Can anyone recommend a Financial Advisor for transferring pensions
 

Hi, we are looking to transfer our pension from the UK to Australia, can anyone recommend a good financial advisor based in Australia.

Many thanks

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

After looking at the exorbitant fees that these firms charge, we ended up opening a Virgin Super account (which has QROPS status of course) and doing it ourselves. Only one form to fill in to get the ball rolling and it was all done online (well apart from signing the form and posting it off). All correspondence done by email. Fees are capped at a sensible rate. Worth a look? http://virginmoney.com.au/superannua...r-super/#first

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

It is very straightforward to do it yourself.

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

Most the big super providers have their own dept who handle such transfers.

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

yes super funds have departments who can process your paper work to transfer your funds over however they do not provide advice or work out your tax payable on such transfers - they simply just process the paper work.

You transfer involves much more than simply the physical transfer. You have taxation issues as well when you can access the funds and move the funds without triggering a penalty tax from the UK government.


PM sent to you

John

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

I'm pretty sure that advertising via pm is frowned upon too ;)

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

Please do not send unsolicited PM's to other members regarding your services. This is a discussion forum for members to share experiences, it is NOT to be used as a platform for you to tout for business.

Thank you!

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

Thanks for the info - new to site and have addressed the issue on PM with the relevant parties concerned. many thanks John

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

Thanks guys, will have a look

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

Damn there goes my home happy ending massage service.

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

For those looking at transfers of their UK pensions the Aust Government this week confirmed that the amount allowable to be transferred per year will increase from $ 150,000 to $ 180,000 as of 01 July 2014.

This simply means whether or not you use a professional or do it yourself, you will be able to bring more funds across. Please note that the $ 150,000 limit per year remains in force until 30 June 2014!

cheers John

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

Best to look at Industry Superannuation Funds, http://industrysuper.com.au/choose-i...superfund.aspx, their profits go to the members, just a small annual fee not the exorbitant ones charged by some others.

During our last 20 years of work we attended 2 or 3 retirement seminars every year, learning all about it and keeping in touch with the legislation is very worthwhile, you do not have to be the innocent trusting someone else.

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

I agree with Nigel, the more you can educate yourself the better you will be generally. Centrelink run regular retirement seminars free of charge and these are helpful in preparing yourself for retirement especially if you will be relying on social security payments or part payments.

http://www.humanservices.gov.au/cust...rvice-seminars

Things have change over the past 2 years with super funds. Recent My Super reforms have come in which means default employer funds are required to be low cost funds. Additionally many retail funds now also offer low cost super funds which are on par with the running cost of an Industry fund if not cheaper in some cases.

https://www.moneysmart.gov.au/supera...r-fund/mysuper

It really now an even playing field and the type of fund you chose will be dependent on many individual requirements.

cheers john

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

It might of all changed now but we transferred ours while we were in Aus for a few years then we just rolled it into our Aus Super and did not pay any fee's at that time. I would wait until your as sure as you can be that your staying in Aus. Good luck

Re: Can anyone recommend a Financial Advisor for transferring pensions
 

Concur with Brits statement - whilst you have a 6 month tax free period to affect the transfer from date of arrival, you should only do so if you are absolutely sure that you are staying!!

:-)

cheers john