Jump to content
Andrew Williams

Obtain a UK Pension (Final Salary) Transfer Value

Recommended Posts

I would encourage anyone with a private UK Defined Benefit Pension Scheme (sometimes referred to as a final salary pension) to obtain a transfer value.

Values have been increasing steadily over the years and it is believed that they have now perhaps peaked.

We are seeing values on average standing around 25x the current annual pension benefits.

This means that if you have a UK pension and the current benefit gives you a yearly pension of £10,000 the transfer value could be £250,000.

So if you are a deferred member of a Defined Benefit (final salary) UK Pension Scheme and live in Australia we strongly believe that you should be proactive in this area and we (Vista Financial Services) can request the relevant transfer values and information for you.

We can then if required provide advice around whether these benefits are best placed where they are OR whether they are going to work better for you in retirement elsewhere we can then if appropriate carry out a transfer for you.

Our solutions include being able to transfer to an Australian Super Fund (QROPS) where applicable which is a solution only open to people above age 55 currently (due to HMRC legislation).

We are also able to provide advice on transferring into an International SIPP (perhaps as an interim measure if under age 55 until it can be transferred to an Australia Super Fund) where the money can be appropriately invested as advised by us into UK and Australian currency dominated investments (I will expand more on this solution in another post).

Please note that government pensions such a NHS and Police Pension cannot be transferred neither can the UK State Pension.

  • Like 1

Share this post


Link to post
Share on other sites

Hi Andrew

Would be interested to hear about the option to transfer to an international SIPP - when will you be posting? 

Partner and I are both in 30s so had assumed nothing could be done at this point. 

Cheers

Lisa

Share this post


Link to post
Share on other sites

Hi Lisa

Thanks for the post.

I will wait until we have done a few cases first so that we are able to make sure our process is as smooth as possible (that's coming from an advice and implementation angle not a product angle as this product/solution has been in existence for 12-18 months already (just new to us)) before I write my post as inevitably it will lead to new enquiries/business.

Look out for it on or the sister forums (you could always like our Facebook page as it will also be on there).

Thanks Lisa.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Similar Content

    • By MaxV
      There is at least one Australian Q/Rops Retail Superannuation Fund available for over 55yrs UK Pension transfers to Australia superannuation.
      IVCM, Australian Expatriate Superannuation Fund (AESF) (HMRC Q/ROPS Registered).
      Anyone had any experience/contact/dealings with this company and/or this particular fund?? 
      Got any experiences, thoughts, opinions, comments, you would like to share.......??  Good.....??   Bad.....??  Ugly....??   
      Please Share......
       
    • By MaxV
      Has anyone recently (2016/2017/2018) successfully used an Australian Over 55yrs Q/ROPS Retail Superannuation Fund to transfer their UK Pension across to Australian Superannuation??
      If So, Would you be happy to share your experiences so those that maybe interested (such as myself) could learn from them...............
      Are you perhaps familiar, or perhaps have had dealings with such an Australian Over 55yrs Q/ROPS Retail Superannuation Fund capable of transfering UK Pensions across to Australian Superannuation??               If So, Would you be happy to share your experiences so those that maybe interested (such as myself) could learn from them...............
×