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Whether It is Worth Tranferring UK Pension Into Oz Super Fund


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Hi guys

 

I am an aussie who worked in Sydney for 4 years, before moving to London to work for the past 10 years. Therefore I have a aussie Super Fund with some funds in it (with KPMG which is a QROPS fund) and a UK pension.

 

In the UK I have a defined benefit pension and a PIA (pension investment account) which atm will give me about £15k-£20k pa upon retirement.

 

I want to move back to Sydney at the end of this year permanently and retire (in 25 years) and want to know broadly if it is normally sensible to move your UK pension into an aussie Super Fund? I know there is a time limit around this after returning back (I think around 6 months).

 

I guess if I set up a SMSF when I return, then it might be a good idea to move it into this so that it can be more effectively managed. I also have property in London and in Sydney which I might move into a SMSF if this is the case.

 

Any pointers, referral or guidance is appreciated.

 

Regards

James.

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  • 3 weeks later...

Hello

 

A couple of notes:

 

 

  • There is no time limit in which to transfer a foreign Super Fund to Oz;
  • If the property is residential then this is unlikely to be a viable stategy;

 

 

 

Have a read through this thread as it may help you understand a bit further: http://www.pomsinoz.com/forum/financial-advice-ask-vista/169401-uk-pension-transfers-information-thread.html

 

KR

 

Andy

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