People who migrate permanently to Australia can transfer their UK pension schemes into an Australian superannuation fund.
However, transfers can only be made to an Australian superannuation fund that is a Qualifying Recognised Overseas Pension Scheme (QROPS) with the UK Revenue and Customs department. There are also some tax issues of which you need to be aware. For instance, the sooner you transfer your UK pension fund to Australia, potentially, the less tax you'll pay.
Taking expert advice on the issue as soon as you arrive in Australia is advisable – call us on 02 8086 2462 to make an appointment to talk to an adviser.
Majella Wealth Advisers has significant experience in advising clients on transfers of UK pension funds and in helping clients through the administrative requirements to have them correctly transferred.
Compared to other service providers in this field, our service offering is more ‘holistic’ and typically better value. We will advise you on your UK pension transfers as part of your overall financial planning needs and after consideration of your particular circumstances. Majella Wealth Advisers is also licenced to provide you with ongoing investment advice.