MarkLesinoz

Hi Andrew. Thanks for your reply. My wife left NHS employment in July 2000 and took up other UK employment. We became Australian residents in Sept 2008 and want to transfer the NHS pension now. We received notification from the NHS of the transfer value of $203,000 but no notification of what the value was either in July 2000 when she left NHS employment or Sept 2008 when we came to OZ. How would we find out this cash equivalent transfer value? and is it the 2000 value or the 2008 value we need. The only other figure we received with the notification was (Post 1997 value) which it say was 43,000 Regards Mark

Hi Andrew. Thanks for your reply. My wife left NHS employment in July 2000 and took up other UK employment. We became Australian residents in Sept 2008 and want to transfer the NHS pension now. We received notification from the NHS of the transfer value of $203,000 but no notification of what the value was either in July 2000 when she left NHS employment or Sept 2008 when we came to OZ. How would we find out this cash equivalent transfer value? and is it the 2000 value or the 2008 value we need. The only other figure we received with the notification was (Post 1997 value) which it say was 43,000 Regards Mark

Hi Marco Did you find out any more about this via your own enquiries?????

Thanks Andy. So if there has been no increases in benefit from the NHS pension scheme in the period of time between coming to Australia and having the transfer amount transferred to Australia because an NHS government pension is a defined benefit pension and the benefits do not change. Would I therefore be correct in thinking there can not be any increase in its value and therefore no Applicable Fund Earnings (AFE)?

Hi My wife is transferring her NHS pension into An Australian QROPS super account. At some point she is going to have to pay the ATO a certain amount of tax on the growth the pension has made since we became residents in Australian back in Sept 2008. My question is How do you determine growth in something that does not in my mind actually grow in monetary terms? The pension does not accumulate in value. It simply guarantees to pay an amount based on your final salary. Surely that doesn't grow in any way. But I am told the ATO do not view it like that. Does anyone know how the calculation is made? Thanks in advance for any help. Mark