i-Select

Single Member Scheme

A Single Member Scheme gives you the freedom to invest your retirement savings in the things that matter to you

An i-Select Single Member Scheme (SMS) allows you the freedom to invest your retirement savings into commercial property, listed or unlisted shares or other qualifying investments close to your heart.

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NZ SMS

Transfer your UK fund and control how you want to invest it

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NZ Occupational SMS

Gives you the same control as the NZ SMS , but for those who are now working in NZ

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International SMS

Allows you to manage your funds how you want, in one place, but still work abroad

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The i-Select New Zealand Single Member Scheme

Perfect for those transferring funds from the UK who want a high level of control over their retirement

This Scheme would suit individuals who intend to reside in New Zealand for the medium term (at least 6 years), who have UK pension funds they wish to transfer to New Zealand, and who wish to have a high degree of control over how their retirement funds are invested.

The i-Select Occupational Single Member Scheme

Perfect for those transferring funds from the UK are still employed and their employer is involved in planning for your retirement

This Scheme would suit those members whose employers are happy to be involved in the provision of retirement benefits for their employee.

The i-Select International Single Member Scheme

Perfect for those employed internationally and have no plans to work in NZ

This Scheme would suit those members whose employment is truly international.

Key benefits to an i-Select Single Member Scheme

QROPS status if required

Large superannuation savings can be controlled closely

Accommodates specialist investment requirements like unlisted shares or commercial property

UK Inheritance Tax can be mitigated using QNUPS (Qualifying Non-UK Pension Scheme) status

Occupational Scheme status if required

New Zealand Foreign Trust status if required

Transparency and control

i-Select’s SMS gives you complete visibility over how your fund is managed and invested. What’s more, the costs are clearly defined, and capped at a fixed amount.

The New Zealand Schemes consist of three clearly defined roles between you (the Member and Trustee), i-Select (the Administrator) and your Financial Adviser, with you in overall control. The International SMS utilises a single corporate trustee.

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How the i-Select Single Member Scheme works

Below is an overview as what to expect when setting up an i-Select SMS. You can see a more detailed description of the process in the i-Select SMS brochure.

You decide if an i-Select SMS is right for you

Choose the SMS most appropriate for you

i-Select helps you and your adviser transfer your pension to the SMS

You implement your chosen investment plan

i-Select assist with ongoing compliance

Talk to one of our experts to see if you qualify for a Single Member Scheme.

Understanding the risks of investing

All investments carry risk. Events affecting investments cannot always be foreseen, and no-one guarantees any rate of return (or the return of capital).

Before joining the Scheme, you should carefully consider the risks. Your financial adviser can explain the risks in more detail, and tailor advice to suit your needs and objectives.Investments are often divided into five major investment classes – cash, bonds, property, shares and alternative assets – which have differing levels of risk.

There is generally a risk/return trade-off. This means that, when investing in higher risk investments, a higher return is expected on those investments to compensate for the additional risk. Lower risk investments are expected to generate a lower return on average over time.

Determining how much risk to take should be related to the period of investment. Generally, if investing for a longer period of time, a portfolio should hold more growth assets (such as shares and property). Returns are expected to be higher and there is a longer time period in which to balance out any negative returns received against positive returns. Lower risk investments are generally more suitable for someone with a shorter time horizon, as these investors require greater stability in returns with less risk of loss of capital.

To help you clarify your own attitude to risk, we recommend you seek financial advice from an authorised financial adviser. In addition, you may work out your risk profile at https://sorted.org.nz/tools/investor-kickstarter

What taxes will you pay?

It is important that you seek taxation advice on the implications of transferring any retirement savings funds to an i-Select SMS. i-Select can facilitate specialist taxation advice if required – particularly in NZ and in the UK area – through i-Select Tax Ltd. This would be a separate engagement with i-Select Tax.

A New Zealand SMS will be a taxpayer in its own right and has a basic rate of tax of 33%. If the Trustee invests in Portfolio Investment Entitles (PIEs) then the rate of tax may be reduced to 28%.

An International SMS schemes is set up as a New Zealand Foreign Trust and is not liable to New Zealand tax on foreign income. If the Trustee does not invest in New Zealand assets, it will have no New Zealand tax liability.

These rules can be complex, but we can guide you through them.

I-Select Taxation services

Take the next step...

If you want us to refer you to a financial adviser to assist you with your pension and possibly other investment decision-making, contact us and we will make a recommendation.

If you have decided that the i-Select PIE Superannuation Scheme is for you, contact us and we will get in touch with you to commence the process.

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