Pension Question
May 18th 2005, 11:18 am
#1
G'day Mate
Thread Starter
Joined: May 2004
Location: London for now, Australia soon.
Posts: 419
Pension Question
Hello all,
This might sound like a stupid question, but being 22 i dont everything
What happens to the pension when one moves abroad
Am i able to recover my contributions?
Many Thanks
This might sound like a stupid question, but being 22 i dont everything
What happens to the pension when one moves abroad
Am i able to recover my contributions?Many Thanks
May 19th 2005, 1:00 am
#2
Retired
Joined: Apr 2004
Posts: 34,649
Re: Pension Question
Originally Posted by Boomerang
Hello all,
This might sound like a stupid question, but being 22 i dont everything
What happens to the pension when one moves abroad Am i able to recover my contributions?
Many Thanks
This might sound like a stupid question, but being 22 i dont everything
What happens to the pension when one moves abroad
Am i able to recover my contributions?Many Thanks
Jeremy
May 19th 2005, 1:14 am
#3
ah-beng
Joined: Aug 2004
Location: ^.^
Posts: 3,113
Re: Pension Question
JAJ Is correct.
If you are in an pension that you are paying ,for example for a contributory pension through your employer you can move the fund to another recognised fund abroad generally speaking so you dont lose what you've put in.
There are specific rules about tax in terms of a timelimit that is mooted on here about moving pensions to Australia but Ive not seen this confirmed. The time limit supposedly (I repeat unconfirmed) is 6mths after emigrating or you pay tax on the fund you move.
The main thing with pensions is you need advice, everyones circumstances are different and they are a tremendously important financial commitment .
If you are in an pension that you are paying ,for example for a contributory pension through your employer you can move the fund to another recognised fund abroad generally speaking so you dont lose what you've put in.
There are specific rules about tax in terms of a timelimit that is mooted on here about moving pensions to Australia but Ive not seen this confirmed. The time limit supposedly (I repeat unconfirmed) is 6mths after emigrating or you pay tax on the fund you move.
The main thing with pensions is you need advice, everyones circumstances are different and they are a tremendously important financial commitment .
May 19th 2005, 2:38 am
#4
Retired
Joined: Apr 2004
Posts: 34,649
Re: Pension Question
Originally Posted by spalen
JAJ Is correct.
If you are in an pension that you are paying ,for example for a contributory pension through your employer you can move the fund to another recognised fund abroad generally speaking so you dont lose what you've put in.
There are specific rules about tax in terms of a timelimit that is mooted on here about moving pensions to Australia but Ive not seen this confirmed. The time limit supposedly (I repeat unconfirmed) is 6mths after emigrating or you pay tax on the fund you move.
The main thing with pensions is you need advice, everyones circumstances are different and they are a tremendously important financial commitment .
If you are in an pension that you are paying ,for example for a contributory pension through your employer you can move the fund to another recognised fund abroad generally speaking so you dont lose what you've put in.
There are specific rules about tax in terms of a timelimit that is mooted on here about moving pensions to Australia but Ive not seen this confirmed. The time limit supposedly (I repeat unconfirmed) is 6mths after emigrating or you pay tax on the fund you move.
The main thing with pensions is you need advice, everyones circumstances are different and they are a tremendously important financial commitment .
Jeremy
May 20th 2005, 6:00 am
#5
G'day Mate
Thread Starter
Joined: May 2004
Location: London for now, Australia soon.
Posts: 419
Re: Pension Question
Hello,
Thank you all for the replies and time.
Kind Regards,
Pedro
Ps - It was my work pension scheme, and i have been on it for 4 years.
Thank you all for the replies and time.
Kind Regards,
Pedro
Ps - It was my work pension scheme, and i have been on it for 4 years.
