TheBravefinch30011964

Considering whether to move my pension (approx 250 GBP) to Australia and understand without wanting to set up a SMSF with ongoing reporting responsibilities etc that AESF via ICVM is the only option. Anyone have any experience of using them, the length of time it takes to complete and the performance of the fund after moving? I saw management fees of .08% but having looked at UK costs they are at about 1% so seems in line. Main concern is being taxed on the income if I don't do this!

Any advice or insight gratefully received!

On 06/09/2019 at 19:28, Gbye grey sky said:

I have transferred my pension to the AESF using IVCM. It was more straightforward for me because my funds were valued at under $300,000 at the time I emigrated.

It is good that your UK SiPP provider is working with you because my wife’s provider wouldn’t so we ended up leaving her pension in the UK. 

On 06/09/2019 at 19:28, Gbye grey sky said:

I have transferred my pension to the AESF using IVCM. It was more straightforward for me because my funds were valued at under $300,000 at the time I emigrated.

It is good that your UK SiPP provider is working with you because my wife’s provider wouldn’t so we ended up leaving her pension in the UK. 

On 06/09/2019 at 01:54, Skippy2017 said:

I am in a fairly similar position.  I'm in the UK now and planning to return to Australia in Sep 2020.   My plan (provisionally) is to transfer $300k the first year, then $100k each year after that from my UK SIPP to an Australian QROPS.  I'm actually looking at the IVCM retail QROPS (AESF) which seems to meet my requirements.   If I end up leaving a part of my pension in a UK SIPP because I run out of time to transfer it all, so be it.   The tax on pension payments of what remains in the UK will be relatively small (assuming it will then be my only income) . (I'd compare that tax against the tax on the contribution into the Australian QROPS in later years to determine whether future transfers were appropriate).   My UK SIPP provider has confirmed ways to extract chunks from the SIPP to support this long process.

Interested to hear from anyone who has used IVCM (AESF) to hear of their experiences.

Have you been happy with ICVM and the performance of the AESF? I am looking at doing the same thing, but seems it is such a minefield to navigate and people wanting you to set up a SMSF are disparaging about AESF!