Stevie39

Hi all,

Sorry if this has been answered, but I couldnt see an answer after searching.

I have a final salary pension, I want to freeze it in the UK.

Is there any way I can do anything now before leaving to prevent
paying tax in Oz on the lump sum?......... it's a while off.
It would be tax free in the UK.

I know there must be someone out there that has some knowledge on this and no one will be held to account. I would value your perspective only.

Is the easy answer no, I must take a hit in Oz cos thats what they do?

Thanks in anticipation.

Stevie

rossifumi

PM'd you.

joho

could you pm me the info too please. I have been here 6 months and the only thing I have done is change our addresses.

Jo

lovealot

could you also let us know as we both have pensions and were wondering this also
Josie

Elaine M

And me too please!

Have decided to leave my final salary civil service pension in the UK but not really sure why

Elaine M

NedKelly

This is not financial advice but some other things you should consider. With the massive (and I mean MASSIVE) shortfall in UK pensions savings I personally wouldn't leave one penny for that gasping goldfish Brown to get his claws into. They are already talking about a levy on pension funds to pay for the new Pension Compensation Fund and he already theives a Maxwell per week on them already. Pension funds are a target for New Labour Taxes. Beware. The fiasco about freezing state pensions where the recipient has moved overseas is another reason to worry. Will the civil service do the same and follow suit? Suppose they raise the retirement age in the UK. Don't expect to get paid your pension early. There may be sound financial reasons to leave your pension in the UK. It's the political uncertainty that you can't plan for. You also need to consider long term exchange rates. UK and european growth fiqures are very low. Australia is doing well. Any economist would tell you that this would normally lead to a worsening exchange rate when converting sterling to Australian dollars. Run that lot past your financial advisor first before deciding what to do.

Alan Collett

Hello Stevie.

Although final salary schemes are like gold dust these days be mindful that the lump sum on retirement that is tax free in the UK may well not be tax free in Australia ... before you make a decision I would consider taking some professional advice.

All of which isn't intended to drum up business for tax advisors like me ... :-) ... but if you think you might need some advice please send me an email or complete the details here (excuse the photo!):
http://www.collettandco.com/contact.cfm

Best regards.

Stevie39

Thanks everyone for the replies.

I do appreciate I need some financial assistance here so will look into it.
Alan, I'll look into your site.
Thanks for the info.

Regards,

Stevie

Stevie39

Alan,

I have PM'd you,

Thanks,

Stevie

Alan Collett

Got it - thanks Stevie.

Best regards.