MaxV

G`day Maria, Relax...... We have different opinions, no big deal..... you have made some statements, I disagree with them.... you have every right to your opinion, I have every right to mine..... Who cares..... It does not matter..... there is no right or wrong, we just disagree on a few things...... no problem..... Each individual has to assess their own position on these issues, we all have unique situations, that is the main reason people seek professional advice, ie, taxation, rules, regulations, country of origin/residence/retirement, retirement plans/expectations, families, partners, children, insurances, wills, health issues, age brackets, budgets, debts, knowledge, time, energy, assets, time left on this planet, etc, etc, these issues are also fluid/dynamic, particularly changes in laws and legislation...... Again good reason for seeking financial/professional advice..... There is no one single solution that will fit everybodies needs, each individuals situation is unique, you just have to work through it and find the answer that best suits you and the retirement that you are seeking and try and work your way towards it.....

Perhaps I should borrow your rose coloured spectacles...... Your rose coloured opinions are in rose/red/pink..... No, that would have made no difference. Disagree. The system is not as complex as you seem to think it is. Disagree. There is no such thing as a 'QROPS SMSF". "There is an SMSF whose deed contains clauses to make it compliant with QROPS" This is exactly what I was referring to, it is often called or referred to as a QROPS SMSF or SMSF QROPS...... That all sounds pretty straightforward to me. Disagree, I think people make it complicated by floundering around, convinced there must be a way around the reality. Disagree. But the fact is the rule exists and it's pretty black and white. The actual process of setting up your SMSF and transferring the money is the fiddly bit. Disagree. As previously stated above, rose coloured opinions in rose/red/pink...... No further clarification required..... I feel sure GB Grey Sky can speak for himself..... You have your opinion, I have mine...... I feel sure GB Grey Sky has his own opinion too.....

Many Thanks PQ, sounds like good advice........

Has anyone recently (2016/2017/2018) successfully used an Australian Over 55yrs Q/ROPS Retail Superannuation Fund to transfer their UK Pension across to Australian Superannuation?? If So, Would you be happy to share your experiences so those that maybe interested (such as myself) could learn from them............... Are you perhaps familiar, or perhaps have had dealings with such an Australian Over 55yrs Q/ROPS Retail Superannuation Fund capable of transfering UK Pensions across to Australian Superannuation?? If So, Would you be happy to share your experiences so those that maybe interested (such as myself) could learn from them...............

Perhaps I should borrow your rose coloured spectacles...... Your rose coloured opinions are in rose/red/pink..... No, that would have made no difference. Disagree. The system is not as complex as you seem to think it is. Disagree. There is no such thing as a 'QROPS SMSF". "There is an SMSF whose deed contains clauses to make it compliant with QROPS" This is exactly what I was referring to, it is often called or referred to as a QROPS SMSF or SMSF QROPS...... That all sounds pretty straightforward to me. Disagree, I think people make it complicated by floundering around, convinced there must be a way around the reality. Disagree. But the fact is the rule exists and it's pretty black and white. The actual process of setting up your SMSF and transferring the money is the fiddly bit. Disagree.

G`day GGrey Sky, This is what I said.... "I have seen suggestions where SMSF, QROPS SMSF and SIPP`s are all being touted as potential vehicles that could be utilised in UK pension transfer to Aussie Super, it seems you guys already have UK SIPPS, have you considered tranferring your existing SIPPS directly across to Aussie Super thereby possibly avoiding the extra complexity of additional SMSF or QROPS SMSF....." Certainly I do not pretend to understand the system compexities/practices to any great extent, it surely is a Dogs Breakfast at very best..... Perhaps I should have said "have you considered tranferring your existing SIPPS **directly or indirectly** across to Aussie Super thereby possibly avoiding the extra complexity of additional SMSF or QROPS SMSF....." I think often these systems are engineered to be as complex as humanly possible and so designed to put people off wanting/choosing to deal with them, this can be a very effective policy, for instance, several times I have been perfectly entitled to a financial claim/reward within government structures, once for around $40 which meant spending over 6 hours queueing, paperwork, interviews etc, (I walked out and enjoyed my day elsewhere), another time for $100 which took over 3yrs of dispute resolution with different people and departments including me paying for advice/support, (I just let it go as it was simply not financially worth investing the time, money, energy or effort)...

G`day Marisa, You said, "I don't think anyone has suggested the process is straightforward. It's just that under the new rules, you effectively have no choice but to wait until you're 55." I disagree, there are plenty of claims both amateur, semi-professional and professional, that sugggest/offer/recommend/promote so called straight-forward solutions, including pre 55yrs and post 55yrs criteria..... The difficulty is separating the genuine solutions/information from the bogus/false/misleading claims/scams/misinformation etc.......

G`day Marisa, The links we have posted are different..... They both originate from the same general website, But, the content is different, both are relevant and very likely to be of interest to a reader........ Your Link = https://directdocs.com.au/ozsmsfdocs.html#completeq My Link = https://directdocs.com.au/ozsmigrants.html

G`day GG Sky, I too share your ability to continue travelling in ever increasing circles on this issue, I am sure there are many, many others on similar orbits to ourselves..... I quote "We have gone full circle now as a joint SMSF is looking more tenable given that we can ‘pool’ the two UK SiPPs into a single joint SMSF and benefit from some economies of scale." I have seen suggestions where SMSF, QROPS SMSF and SIPP`s are all being touted as potential vehicles that could be utilised in UK pension transfer to Aussie Super, it seems you guys already have UK SIPPS, have you considered tranferring your existing SIPPS directly across to Aussie Super thereby possibly avoiding the extra complexity of additional SMSF or QROPS SMSF.....

Many Thanks M, I am also somewhat familiar with this site too........ Like I said earlier..... "It is being suggested that once you reach 55yrs of age, it is straightforward to complete the process, many people are queing up for this age barrier to pass, however there is still a significant minefield to navigate, many people offering advice... BUT.... the stakes are very high when you can lose your life savings and who can you trust or put your faith in......... Plenty of barriers and obstacles, no directions, pathways or solutions...... Clock is ticking, how long can you afford to wait....... Seemingly, historically with time comes extra complexity and obstacles......" Same Site you have quoted, have a look here...... A little light reading....... https://directdocs.com.au/ozsmigrants.html

I feel sure that many people will share our predicament, there are plenty of obstacles and apparently no clear pathway or direction to achieve a simple and smooth transfer of your UK pension to Australian Super....... It is being suggested that once you reach 55yrs of age, it is straightforward to complete the process, many people are queing up for this age barrier to pass, however there is still a significant minefield to navigate, many people offering advice... BUT.... the stakes are very high when you can lose your life savings and who can you trust or put your faith in......... Just have a look at the Aussie Banking system and royal commission for example....... Plenty of barriers and obstacles, no directions, pathways or solutions...... Clock is ticking, how long can you afford to wait....... Seemingly, historically with time comes extra complexity and obstacles......

I am familiar with this article having read it previously, I can also access it and do not have a subscription....... It does mention the sole Aussie QROPS compliant retail super fund that we were referring to earlier in this post......

G`day Gbye GreySky, Excellent post, very well described and very well put...... I have just signed up with this forum having just stumbled on your post, I believe I am in a very similar position and completely share your thoughts and comments on this.... Disappointed that this post has stalled and seems to have all but fizzed out, I also tend to favour the sole Aussie QROPS compliant super fund that you are referring to (very much share your security concerns with this fund too), I also share your thoughts on a QROPS SMSF being unattractive, too much downside or Gotchas as you aptly put it....... The only other option seems to be a SIPP of some type or description?..... Just seems to me that the Aussie QROPS compliant super fund appears to be the most correct vehicle to use to complete the transfer, but how safe and secure are your pension funds with them?...... Also how long do you have to keep your pensions in this fund (Or any other Vehicle) before you can finally complete the transfer to your final Aussie super fund destination???...... Very, Very disappointed and frustrated that after all this time, even for the over 55`s there is still no obvious workable recommended direction or solution available to successfully transfer UK private pensions to Australia...........