Guest princesspom Posted June 29, 2012 Share Posted June 29, 2012 I have a small company/private pension in the UK it has about 5000 pounds in it... I have been in Oz 5 years now, can i cash this in or does it have to stay there until i retire? Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted June 30, 2012 Share Posted June 30, 2012 I have a small company/private pension in the UK it has about 5000 pounds in it... I have been in Oz 5 years now, can i cash this in or does it have to stay there until i retire? Hi Princesspom (great name BTW) You possibly have 3 options: 1) Leave where is and take benefits when you reach retirement (being predominantly an annual pension); 2) Transfer to an appropriate Australian scheme and take benefits at retirement (100% lump sum possible); 3) Leave in UK and possibly be able to encash the whole amount at retirement under the trivialty rules http://www.pensionsadvisoryservice.org.uk/workplace-pension-schemes/final-salary-schemes/cashing-in-pensions-(triviality) It is not possible to have access to these funds until retirement age (in UK) or if transferred to Oz what is known as a condition of release (generally retirement). Regards Andy Link to comment Share on other sites More sharing options...
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