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I have been in Australia for 3 years now, we are quite settled and I am looking at transferring my assets. The problem is that I have no idea how to transfer my pension, I have spoken to a couple of friends that transferred their pensions over into something called an Offshore QROPS but they seemed to have paid quite high charges (e.g. 3-5% of the total pension) are there any cheaper options out there and is this the best option?
Looking for guidance on bringing across a UK contribution pension scheme. But have some questions. Quick current status summary. We have been in Australia for 4 years first on a 457 and got granted our PR Sept 2016 (so have missed out on getting our Citizenship in September this year). We are in our mid forties. Assuming we do eventually get Citizenship and can afford to retire here my questions are: Is there tax payable if we bring across our UK pensions and put them into an Australian super fund? Ive seen some information around needing to leave the money in the fund for 5-10 years. Are we therefore best to look to bring it across now? Whats the earliest Australian super funds can be accessed come retirement? Is there limits to time spent abroad if you're drawing from your superfund in Australia. For example when retired up to 6 months is spent travelling a year. Whats the implications if the pension funds are left in the U.K. And then we draw down on them once retirement comes? if anyone has experience of retiring here it would be great to here from you. Many thanks
In May I will hit 65, I am going to defer my UK old age pension as I plan to carry on working for another year. My question is, I also have a Private Pension with a Company I used to work for, in May I could take a Lump Sum UK Tax Free form the Pension in the region of $60,000, can I bring this to Australia, through my Bank, then make the maximum top up payment in this Financial year into my Australian Super, then make a further payment early in the next Financial year. Are there any Australian tax implications
Have you moved from the UK and are wondering: Should I leave my assets in the UK? What are my options in Australia? How does the Oz system work? Are there benefits to moving my pensions to Oz? Is there an easy way to organise it? What will I be entitled to here & from the UK? Next free seminar 6pm on Tuesday 27th July at: Mandurah City Football Club Hyundai Stadium Halls Head WA 6210 Register for the next seminar at www.ukpensions.merideon.com.au or call 08 95835299.