Uk pension?

[SUPERSTARDJ01]

Hi all,

 

We've made the decision to emigrate after 2 weeks in cairns, my wife was recently off sick for an injury and had ti stop her pension, is it worth her starting it up again? She has maybe £5000 in it, also is it at all possible to draw out your pension if moving abroad?

 

Cheers

 

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[Guest The Pom Queen]

Cairns is wonderful no wonder you want to move there. We spent 5 years of our life there and it's the most beautiful place in the world.

Have a chat with @Andrew from Vista Financial He is our pensions expert

[Andrew from Vista Financial]

22 hours ago, SUPERSTARDJ01 said:

 

Hi all,

 

We've made the decision to emigrate after 2 weeks in cairns, my wife was recently off sick for an injury and had ti stop her pension, is it worth her starting it up again? She has maybe £5000 in it, also is it at all possible to draw out your pension if moving abroad?

 

Cheers

 

Sent from my LG-H850 using Tapatalk

 

 

 

Hi there

Whether it is worth her starting it up again would depend on a number of individual circumstances and is not a one size fits all answer I'm afraid but my answer to your second question may (or may not) help.

Typically access to private pensions in the UK is not allowable until age 55 even if you are moving to Australia. It is possible to transfer UK Pensions to Australia however since April 2015 Australian Superannuation (Pension) legislation does not align with UK Pension legislation predominantly this being the age at which money can be accessed  and therefore it is now only possible to transfer UK Pensions to Australia now once a person is over age 55.

Hope this helps (a bit)

Kind regards

Andy