Guest jgwines Posted January 8, 2009 Share Posted January 8, 2009 I have recently relocated to Sydney from Dubai and hold a 457 visa. I have read lots of posts and other resources regarding transfer of UK pensions, however, I have been unable to get a conclusive answer to the following questions: 1 - Can a UK pension be transferred whilst on a 457 visa? 2 - What happens to the money post transfer if I decide to leave Austalia? I hope you can answer my questions! Link to comment Share on other sites More sharing options...
Guest Gunner Posted January 8, 2009 Share Posted January 8, 2009 I have recently relocated to Sydney from Dubai and hold a 457 visa. I have read lots of posts and other resources regarding transfer of UK pensions, however, I have been unable to get a conclusive answer to the following questions: 1 - Can a UK pension be transferred whilst on a 457 visa? 2 - What happens to the money post transfer if I decide to leave Austalia? I hope you can answer my questions! I transferred my pension from the UK a number of years ago. I had to sign a form stating that i did not plan to ever return to the UK. Not sure what happens if you do perhaps they send the pension police around ? Link to comment Share on other sites More sharing options...
Quoll Posted January 8, 2009 Share Posted January 8, 2009 Why would you want to transfer a UK pension on a 457 visa? If you are intending to be temporarily resident there really isnt much use in bringing it over I would have thought. Any money you put away into super while you are here may be reclaimed when you leave providing you have not become a permanent resident because as soon as that happens your super is stuck here until you reach retirement age even if you nick off home again. Link to comment Share on other sites More sharing options...
Guest jgwines Posted January 8, 2009 Share Posted January 8, 2009 My plan is to see out my 457 visa and then go for permanent residence all things well. However, the advantage is, if I can transfer out my UK pension whilst on a 457 visa and then leave after 4 years, I assume I can take my super and my UK pension and invest as I wish. Whereas in my current situation, my UK pension is locked away and isn't working as hard as it potentially could. Link to comment Share on other sites More sharing options...
Mongrel Posted January 8, 2009 Share Posted January 8, 2009 My plan is to see out my 457 visa and then go for permanent residence all things well. However, the advantage is, if I can transfer out my UK pension whilst on a 457 visa and then leave after 4 years, I assume I can take my super and my UK pension and invest as I wish. Whereas in my current situation, my UK pension is locked away and isn't working as hard as it potentially could. Transfer it here it will work hard going down the plug hole Mally Link to comment Share on other sites More sharing options...
Quoll Posted January 8, 2009 Share Posted January 8, 2009 Even if you could roll it into an Aus super fund and then took it away again later you wouldnt get the tax concession that the rest of us do apparently http://www.aph.gov.au/library/pubs/bd/2008-09/09bd046.pdf Ours aren't working at all, they have turned up their toes and died already:biglaugh: Link to comment Share on other sites More sharing options...
Alan Collett Posted January 8, 2009 Share Posted January 8, 2009 It often depends on the trustees of the UK pension fund. If you would like to discuss this issue with my colleague who advises on pension transfers from the UK to Australia please send me a PM or an email with your contact details (your email address and T number would be good). Best regards. Link to comment Share on other sites More sharing options...
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