UK pensions in Australia

[TYRONEANDCATHERINE]

Hi all, any help with what I need to do about my Uk private pension when I move to Sydney?

 

Thanks

 

Tyrone

 

 

Tyrone (30) Catherine (30) Faye (13) and Myles (5). Moving to Sydney 15th October 2013.

Fights book, temp acc booked, packers quoting and looking for jobs.

[NicF]

Get some decent advice based on your personal circumstances. Don't transfer it if you think you won't retire in Australia as you can't transfer it back again. Depending on the fund it's in it might be best to leave it where it is or move it to somewhere else, but you really need to talk to someone who knows both systems and can give some proper advice.

[oz bound pom]

There are a couple of excellent threads on here for QROPS tranfers, have a look in the finance forums.

 

you have 6 months to transfer to Au super scheme without penalty, after that you'll start to pay tax on the increase in value since you left. Or something along those lines. Don't be panicked into the 6 month ruling thing, it's not necessarily as onerous as some people would have you believe.

 

lots of specialists in this field (but they will charge you so depending on the size of your pension fund it might not be worthwhile doing) but you can do it yourself with a bit of research and paperwork, not done it myself yet but think it's probably worth a go once we get over.