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    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?

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    I would transfer it to your employers super fund here in Oz assuming you intend to stay permanent.

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    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


    Financial Adviser (FPA Member AFP ®) Specialising in UK Expat Advice and Pension Transfers / AR-322874 /AFSL-234951

    Accredited Mortgage Adviser (MFAA Member)

    Director  - Vista Financial Services – www.vistafs.com.au 08 8381 7177

    Vista Financial Knowledge Centre: www.vista.financialknowledgecentre.com.au  

     

    Please note that my advice is general advice only and professional financial advice should be sought for your own personal situation.

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    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

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    Hi 

    Unfortunately that's also not possible until UK retirement age (currently age 55).

    Andy

     


    Financial Adviser (FPA Member AFP ®) Specialising in UK Expat Advice and Pension Transfers / AR-322874 /AFSL-234951

    Accredited Mortgage Adviser (MFAA Member)

    Director  - Vista Financial Services – www.vistafs.com.au 08 8381 7177

    Vista Financial Knowledge Centre: www.vista.financialknowledgecentre.com.au  

     

    Please note that my advice is general advice only and professional financial advice should be sought for your own personal situation.

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