Wonderer

Thanks Andy. I have a letter from HRMC dated 11/2014 advising that I owe them nothing. This was in response to me notifying them I was leaving the UK for sunnier climes. So come 11/2019 my 5 years will be up and I will then subject to the Oz rules and can exit my current QROPS provider. I have made a note to contact you closer to the time to get the personal advise you mention.

Many thanks.

The transfer occurred in August 2014. I am wondering how long I have to remain under QROPS.

Thanks.

Is there a time limit after which it is no longer necessary to have ex-UK pension pot in an QROPS fund? The fees I am being charged for the privilege seem very high.

I grasp the SMSF administration requirements here in Oz. But in getting it QROPS approved are there any pitfalls, like unintended UK taxes, to be aware of?

Thanks in advance.

Thanks Andy, that is a relief. I will now hold my breath...

PS I turn 60 in June and will start drawing a pension.

I transferred my UK pensions in 2014 and now have a balance over $500k with my lifetime allowance, sadly, well below $1.6 million. I have two questions which I would like views on please. (i) Is the full amount in excess of $500k now taxable or is it just the income that will be derived from this amount? After all NCC is deemed to be made from after-tax contributions so it seems that the same amount will be taxed twice; and (ii) what will HMRC's position be on this "forced" withdrawel?

Thanks in advance.

Ian