Alun Rees-Williams

So the New Zealand government actually went into bat for the Kiwis over, well, actually the public who'd done it and managed to get an exemption for it.

But it took some time to convince HMRC it was a genuine error.

It could be for some people, and for some people it's probably, in real terms, probably not.

The thing I like about KiwiSaver as a financial advisor is it's locked into the 365, and people don't have the opportunity to spend it on things they shouldn't.

Yes.

People taking money out at 55, sometimes it's like a nice little nest egg sitting there that they tend to use not for retirement purposes.

Travel the world.

We get a lot of people for some reason wanting to buy camper vans, that kind of stuff, which is nice to have, but it also can leave you short at retirement.

So it has its pluses and minuses.

But certainly for some people, if it's a method of getting into even their first home sometimes at a late age, it's not necessarily a bad thing, as long as it's used correctly.

What else is involved?

Yep.

So generally, so for our particular scheme, you wouldn't.

You wouldn't pay any money for us to get your money from A to B, but you have to have an advisor and that advisor will give you financial advice and they will charge you

something and that can be anything from zero to effectively two and a half percent of the year.

For us, for our particular scheme, the Britannia Retirement Scheme, yes, is the answer to that.

We don't take unadvised money into it because people are generally worse off with unadvised money.

So

There's two types of advice in terms of UK pension transfers from a UK perspective.

So one of them is essentially free.