Permitted withdrawals for transition into retirement will be allowed from age 55, upon application to the scheme manager as follows:  "The maximum withdrawal will equal the value of the fund at the start of the period divided by the number of relevant periods that commence before the NZ Superannuation age of 65 (plus 1 year)"

People who have transferred their pensions in the past, or are considering a pension transfer immediately need to understand how their New Zealand scheme intends to deal with these compulsory legislative changes. After 1 December 2016 you will not be able to join a new scheme and still have the ability to withdraw 30% (or more) at age 55.