m90 Posted October 3, 2017 Share Posted October 3, 2017 I'm 27 and have a relatively small pension (no more than a few thousand), is there any benefit to moving it to Australia or just leave it in the UK? Should I just stop paying into it now purely from the perspective of moving to Australia next year or is moving to Australia irrelevant in the decision? Link to comment Share on other sites More sharing options...
Coblers Posted October 6, 2017 Share Posted October 6, 2017 I would transfer it to your employers super fund here in Oz assuming you intend to stay permanent. Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted October 9, 2017 Share Posted October 9, 2017 Hey there Apologies for the delay. Given your age then it is not possible to move the pension to an Australian Superannuation (Pension) Fund at this stage, you now need to be at least age 55 to be able to do this. You should just ensure that you keep your details up to date with the provider and keep a fairly regular check of how it is performing and how it is invested (ie within your risk tolerance). Regards making payments to it, you could obviously continue to do so however if you are going to be living and working (earning) in Australia it may be just as beneficial (if not more depending on a number of factors) to make additional contributions to a Fund here. Hope this helps. Regards Andy Link to comment Share on other sites More sharing options...
m90 Posted October 10, 2017 Author Share Posted October 10, 2017 Thanks, very helpful!How about withdrawing it all as a lump sum? I don't really want to leave it in the U.K. separate from everything I'd plan to have in AUS (unless it's really financially the best option).I plan to travel for a few months before I move to Australia so would I get the 25% tax free then the 75% would be mostly take up by my personal allowance for the pro rata couple of months (I wouldn't be working) given it's a small amount? I would presumably be subject to the same rules when I retire anyway so as far as I can tell there's no disincentive to doing that financially? (besides the impact on my retirement fund)Sent from my iPhone using PomsinOz Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted October 12, 2017 Share Posted October 12, 2017 Hi Unfortunately that's also not possible until UK retirement age (currently age 55). Andy Link to comment Share on other sites More sharing options...
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