Paddy Al Posted March 8, 2019 Share Posted March 8, 2019 Hi. Just wondering if anybody has any experience of moving/transferring their pensions from UK to Oz? Does anybody have any experience of transferring private pension pots to an Australian pension scheme. Also, I was wondering if it's possible to transfer our contributions we have made into UK state pension up to this point into the Australian equivalent? Any info or guidance much appreciated. Quote Link to comment Share on other sites More sharing options...
LottyC Posted March 8, 2019 Share Posted March 8, 2019 @Paddy Al I’m so pleased you’ve asked this, I’m wondering exactly the same! Wondering whether to opt out of my pension now as it’s pityful anyway... Quote Link to comment Share on other sites More sharing options...
Marisawright Posted March 8, 2019 Share Posted March 8, 2019 There is no way to transfer the state pension, you will still be entitled to claim it from Australia. The two systems are completely different (the Australian one is means tested for a start, so if you have a private pension you may not even get it). Quote Link to comment Share on other sites More sharing options...
Paddy Al Posted March 8, 2019 Author Share Posted March 8, 2019 Thanks for info. I believe employers in Oz have to contribute into the 'Super Annuation' for their employees?? Would you happen to know if poms who have emigrated can transfer their private pension funds from UK into this? Thanks for your kind advice Quote Link to comment Share on other sites More sharing options...
Marisawright Posted March 8, 2019 Share Posted March 8, 2019 3 minutes ago, Paddy Al said: Thanks for info. I believe employers in Oz have to contribute into the 'Super Annuation' for their employees?? Would you happen to know if poms who have emigrated can transfer their private pension funds from UK into this? Thanks for your kind advice Possibly, but you may be better off to leave it. It’s a minefield and if you do it wrong it can be costly. Best to pay an expert to do it for you. @Alan Collett May be able to help Quote Link to comment Share on other sites More sharing options...
Paddy Al Posted March 8, 2019 Author Share Posted March 8, 2019 Cheers. Will reach out to Alan 1 Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted March 10, 2019 Share Posted March 10, 2019 You will need to be aged at least 55 to arrange a transfer of UK pension benefits into an Australian super fund. Best regards. Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted March 12, 2019 Share Posted March 12, 2019 On 08/03/2019 at 21:45, Paddy Al said: Hi. Just wondering if anybody has any experience of moving/transferring their pensions from UK to Oz? Does anybody have any experience of transferring private pension pots to an Australian pension scheme. Also, I was wondering if it's possible to transfer our contributions we have made into UK state pension up to this point into the Australian equivalent? Any info or guidance much appreciated. Hi Paddy The State Pension question has been dealt with above. Regards the private pension question as Alan has stated it is not possible to transfer a UK pension to an Australian Super until a person is age 55 currently. That said if you are below this age it does not mean that you have to leave your current pension arrangements in place there may be alternative options available to are more appropriate. Regards Andy Quote Link to comment Share on other sites More sharing options...
Paddy Al Posted March 12, 2019 Author Share Posted March 12, 2019 That's very helpful Andy. Thank you. Quote Link to comment Share on other sites More sharing options...
Hurstbridge3099 Posted May 5, 2019 Share Posted May 5, 2019 On transferring pensions to Australia: 1. If you have a UK Govt scheme ie NHS/Military for example - that window has closed and I don't believe you can transfer those schemes now....QROPS if my memory serves me correctly. 2. You can transfer from a UK private scheme to an AU Super fund but the Superfund needs to be recognised by the UK Inland Revenue and for some odd reason, not all AU funds are. I investigated this and was told by my fund that they were not intending to do that currently - odd given they are a large countrywide corporate fund. 3. If you are a pensions collector and have lots of little pensions then you can find plenty of people who will sell you a consolidation service and then transfer them to a single Au fund - but beware they take a large cut and as somebody else mentioned its a minefield and I have not really come cross top many people who have been successful - maybe this will stimulate some further replies on this. 4. If you are ever going to return to the UK (never say never) then that adds an extra dimension to the complexity of decision making. Quote Link to comment Share on other sites More sharing options...
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