Guest gold vision financial Posted November 9, 2013 Report Share Posted November 9, 2013 (edited) Since this has not been raised in a while I thought I would highlight that it is possible to Transfer your UK Pension Funds over to a Qualified Recognised Overseas Pension Scheme (QROPS) which is a recognised Super Fund or a Self Managed Super Fund in Australia for receiving UK pension Funds. In short most funds can be moved except for the State pension or a pension fund that is actually paying out a Pension The Second State pension can normally be moved as well such as those associated with the NHS. Should you move it within the first 6 months of arrival then it is tax free however should you do so after this period you pay tax on the earnings of the fund (if any) between the date of arrival and the date of transfer. ie your fund was worth $ 10 K when you arrived and $ 11 K when you received the funds in Australian then the earnings on the fund is $1 K only. You can then elect to pay tax on this $ 1 K. within your super fund at 15% or personally through your tax return at your margin tax rates which can be up to 45%. Not to worry we sort a tax guide out for you. The main benefits of moving the funds over is that you negate UK death taxes of up to 50% when you are drawing down a pension and whilst in pension Phase in Australia earnings are tax free. Additionally, unlike the UK, there are no restrictions on how much or when you can take your pension funds out whilst in pension phase. Our Firm can also set up and move funds into a Self Managed Super Fund thus providing further options on investments and property purchases. Where you have large balances or your require partial transfers we also provide a Exchange Service Option which saves you many thousands on exchange rates fees. Our fees are one of the lowest on the market whilst providing a professional service to not only clients but to other advisers! please do not hesitate to contact me should you need further help as it is a complex issue all the best Edited November 9, 2013 by portlaunay Advertising Quote Link to comment Share on other sites More sharing options...
portlaunay Posted November 9, 2013 Report Share Posted November 9, 2013 Hi, Welcome to PP. Whilst we appreciate your membership and advice to our community please do make yourself aware of the forum business rules as advertising will result in your posts being edited or deleted. Forum Guidelines Many thanks Quote Link to comment Share on other sites More sharing options...
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