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Showing results for tags 'pension transfer'.
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I'm 27 and have a relatively small pension (no more than a few thousand), is there any benefit to moving it to Australia or just leave it in the UK? Should I just stop paying into it now purely from the perspective of moving to Australia next year or is moving to Australia irrelevant in the decision?
Hi, I am feeling very confused, angry and worried and wonder if anyone can clarify the implications of changes to UK changes for pension transfers please? I am a permanent Australian resident and fully intend on retiring in Australia (many years in the future). I have a six month old baby so have had many things other than my pension on my mind. My husband and I have only just found out about the new rules for transfers of unfunded pension schemes from the UK and I am feeling panicky (husband less so which makes me feel worse!). We we both have a Teachers Pension in the UK (mine with about 5 years service and his about 10). My husband is in the very early stages of transferring his across (himself) and I am unsure if I can transfer mine at all as I don't currently have a Super fund (as I am a stay at home mum). My questions are: Can we transfer our pensions and if so should we? Do I need a Super to transfer to and is it possible to open one whilst on a career break? If we can't transfer what does this mean for us in the future? I am worried my meagre pension will be eaten away by tax in the future. I really appreciate any any input as this is scary stuff. I am feeling very hard done to about this right now! Thanks
I have a question that perhaps should be posted elsewhere (money and finance?) but I'll try here... I moved back to the UK in March and I've not regretted it so far, had a great time I do have a reasonable amount of Superannuation stored in an Aussie employer scheme (public sector fund) I have been told several times that unless special circumstances apply I cannot access these funds until I am 65. It is possible the rules will change. THese apply to me as I hold PR at the moment, so I am treated as a resident even though I now live overseas My question is, what happens if I lose my PR status completely? This could happen if I fail to renew my RRV (I will need one next time I travel back) for example and then travel in a few years on a tourist visa. I'll then have no status in Australia and presumably different rules can apply? The Super fund are not that helpful, they just read the rules out to me Cheers, Melon
Brynno posted a topic in Money & FinanceAs a 10yr resident of Aus (never thought of going back even for a nanosecond) I suddenly find my hotmail and LinkedIn accounts being bombarded with scaremongering mail urging me to "transfer pensions now" and "get it done quick or lose it". As the holder of a MOD (UK), local government and NHS pensions I have to admit to being a bit twitchy about this mail. I understand that I will still be able to claim the pensions and that only certain pensions will be affected subject to a review by the UKPA (Pensions Agency?) as outlined with such simplicity in the last Budget. Does anyone know when this review will be finalised and what the current status of the pension transfer issue is? I certainly won't be handing anything over to these charlatans and probably won't have to after I collect my Nigerian lotto winnings. Any help appreciated. Regards