Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Recharacterisation of certain transactions - Transfers of relationship property

FB 11: Pension payments to former employees

You could also call this:

"When your old employer pays your pension to someone else because of a settlement"

Illustration for Income Tax Act 2007

You get a pension from a former employer. The employer pays some or all of it to another person because of a settlement. This happens according to section DC 2. You are entitled to the pension payment. The payment to the other person is treated like it was paid to you. This is according to section DC 2(1) and (2). The rules apply when the employer pays the pension to someone else. This is because of a relationship property settlement. The payment is still considered a pension payment to you.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1516349.

This page was last updated on — View changes

Topics:
Money and consumer rights > Savings and retirementFamily and relationships > Marriage and partnerships
Previous

FB 10B: Look-through companies, or

"What happens to look-through companies when you split relationship property"

Next

FB 12: Pension payments to former partners, or

"Pension payments to an ex-partner from someone else"

Part FRecharacterisation of certain transactions
Transfers of relationship property

FB 11Pension payments to former employees

  1. This section applies for the purposes of section DC 2 (Pension payments to former employees) when a person is entitled to the payment of a pension from a former employer, and because of a settlement of relationship property, the employer pays some or all of the amount of the pension to another person.

  2. Section DC 2(1) and (2) applies to the amount paid as if it were the payment of a pension to the former employee.

Compare