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Pegs posted a topic in Money & FinanceI have been married for 25 years and we have lived in Perth, Australia for the last 7 years. We both have citizenship and intend to remain here. Unfortunately, we have grown apart and in April 2018, separated amicably. We have agreed terms of a Financial settlement which includes allocating my soon to be ex-wife a significant portion of my Group Personal Pension plan with Standard Life in the UK. On contacting them to determine the necessary wording of an Australian Court's consent order, Standard Life wrote to state that they would not recognise the Australian order and I would need a Court Order issued by a UK Court. Does anyone have any experience of splitting of UK based pension as part of an Australian, obtaining a UK Court Order and, importantly, recommending a UK Solicitor who has relevant experience. The one I contacted online from a Google advert was quoting GBP3,000 - GBP5,000 (!!) Any help would be appreciated
Tjsmum posted a topic in UK ChatHi everyone, i have been living in Australia for 10 years and have been trying to figure out what section I am classed as when it comes to paying into my UK pension. I had applied as Class 2, then I got a casual job and was informed to pay Class 3, however I have seen online that I can still pay Class 2 even though I’m working?! I am looking at paying the maximum of 6 years catch up, plus the yearly rate until I retire to go back home to the UK (2050). I would be paying from my Aus bank via WU. If you are paying into your UK Pension what class do you pay? and how much? How long have you been away from the UK? How do you make your payments? Thank you for your time, one very homesick Pom.
Lanky Lad posted a topic in Money & FinanceI made a similar post in.... looking like the wrong place ( hope its OK mods??) Seems as a result of a Royal Commission on banks /finance and loan companies and allowing loans beyond the means of the recipient to keep up the payments - that an income baseline was set and any UK expat in aussie with only the UK State Pension and especially if it was maybe granted 10/15 years ago ... can have issues getting a car loan and run fact any loans. OK to keep on topic...its only experience from UK pensioners I am looking for... however for those that don't grasp that these "new" condition affect all and any loans supplier on any type of purchase, I accept these are more often " unsecured" loans and banks and some other finance shops can offer secured loans - using mainly your home if you own it. I am more concerned in attitudes from car dealerships and car finance. It seems the income baseline has been set around the minimum allowance for the Aussie State Pension, which unlike the UK state pension - can be amended and or withdrawn. It seems that cardinalships et al, are under the impression that the UK state pension is the same - which ( so far) is not so. So any UK state pension only funded having or had this problem??
HMRC has re-released the Recognised Overseas Pension Scheme (ROPS) list released following the temporary suspension it put in place on 14 April. This follows the March UK budget where vast changes to the QROPS system were made and so required Scheme Managers of QROPS to essentially reconfirm in writing to HMRC that they remain QROPS by the 13 April. The new list is here: https://www.gov.uk/government/publications/list-of-qualifying-recognised-overseas-pension-schemes-qrops/list-of-recognised-overseas-pension-schemes-notifications#australia The sole Australian Retail Scheme has again appeared on the new list which as a reminder is exclusive to members age 55 and over. Regards Andy