Jump to content

Recommended Posts

Hi, does anyone please know what happens to your super in the following scenario...

 

I am from the UK but have become an Australian Citizen and have 10 years worth of Super contributions over here. If down the line we need to move back to the UK for whatever reasons, what happens to my Super?

My belief is it will stay over here in Australia until retirement age when I can then access it. If this is true, can I then move it back to the uk once it has been accessed?

 

Any help would be greatly appreciated.

:smile:

Thanks

Share this post


Link to post
Share on other sites

Yes, you're correct.

 

It stays in Australia until you reach your preservation (retirement) age. Once you reach this age you can access your super tax-free and do what you like with it.

You can remove it as a lump sum (and spend it or invest it where-ever you want) or alternatively you can opt to draw a pension from it.

Share this post


Link to post
Share on other sites

You can't move it from an Australia Super back to the UK in "pension form" before accessing the fund/retiring, as there's (currently) no reciprocal agreement on transfers, although you can move funds from UK pensions to a "QROPS" registered Australian Super Fund.

 

Once it's actually been accessed though, you can effectively do what you want with the created income!!

Share this post


Link to post
Share on other sites

Citizenship Timeline

Date applied - 15 November 2017

City/Council area - Cockburn, WA

Online / Paper - Online

Date received the acknowledgement email - 15 November 2017

Date of the Citizenship Test - 24 August 2018

Approval - 6 September 2018

Date of ceremony - 6 November 2018

Originally from UK

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×