MarkandS

Am currently trying to research what to do with my UK mil pension. would like to hear opinions from those who have moved. Did you keep your mil pension in Uk or get it paid direct into Aus bank etc?

Am not after any great detail as seem to be getting differing advice and can see the benefits of both.

Replies can be sent via PM if you prefer.

Thanks

Mark

seaangel

My husband leaves his in the UK. We bring it across via a currency exchange house whenever we bring a bit sum across, or just take little bits out at the cashpoint via our Nationwide debit card.

He completed the double taxation agreement form so that he no longer pays UK tax on it, only AUS tax when he does his tax return.

bignick

Hi

I'm also interested in this subject. I have my 175 Visa and got back from my initial passport stamping exercise last week. Still in the RAF and looking to PVR in 4 months to get a FS pension. I would like to leave my RAF pension in the UK as well in the same way as you do but someone has told me that when I reach 55 it will no longer 'index link' in the way that the AFPS 75 system is meant too. Have you heard anything like this? Very interested in any input you may have.

Cheers

Nick

scotvness

I kept my UK bank acount and related visa card going, pension is paid into bank account (managed online) and spent via visa card (most often when exchange rate is favourable). Done this for the past four years now - Oz tax on it is a real bummer though!
Last year I had a letter from 'Paymaster' telling me that I could arrainge with them to have it paid directly into my Oz bank account, (for a fee) so they will take care of it for you if you wish.

paddyo

Mine is paid into my UK account, I am on a 457 so the intention is to return at some point. Tax wise it suits me and means that I have a fall back, financially, in the UK. Even if I went PR I would keep it as it is, handy to have a fallback!

MarkandS

Thank you for the replies. It seems that you are keeping things in the UK.

Has anyone transferred everything to Aus?, including pension.

Regards

Mark