RAF Pension - move it or leave it????

[thistles and gum trees]

Hi there,

We are unsure of whether to take OHs (small) RAF pension over or if its better to leave it in the UK. For some reason even though its not a lot we seem to be getting a large bit of tax on it! We have been in Aus nearly six months and have been told for financial reasons we should transfer it before that six month point is out. Really not sure what is best. Does anyone have any advice and should we act quickly?

Thanks.

[ErmintrudeMcMoo]

HI there my hubby is ex RN, make sure that you are only paying tax once - hubby now has his paid direct into Aus bank account. Contact the UK tax - fill out an exemption form (I think it`s a p80 or P85, can`t remember exactly) so that you only pay Aus tax on your pension, then contact Paymaster general to get your pension paid direct to Aus bank account. I will warn you though that it could take a while for UK tax office to get their stuff sorted but you should get a rebate on any UK tax you`ve paid since leaving.

[Graham&kym]

Hi,
I have been tolld that my UK RAF pension cannot be paid direct into my OZ account (told that by UK tax office), I can however have it sent over and claim the Oz tax back annually from it. By Paymaster general I assume you mean Xafinity? tht now look after Mil pensions? or am I under a different scheme only having been in Oz for 11months?
Never heard of the 6 month rule. Not sure what that is all about?
As an aside, hae found the UK tax office very helpful and expedient in all matters to date! There has to be one I guess.
For me I save up my UK pension (post tax) and will bring it over every 10 months or so, and claim the Oz tax back annually, unless someone out there tells me there's a better way of doing it.

[ErmintrudeMcMoo]

Hi,
I have been tolld that my UK RAF pension cannot be paid direct into my OZ account (told that by UK tax office), I can however have it sent over and claim the Oz tax back annually from it. By Paymaster general I assume you mean Xafinity? tht now look after Mil pensions? or am I under a different scheme only having been in Oz for 11months?
Never heard of the 6 month rule. Not sure what that is all about?
As an aside, hae found the UK tax office very helpful and expedient in all matters to date! There has to be one I guess.
For me I save up my UK pension (post tax) and will bring it over every 10 months or so, and claim the Oz tax back annually, unless someone out there tells me there's a better way of doing it.

Yes it is Xafinity ( used to be Paymaster we dealt with)
Can only speak as we`ve found - (like yourself I guess) the main problem with the UK tax office that one office didn`t seem to know what the other was doing, it was months of phone calls before they got it all sorted. Paymaster told my hubby no problem to get it paid into Oz account. To the original poster - just make sure you are not being double taxed!!

[neilb]

New to the site, some good information/help on here.
I'm ex-RAF and in receipt of a pension. I'm currently going through the sponsorship process for a visa having secured a job offer in Sydney.
I don't know if you can get the pension paid direct to an Oz bank or not, a mate of mine who's gone through the same process and lives in Perth has his pension transferred every three months or so, there is a form on the UK tax website for tax relief: "Australia/Individual FD2:Application for income tax relief" it's part of the UK/OZ tax agreement stuff i think.
Hope this helps
Neil

[Liam]

Here is the link to the forms Neil was writing about

HM Revenue & Customs: UK/Australia Double Taxation Convention (2003)- Forms Available To Claim Relief

regards

Liam

[ErmintrudeMcMoo]

New to the site, some good information/help on here.
I'm ex-RAF and in receipt of a pension. I'm currently going through the sponsorship process for a visa having secured a job offer in Sydney.
I don't know if you can get the pension paid direct to an Oz bank or not, a mate of mine who's gone through the same process and lives in Perth has his pension transferred every three months or so, there is a form on the UK tax website for tax relief: "Australia/Individual FD2:Application for income tax relief" it's part of the UK/OZ tax agreement stuff i think.
Hope this helps
Neil

That`s the form I was trying to remember!!

[koalakids]

I've being mulling over this dilemma myself and got in touch with Xafinity to find out what is involved in having my Forces pension paid into an Aussie account. It couldn't be easier really. They have sent me a single form for completion that takes between 1-2 weeks to process and Bob's your uncle! There is a monthly admin fee of £2.50 which I am happy to pay.

Fingers crossed all should go smoothly. Also, they mentioned that any future increases will automatically take affect. The monthly sum I receive will of course fluctuate due to whatever the exchange rate is doing.

I hope this is of some help.

Cheers,

KK