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Old Apr 3rd 2017, 12:51 am   #1
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Default UK Pension / Investing

Hi, i have transferred my UK pension into my over 55 SMSF and have it sitting in my Aussie bank SMSF in a foreign currency account in GBP. I was wondering if anyone had experience of investing or getting advice on investing, from a foreign currency account? I would be looking to transfer to AUD once the exchange rate gets more favourable.
Cheers
Rob
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Old Apr 3rd 2017, 3:23 am   #2
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Default Re: UK Pension / Investing

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Originally Posted by robo43 View Post
Hi, i have transferred my UK pension into my over 55 SMSF and have it sitting in my Aussie bank SMSF in a foreign currency account in GBP. I was wondering if anyone had experience of investing or getting advice on investing, from a foreign currency account? I would be looking to transfer to AUD once the exchange rate gets more favourable.
Cheers
Rob
What makes you think that is a certainty?
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Old Apr 3rd 2017, 4:20 am   #3
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Default Re: UK Pension / Investing

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What makes you think that is a certainty?

Nothing to suggest it's likely to in the short to medium term...


S
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Old Apr 3rd 2017, 5:06 am   #4
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Nothing to suggest it's likely to in the short to medium term...


S
If all the doomsdayers are correct (which I suspect they are not correct) the pound is likely to suffer for the rest of this century.
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Old Apr 3rd 2017, 6:43 am   #5
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Default Re: UK Pension / Investing

Nothing in life is a certainty, but considering the current rate is 0.61 to the dollar, and the 10 year average is 0.55 and the 15 year average is 0.50 the chance that some point in the future it will be more favourable. This is why i asked the question, because i want to invest my super using GBP, rather than exchanging now when the rate is towards the lower end from my point of view.

Then there is this in today's Telegraph.
http://www.telegraph.co.uk/business/...nce-back-year/

Not that i take much notice of so called experts.

Last edited by robo43; Apr 3rd 2017 at 6:51 am.
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Old Apr 3rd 2017, 11:14 am   #6
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Default Re: UK Pension / Investing

The exchange rate improving will depend mainly on the result of Brexit negotiations and from what I'm hearing they are going downhill fast. You might end up with an even worse exchange rate in a couple of years if the Brexit goes pear shaped.
You will also be loosing out on the growth in the Ozzie market whilst paying large commissions to invest your pounds in pound denominated investments, unless you park it in Sterling deposit accounts which pay Zilch.
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Old Apr 3rd 2017, 9:19 pm   #7
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Default Re: UK Pension / Investing

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Originally Posted by robo43 View Post
Hi, i have transferred my UK pension into my over 55 SMSF and have it sitting in my Aussie bank SMSF in a foreign currency account in GBP. I was wondering if anyone had experience of investing or getting advice on investing, from a foreign currency account? I would be looking to transfer to AUD once the exchange rate gets more favourable.
As a general and conservative statement, one's savings should be invested in the same currency as their likely expenditure. Anything else is a gamble ("speculation"), not an investment. Nothing wrong with a bit of a gamble, of course: we all do that. But recognise it for what it is.
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Old Apr 3rd 2017, 10:51 pm   #8
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Default Re: UK Pension / Investing

Quote:
Originally Posted by robo43 View Post
Hi, i have transferred my UK pension into my over 55 SMSF and have it sitting in my Aussie bank SMSF in a foreign currency account in GBP. I was wondering if anyone had experience of investing or getting advice on investing, from a foreign currency account? I would be looking to transfer to AUD once the exchange rate gets more favourable.
Cheers
Rob

Hi Rob.

I'll send a PM to you with a name and contact details.

Best regards.
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Old Apr 6th 2017, 1:39 pm   #9
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Default Re: UK Pension / Investing

How did you manage to transfer your UK pension over?, do you mean it gets paid into your bank in small sums or were you able to withdraw it all somehow?

Thanks
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Old Apr 6th 2017, 3:23 pm   #10
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Default Re: UK Pension / Investing

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Originally Posted by dave99 View Post
How did you manage to transfer your UK pension over?, do you mean it gets paid into your bank in small sums or were you able to withdraw it all somehow?

Thanks
Set up an over 55 SMSF and got it QROPS accredited then transfered the whole amount.
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Old Apr 13th 2017, 1:12 am   #11
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Default Re: UK Pension / Investing

Quote:
Originally Posted by robo43 View Post
Nothing in life is a certainty, but considering the current rate is 0.61 to the dollar, and the 10 year average is 0.55 and the 15 year average is 0.50 the chance that some point in the future it will be more favourable. This is why i asked the question, because i want to invest my super using GBP, rather than exchanging now when the rate is towards the lower end from my point of view.

Then there is this in today's Telegraph.
Why a 'significantly undervalued' pound will bounce back this year

Not that i take much notice of so called experts.
In the last 2 weeks it has gone from 1.602 (Aud to GBP) up to 1.667

4 years ago, in April 2013, it was around 1.44 AUD to the GBP, but by the end of that year it was 1.82

But its all a gamble..

Back in 2001, I left a couple of thousand pounds in the UK, hoping the rate got even better... But I left it too late, it went up, from 2.9 to 3.03, but then dropped again, and kept dropping !
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