Transferring locked-in UK pension funds from KiwiSaver schemes

From 1 April 2025, ‘locked-in’ UK pension funds in a KiwiSaver scheme can be moved to a New Zealand-qualifying recognised overseas pension scheme (QROPS) when certain requirements are met.

Locked-in funds are both:

• the original amount of UK pension funds transferred to KiwiSaver schemes before 17 June 2015
• any investment returns on that amount.

Requirements to meet

Before a scheme or person can transfer locked-in funds, the QROPS must agree to receive the funds. Once the QROPS agrees, the entire amount of funds must be transferred in 1 transaction. 

Providers transferring funds

KiwiSaver providers choosing to transfer funds need the written consent of both:

• the member
• the QROPS chosen to receive the transfer.

Individuals transferring funds

If you want to transfer funds, you should contact your KiwiSaver scheme provider. We are not involved in this process.

Members choosing to transfer need to both:

• get written confirmation from the chosen QROPS that it will accept the transfer
• notify their KiwiSaver provider to transfer the locked-in funds to the designated QROPS.