New Zealand. We will add schemes approved by other countries based on reader requests.

This list is intended to make these costs more transparent. For fund returns, click the fund name if hyperlinked.

Readers are welcome to send us details for inclusion.

QROPS qualified schemes            
  Transfer Fee Entry Fee Exit Fee Annual Mgmt Fee Switch Fee Other Fee Type
               
AMP (NZ Retirement Trust - NZRT)   0 0 depends on funds invested into (ranges from 0.20% to 0.90%)   0.8%

Admin & Trustee Fee

Advisers may charge a one-off Adviser fee on the initial transferred amount and/or an ongoing service fee (these fees are subject to Adviser discretion)

AMP KiwiSaver Scheme (no longer qualifies)

0

0

0

0.184% to 0.60%

0

$2.95 p/mth 

0.35% to 0.525% p.a

Admin Fee

Member Fee

AON KiwiSaver Scheme (no longer qualifies)

0

0.0% to 0.32%

0.0% to 0.32%

0.39% to 0.81%

 

$4.15 p/mth

 

0.2% p.a

Admin Fee

Audit, legal, Investment Consultancy fees all deducted from unit price

Ascot New Zealand 

0

As agreed on joining

0

As charged by the investment managers.

0

NZ$5 per month and 0.3%p.a.

Administration fee

Blueprint Portfolio Superannuation Fund (formerly Perpetual Trust)

 

0

2% of amount withdrawn in in year 1 of membership and 1% of amount withdrawn in year 2 of membership. No fee after year 2

1.60%

 

0.05%

Trustee Fee

Britannia Superannuation Scheme 2012

 

up to 5%

 

0.95%

 

0.4% & 0.39% to 1.01%

Plan B Issue Fee and underlying fund management fees

Brooklands (NZ) Superan Scheme No.1              
Brooklands (NZ) Superan Scheme No.2              
Clarke Investments 2012 Ltd Superan Fund              

Craigs IP kiwiSTART Defined Scheme (no longer qualifies)

 

1.25%

1.25%

0.75% to 1.25%

0

$60 p.a.

Admin Fee

Craigs IP kiwiSTART Select Scheme (no longer qualifies)

 

1.25%

1.25%

0.75% to 1.25%

0

$60 p.a.

Admin Fee

Craigs IP SuperStart Scheme

 

either up to 1% or 2.5% depending on scheme

either up to 1% or 2.5% depending on scheme

0.75% to 1.25%

0

   

Fidelity Super -Super Plan Number 3

 

up to 5%*

0 for first withdrawal; $60 per withdrawal in same calendar month thereafter

1% if lumpsum withdrawal inside 1st year following deposit; 0.5% if withdrawal made inside 2 years

max of 1.08% (after tax)

0 for first switch; $60 thereafter if switch in same calendar month

0.70% pa

 

 

1%

Discretionary management fee


Contribution increase fee charged on difference between old and new amounts

Fisher Funds Growth Kiwisaver Scheme (no longer qualifies)

0

0

0

1.08% to 2.24% (before tax) based on current Total Fund Fees (TFF)

up to two free switches per annum

$3 p/mth

KiwiSaver member fee.

Performance fee may be paid to the manager from the various funds and this is currently included in the TFF

FMS Superannuation Fund              

Forsyth Barr Kiwisaver Scheme (no longer qualifies)

0

0

0

1% + up to 0.2% scheme expense fee

up to two free switches per annum then $25 per switch subject to minimum lump sum switch of $500

$3 p/mth

KiwiSaver member fee

GBP International Superannuation Scheme              

Generate Kiwisaver Scheme (no longer qualifies)

0

0

0

1.27% to 1.76% based on sum of  listed fees but before performance fee

0

$3 p/mth

KiwiSaver member fee

GMI Superannuation Scheme

0

0

0

Max fee of 1.5% p.a. (min fee is $120 p.a.)

Fees based on sliding scale which reduces as sum invested increases

0

0

 

Grosvenor KiwiSaver Scheme (no longer qualifies)

0

Financial adviser may charge a fee for advice on suitability of transferring to KiwiSaver

0

0

0.5% to 1%

0

$3.33 p/mth

 

0.18% p.a

1.1% p.a

 

$30

0.04% p.a

KiwiSaver member fee

Administration fee

Gearing fee (for Geared portfolio)

Withdrawal fee per withdrawal

Trustee fee

 

i-Select Superannuation Scheme
 

Advisers may charge a maximum of 5% - typically 2% or below

0

  maximum annual fee is 2.05%

 

0.4% pa

0.35% pa

up to 1.3%

 

 

Trustee fee

AEGIS  fee

Adviser fee

Fees listed above are components of the annual fee total of 2.05%

 

Kiwi Wealth Kiwisaver Scheme (no longer qualifies)

0

0

0

max 1% of member balance p.a subject to min of $50 p.a

0

   
Koinonia Fund              
Lightfoot Ltd Superannuation Scheme              

Medical Ass. Society Retirement Savings Plan

0

0

up to 5% for early withdrawal

0.5% to 1%

First switch free then $50 per switch

$6,000 p.a

 

0.02% p.a

Trustee fee paid by various funds

Various expenses and operating costs

Medical Assurance Society Kiwisaver Plan (no longer qualifies)

0

0

up to 5% for early withdrawal

0.5% to 1% or min $50 which ever is greater

First switch free then $50 per switch

$6,000 p.a

 

0.02% p.a

Trustee fee paid by various funds

Various expenses and operating costs

Milford Kiwisaver Plan (no longer qualifies)

0

0

0

max of 1.05% + performance fee for Active Growth Fund - not included in annual management fee cap

0

 

$3 p/m

KiwiSaver member and admin fee

NZ Endeavour Fund

 

NZ$1500 or £750 establishment fee

 

NZ$500 to NZ1,000 for residents &

£100 to £500 for non-residents

 

1%

 

£32.50 per quarter

 

£25

£10

£20

 

£50

 

£50 p.a

 

max 1%

 

Management Fee paid to fund manager (TAM)

Nominee/custody fee paid to TAM

Clearing House Automated

Adhoc withdrawal fee

Foreign exchange fee

Payment System transfer fee

Account closure fee

Professional fees debited against member account

Financial adviser fee for monitoring and advice

NZ Funds Kiwisaver Scheme (no longer qualifies)

$100 per transfer

0

0

1.15% to 1.50% (Strategy fee target)

$37.48 transfer fee to another KiwiSaver provider

$3 p/m

 

KiwiSaver member and admin fee
 

 

Portobello Motels (2012) Ltd Superan Fund              

Smartshares Kiwisaver Scheme (no longer qualifies)

0

0

0

$40 p.a.

0.65% to 0.85%

0

0

 
Stonebarrow Ltd Superannuation Fund              
Super Trustee Fund              

Superlife Kiwisaver Scheme (no longer qualifies)

0

0

$100 may be charged

0.3% to 0.86%

0 at present

$2.75 p/m & 0.2% p.a.

 

0.03%

KiwiSaver admininstration fees

Trustee fee paid by the various funds

Tait Electronics Ltd Kiwisaver Scheme              

Westpac Kiwisaver Scheme (no longer qualifies)

0

0

0

0.3% to 0.7% (excludes Capital Protected Product range)

0

$2.59 p/m

 

0.04%

KiwiSaver member and admin fee

Trustee Fee

               
* = Part or all of these fees go to advisers          

Update October 2015: Due to changes in the QROPS legislation KiwiSaver schemes are no longer appropriate vehicles for UK pension transfers.

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