Did you transfer your UK pension AFTER 6 months from entry?
Jun 1st 2007, 1:10 pm
#1
Banned
Thread Starter
Joined: Sep 2006
Location: Perth, Northern Suburbs (Little Britain)
Posts: 537
Did you transfer your UK pension AFTER 6 months from entry?
I've been slack and not transferred my pension within the 6 months of getting here. 
Been in Oz for 7 months (PR visa for just over a year).
Anyone know if it's going to hurt?
Been in Oz for 7 months (PR visa for just over a year).
Anyone know if it's going to hurt?
Jun 1st 2007, 2:42 pm
#2
BE Enthusiast
Joined: Jun 2007
Location: Montmorency, Vic
Posts: 325
Re: Did you transfer your UK pension AFTER 6 months from entry?
I've been reading up about this too and if you search the forums it seems it is best to do it within 6 months, but there is a lot of info on this and other expat sites (britvics, poms in oz) about moving your money and stuff...sorry am not more help!
Jun 1st 2007, 2:49 pm
#3
Gone for Good
Joined: Nov 2004
Location: Mandurah, WA
Posts: 138
Re: Did you transfer your UK pension AFTER 6 months from entry?
I think my pension scheme is much better here. With GESB and their online system is very good...at least you can get a proper look at what you've got. I haven't got a clue what my UK pensions looks like. It's with Friends Provident administered by a third party and all I get is bits of paper every year which just don't make sense!
Jun 1st 2007, 3:12 pm
#4
Forum Regular
Joined: Sep 2006
Location: reynella adelaide
Posts: 233
Re: Did you transfer your UK pension AFTER 6 months from entry?
Me too being slack....time seems to fly by and only gettting round to it after 2 years. Only doing it now and hoping to have it sorted before 1 July when the laws are supposedly changing? To be honest pensions are one of those things I just can't get my head around and there seems to be no transparency....you could get totally shafted and not know anything about it imo.
I think my pension scheme is much better here. With GESB and their online system is very good...at least you can get a proper look at what you've got. I haven't got a clue what my UK pensions looks like. It's with Friends Provident administered by a third party and all I get is bits of paper every year which just don't make sense!
I think my pension scheme is much better here. With GESB and their online system is very good...at least you can get a proper look at what you've got. I haven't got a clue what my UK pensions looks like. It's with Friends Provident administered by a third party and all I get is bits of paper every year which just don't make sense!
ive been putting £100 per month into it since i was 23...im now 32..33 in july and the pension is worth £9000...so for every £100 i put in it works out only £80 goes in
Last edited by chippie74; Jun 1st 2007 at 3:23 pm.
Jun 2nd 2007, 7:07 am
#5
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Did you transfer your UK pension AFTER 6 months from entry?
Any Aussie tax liability will be based on the increase in the value of your pension fund between the day you become a tax resident of Australia and the day it is received by the Australian superannuation fund.
Also, the tax charge is usually borne by the fund that receives the pension transfer rather than you personally - and is subject to tax at 15%.
Section 27CAA of the Income Tax Assessment Act 1936 is the relevant charging provision if you are technically minded.
Best regards.
Also, the tax charge is usually borne by the fund that receives the pension transfer rather than you personally - and is subject to tax at 15%.
Section 27CAA of the Income Tax Assessment Act 1936 is the relevant charging provision if you are technically minded.
Best regards.
