Transfer of NZ Kiwisaver to UK.

Crankfurter

I have a private pension plan in New Zealand and am migrating back to the UK soon. I can withdraw the savings from the plan after being out of New Zealand for a year and intend to transfer the money into a UK pension plan before buying an annuity. 
Would the amount transferred be subject to taxation in the UK? 
Thanks 

Marcon

If you transfer your KiwiSaver to a UK pension plan, you can choose to take up to 25% tax free. If you use the remaining funds to buy an annuity, then income from that becomes (potentially) taxable. You'll be taxed at your marginal rate on any income which exceeds your UK personal allowance in any tax year.

If you withdraw your NZ funds before you leave NZ, they become personal as opposed to pension money. You could then use some or all of those funds to buy an annuity. Because the money is 'your own' as opposed to coming straight from a pension scheme, the tax treatment is favourable - part of each annuity payment is free of tax because it is treated as a return of capital.

Probably worth double checking the above on https://community.hmrc.gov.uk/ before doing anything definitive!