Que Sera Sera Posted February 7, 2010 Share Posted February 7, 2010 Can someone help please ? I worked for a company for 18 years and paid into a final salary pension, when I left the company it was frozen. I am 42 and am moving to Australia in June. Is there anything I should do before I leave the UK or merely just give them my new address? I also have a civil service pension which I have been paying for 3 years is it "worth" doing anything about that one? Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted February 7, 2010 Share Posted February 7, 2010 Hi There is nothing really that you need to do beforehand, when you arrive in Australia and have a new address you can update your details with them. When you have settled in Australia and have the intent to stay you should consider taking advice on the best thing to do with them. It is possible to have them transferred to an Australian Superannuation fund but you will need to understand all of the implications involved. This can be a very complex area especially with Final Salary schemes. I would suggest that you talk to an Adviser that has knowledge of UK Pensions as they differ greatly to Australian schemes. If you have any further questions feel free to ask. Regards Andy Link to comment Share on other sites More sharing options...
Guest Jackie Smith Posted February 8, 2010 Share Posted February 8, 2010 One thing I would recommend you do around the time you move is to ask both pension funds to provide you with the current transfer value of each fund. Whether you decide to transfer the funds to Australia or not, you will need to know the value of the fund at the time you arrive in Australia and this information can be almost impossible to obtain a few years down the track. Probably the best thing to do is to wait until you're in your new home in Australia then write to each pension fund to let them know your new address and to ask them for the transfer value. Link to comment Share on other sites More sharing options...
Guest Liam Posted February 9, 2010 Share Posted February 9, 2010 Catherine With 21 years pension funds to consider I think you should get some decent advice on the matter. I have just read through Jackie Smith's website http://www.planmigrateprosper.com and from what I have read she should be your first port of call if you are planning to head to Perth. I offer the same services here in Sydney but based on the content of Jackie's site I am sure she will provide you unbiased advice suitable to your needs for a fraction of what some of the firms are charging people. Take her advice on getting a current balance on both your funds..its saves time, hassle and possibly tax in the future. best wishes Liam Link to comment Share on other sites More sharing options...
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