Ossie Permanent Resident transferring super back to U.K
Apr 6th 2011, 11:31 am
#1
Forum Regular
Thread Starter
Joined: Jul 2007
Posts: 60
Ossie Permanent Resident transferring super back to U.K
Ossie Permanent Resident transferring super back to U.K
O.K, I've asked this question before, however I've not had a definitive answer. I lived in ozz for around 5 years, I become a permanent resident after about 3 then decided my life belonged back in the U.K. I'm a British national.
Can someone who has knowledge in this field advise me if I can consolidate all my super funds in ozz (which will be around 3 or 4) and move the money to a U.K fund.
Simple question, however I doubt if the answer will be as simple.
O.K, I've asked this question before, however I've not had a definitive answer. I lived in ozz for around 5 years, I become a permanent resident after about 3 then decided my life belonged back in the U.K. I'm a British national.
Can someone who has knowledge in this field advise me if I can consolidate all my super funds in ozz (which will be around 3 or 4) and move the money to a U.K fund.
Simple question, however I doubt if the answer will be as simple.
Apr 6th 2011, 12:22 pm
#2
Lost in BE Cyberspace
Joined: Sep 2007
Location: Canberra
Posts: 8,378
Re: Ossie Permanent Resident transferring super back to U.K
Not according to the ATO. They say you can move it if you are a temporary resident but not if you are permanent or citizen.
However, some people who have returned insist that they have been able to retrieve their super - whether they had to prove the destruction of their permanent visa or whether they cried poor I have no idea as no one seems to have been crystal clear on how it was done.
Good luck and do let us know if you have been able to manage it and what proof was required as there will be quite a few returnees who would be interested.
However, some people who have returned insist that they have been able to retrieve their super - whether they had to prove the destruction of their permanent visa or whether they cried poor I have no idea as no one seems to have been crystal clear on how it was done.
Good luck and do let us know if you have been able to manage it and what proof was required as there will be quite a few returnees who would be interested.
Apr 6th 2011, 12:25 pm
#3
Rhino with a big horn!
Joined: Feb 2011
Posts: 3,117
Re: Ossie Permanent Resident transferring super back to U.K
Ossie Permanent Resident transferring super back to U.K
O.K, I've asked this question before, however I've not had a definitive answer. I lived in ozz for around 5 years, I become a permanent resident after about 3 then decided my life belonged back in the U.K. I'm a British national.
Can someone who has knowledge in this field advise me if I can consolidate all my super funds in ozz (which will be around 3 or 4) and move the money to a U.K fund.
Simple question, however I doubt if the answer will be as simple.
O.K, I've asked this question before, however I've not had a definitive answer. I lived in ozz for around 5 years, I become a permanent resident after about 3 then decided my life belonged back in the U.K. I'm a British national.
Can someone who has knowledge in this field advise me if I can consolidate all my super funds in ozz (which will be around 3 or 4) and move the money to a U.K fund.
Simple question, however I doubt if the answer will be as simple.
Apr 6th 2011, 12:26 pm
#4
Rhino with a big horn!
Joined: Feb 2011
Posts: 3,117
Re: Ossie Permanent Resident transferring super back to U.K
Not according to the ATO. They say you can move it if you are a temporary resident but not if you are permanent or citizen.
However, some people who have returned insist that they have been able to retrieve their super - whether they had to prove the destruction of their permanent visa or whether they cried poor I have no idea as no one seems to have been crystal clear on how it was done.
Good luck and do let us know if you have been able to manage it and what proof was required as there will be quite a few returnees who would be interested.
However, some people who have returned insist that they have been able to retrieve their super - whether they had to prove the destruction of their permanent visa or whether they cried poor I have no idea as no one seems to have been crystal clear on how it was done.
Good luck and do let us know if you have been able to manage it and what proof was required as there will be quite a few returnees who would be interested.
Apr 6th 2011, 1:14 pm
#5
Forum Regular
Thread Starter
Joined: Jul 2007
Posts: 60
Re: Ossie Permanent Resident transferring super back to U.K
Not really what I wanted to hear but appreciate your feedback thus far.
I'm sure its possible going the other way, i.e moving pensions from U.K to Australia, I remember there being adverts on T.V while I was over there.
Does this mean I would need to wait until I'm 65, or older (who knows when retiring age will be by then) before I can actually withdraw this money?
I'm sure its possible going the other way, i.e moving pensions from U.K to Australia, I remember there being adverts on T.V while I was over there.
Does this mean I would need to wait until I'm 65, or older (who knows when retiring age will be by then) before I can actually withdraw this money?
Apr 6th 2011, 1:20 pm
#6
Devil's Advocate
Joined: Feb 2008
Location: Mandurah
Posts: 2,269
Re: Ossie Permanent Resident transferring super back to U.K
Not really what I wanted to hear but appreciate your feedback thus far.
I'm sure its possible going the other way, i.e moving pensions from U.K to Australia, I remember there being adverts on T.V while I was over there.
Does this mean I would need to wait until I'm 65, or older (who knows when retiring age will be by then) before I can actually withdraw this money?
I'm sure its possible going the other way, i.e moving pensions from U.K to Australia, I remember there being adverts on T.V while I was over there.
Does this mean I would need to wait until I'm 65, or older (who knows when retiring age will be by then) before I can actually withdraw this money?
Apr 6th 2011, 1:24 pm
#7
Rhino with a big horn!
Joined: Feb 2011
Posts: 3,117
Re: Ossie Permanent Resident transferring super back to U.K
Not really what I wanted to hear but appreciate your feedback thus far.
I'm sure its possible going the other way, i.e moving pensions from U.K to Australia, I remember there being adverts on T.V while I was over there.
Does this mean I would need to wait until I'm 65, or older (who knows when retiring age will be by then) before I can actually withdraw this money?
I'm sure its possible going the other way, i.e moving pensions from U.K to Australia, I remember there being adverts on T.V while I was over there.
Does this mean I would need to wait until I'm 65, or older (who knows when retiring age will be by then) before I can actually withdraw this money?
The age for accessing super is between 55 and 60 depending on how old you are now.
There are ways of accessing super early but these normally involve hardship or ill health. Although I think anyone can access their super money if they transfer it to a non-transferable annuity (although this would probably have to be in Aus).
Apr 6th 2011, 8:54 pm
#8
Lost in BE Cyberspace
Joined: Sep 2007
Location: Canberra
Posts: 8,378
Re: Ossie Permanent Resident transferring super back to U.K
Not really what I wanted to hear but appreciate your feedback thus far.
I'm sure its possible going the other way, i.e moving pensions from U.K to Australia, I remember there being adverts on T.V while I was over there.
Does this mean I would need to wait until I'm 65, or older (who knows when retiring age will be by then) before I can actually withdraw this money?
I'm sure its possible going the other way, i.e moving pensions from U.K to Australia, I remember there being adverts on T.V while I was over there.
Does this mean I would need to wait until I'm 65, or older (who knows when retiring age will be by then) before I can actually withdraw this money?
Apr 6th 2011, 9:01 pm
#9
Rhino with a big horn!
Joined: Feb 2011
Posts: 3,117
Re: Ossie Permanent Resident transferring super back to U.K
Apr 6th 2011, 10:26 pm
#10
Bright in Orange
Joined: Nov 2004
Location: Orange, NSW
Posts: 515
Re: Ossie Permanent Resident transferring super back to U.K
As said there is different tax treatments that are the problem. You can normally take your super in Oz early if you are ill or in serious financial difficulty and about to lose your house. When you reach retirement age, even if you are in the uk, you can then withdraw your super in one lump if you want and convert it to pounds.
Good luck
Apr 6th 2011, 10:34 pm
#11
Rhino with a big horn!
Joined: Feb 2011
Posts: 3,117
Re: Ossie Permanent Resident transferring super back to U.K
You can bring your pension here - within various rules. But I was advised that I needed to be really sure I was staying here as it would not be possible to take it back to the uk again (as well as being vv expensive).
As said there is different tax treatments that are the problem. You can normally take your super in Oz early if you are ill or in serious financial difficulty and about to lose your house. When you reach retirement age, even if you are in the uk, you can then withdraw your super in one lump if you want and convert it to pounds.
Good luck
As said there is different tax treatments that are the problem. You can normally take your super in Oz early if you are ill or in serious financial difficulty and about to lose your house. When you reach retirement age, even if you are in the uk, you can then withdraw your super in one lump if you want and convert it to pounds.
Good luck
Apr 6th 2011, 11:46 pm
#12
Joined: Jul 2010
Posts: 213
Re: Ossie Permanent Resident transferring super back to U.K
You can transfer it back when qualify to access super ? 60 ish ?
Apr 7th 2011, 2:45 am
#13
Addicted to browsing BE
Joined: Oct 2005
Location: Brisbane, QLD
Posts: 2,046
Re: Ossie Permanent Resident transferring super back to U.K
Can you transfer if your PR has lapsed?
Never heard if this has been done but thought it may be a consideration!
Never heard if this has been done but thought it may be a consideration!
Apr 7th 2011, 2:58 am
#14
Account Closed
Joined: Sep 2006
Posts: 4,374
Re: Ossie Permanent Resident transferring super back to U.K
Ossie Permanent Resident transferring super back to U.K
O.K, I've asked this question before, however I've not had a definitive answer. I lived in ozz for around 5 years, I become a permanent resident after about 3 then decided my life belonged back in the U.K. I'm a British national.
Can someone who has knowledge in this field advise me if I can consolidate all my super funds in ozz (which will be around 3 or 4) and move the money to a U.K fund.
Simple question, however I doubt if the answer will be as simple.
O.K, I've asked this question before, however I've not had a definitive answer. I lived in ozz for around 5 years, I become a permanent resident after about 3 then decided my life belonged back in the U.K. I'm a British national.
Can someone who has knowledge in this field advise me if I can consolidate all my super funds in ozz (which will be around 3 or 4) and move the money to a U.K fund.
Simple question, however I doubt if the answer will be as simple.
Apr 7th 2011, 3:12 am
#15
BE Forum Addict
Joined: Jul 2007
Location: Brisbane
Posts: 2,949
Re: Ossie Permanent Resident transferring super back to U.K
The only time it gets done is when the super company cocks up.