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Expat Brit Makes Extra $280,000 on Pension by Transferring to New Zealand

The on-going Brexit negotiations and subsequent demise of the UK exchange rate have left many British expatriots who have moved to New Zealand wondering what to do about their UK pensions. Should they wait for a more favourable exchange rate, or bite the bullet and transfer their pensions now – knowing that it could get far worse before it improves? Alison Renfrew, pension transfer specialist at Lyford Investment Management, has been advising British expatriots for 17 years on their options for transferring their pensions. She recommends that with some exceptions, transferring now is probably the better option. Why? “Firstly, if you’re worried about the exchange rate, you can keep your funds invested in GBP and convert them into NZD years in the future,” says Renfrew. “More importantly though; pension transfer values seem to be really high at the moment. “I advised a client earlier this month that her transfer value had increased by 25% in just six months. She now has another £145,168 ($281,776NZD) to transfer. This is phenomenal”. Renfrew has not seen such a dramatic positive change in transfer values before. On the very same day, Renfrew had a conversation with another client about her pension transfer value. She was offered a Cash Equivalent Transfer Value (CETV) of £59,731, or a pension of £900 p.a. You would have to receive £900 p.a. for 66 years before you broke even – before you saw any investment returns from your retirement savings. “It is 100% illogical to accept such a lousy deal,” Renfrew says. When Renfrew compared current CETVs with promised pensions, she found little incentive to choose to have a taxable pension paid from the UK compared to receiving a far higher non-taxable income in New Zealand based on realistic investment projections. “What Brits really don’t like is knowing that if they die prematurely their spouse will only get half of the income. In some cases, the spouse gets nothing”. A major benefit of taking control and investing your transfer value to provide you with a retirement income is that you can access your money if you need to. Conversely, there’s no access to your retirement pot if you’ve elected to take a pension. “Where is your financial security if you can’t access your money in an emergency?” Renfrew asks. There are a couple of exceptions, of course. Renfrew cautions Brits and returning Kiwis not to transfer their pension funds if they are uncertain where they’ll live for the five years after they have transferred their pension funds to NZ, due to tax obligations. Renfrew further cautions that before deciding to transfer you need professional advice to ensure that all your options have been considered. “Maybe you are one of the few who have a very attractive pension, and converting to cash would be madness. “You really need to seek independent advice from a New Zealand investment adviser specialising in pension transfers before making the decision to transfer, because individuals simply don’t have access to the same resources advisers do. It’s important to make informed choices.” Alison and Richard Renfrew of Lyfords have been specialising in UK to New Zealand pension transfers for over 17 years. Visit their website to find out more.

‘Secret On-Set Celebrity Hair Formula’ Iles is Now Available Online in NZ

Sable Boutique, a Wellington-based online hair product store, is today releasing the Iles Formula Collection: a sought-after, salon-quality, three-step hair repair treatment that offers visible results from the very first use. Sable Boutique owner Anthea Digby-Smith says that she wanted to stock Iles Formula because the results are so impressive across the board – but at the moment it is only available in a handful of salons in New Zealand. “We think the Iles Formula is one of the most innovative and high-performing hair care products available, so we’re delighted to make it available to all New Zealanders online,” says Digby-Smith. Iles representative Julie Fausett says that Iles Formula was once a secret ‘on-set formula’ used by celebrity hairdresser, Wendy Iles. “These formulas will deliver the most sumptuous, lustrous hair you have ever had, from the very first use,” says Fausett. A sophisticated blend of key raw ingredients, paraben free, cruelty free & sulfate free combined with high technology deliver instant results. The serum is a ‘one product does all’ giving volume for your root area, as well as smoothing the rough cuticles on mid-lengths and ends. No other foundation products are needed prior to blow waving. Anna Kas (@kas_aesthetics) told her 18.2k followers on Instagram that Iles is: “The best hair products ever. With amazing white floral boutique scent. My hair looks shiny, beautiful and sooo healthy with ILES FORMULA. Must try and then have it.” “The formula is truly ground-breaking – it’s unlike anything else on the market,” says Digby-Smith. The Iles Formula 3-step system is available to purchase now from Sable Boutique here, with options for LayBuy or Afterpay. About Sable Boutique Sable Boutique is an online store which is home to a beautiful curation of the highest quality international and local haircare products alike. For anyone who isn’t sure about what products or accessories will be best for them, founders Anthea Digby-Smith and her team offer advice and assistance with finding the goods to get the results you’re after. They’re boutique and specialised – and right here in New Zealand.

South Waikato District Council’s LED Lighting Upgrade Ready to Improve Public Safety and Air Quality

A smart LED lighting project for South Waikato District Council (SWDC) will be featured by Auckland business NB SmartCities at the IoT half-day conference on Thursday 3 October in Auckland. The second annual IoT Conference event, hosted by the New Zealand IoT Alliance, will showcase how Internet of Things (IoT) applications are creating smart cities in New Zealand and improving industrial productivity. IoT Alliance Executive Council member John McDermott says the project for South Waikato District Council demonstrates how IoT technology provides multiple benefits for councils and the public. “The South Waikato District installation is a standout example of how IoT solutions can provide long-lasting advantages and create new opportunities,” McDermott says. “The new system is using less than half the power of the legacy street lamps and is providing better lighting for many more local roads. Also important for the council is that maintenance calls have more than halved, underlining the reliability and lower maintenance costs of the new technology.” The system, which uses open network standard technology, can also support future applications such as air pollution monitoring, traffic analysis, smart parking, and remote water metering. “South Waikato District Council has received very positive feedback from our community on this improved street lighting,” says Ted Anderson, SWDC’s Group Manager Assets. “Tangible benefits include people being able to exercise and participate in other outdoor activities, like walking the dog, much later in the evenings especially during winter; and the safety improvements have been highlighted by many of our residents.” In addition to the SWDC case study, McDermott says the IoT Half-Day conference event will showcase a variety of IoT solutions focused on Smart City and Industrial use cases. “The conference is featuring applications that help deliver better public services, improve health and safety, and enhance manufacturing performance”. Spark is the gold sponsor for the IoT Conference and Spark Future of Connectivity Lead Renee Mateparae says the company is thrilled to be sponsoring an event that will bring the tangible benefits of IoT to the forefront so businesses can realise what it could do for them. “The benefits that new Internet of Things technologies deliver are compelling when implemented correctly. They deliver better services, greater value and improve efficiency. Spark is pleased to support the New Zealand IoT Alliance in connecting the people and businesses that are implementing and deploying IoT applications with the decision makers and leaders that need to understand the impact and value that can be achieved”. Also speaking at the event is Melissa Lee, National MP for Mount Albert, and National spokesperson for Broadcasting, Communications and Digital Media & Ethnic Communities The event is supported by gold sponsor Spark and silver sponsor LEAP Australia. The IoT Half Day Conference is taking place at 12 Madden St, Viaduct, Auckland from 8.30am on Thursday 3 October. For more information and tickets, visit the NZ IoT Alliance website.

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