By MicheleBSeriously considering emigration to Australia as have a daughter already living there. We will have a good income from private and public pensions but not enough cash for the full contributory visa. Will we be able to pay in installments? Can we still claim our British pension whilst living in Australia? What is the chance of getting over there with a non-contributory visa? Sorry for all the questions but just starting out on our journey.
By Sarah BassLooking 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.