Pension Transfer Companies
Jan 2nd 2007, 3:35 pm
#1
Forum Regular
Thread Starter
Joined: Aug 2005
Location: Mountain Creek, Sunshine Coast
Posts: 85
Pension Transfer Companies
Hi All and Happy New Year,
Does anyone have any experiences of using a pension transfer company? Would be most interested in a recommendation for a fixed fee, reputable agent.
Does anyone have any experiences of using a pension transfer company? Would be most interested in a recommendation for a fixed fee, reputable agent.
Jan 2nd 2007, 5:01 pm
#2
Joined: Jun 2006
Posts: 229
Re: Pension Transfer Companies
I work in this industry and would recommend organising it yourself. If you contact your current provider they should be able to tell you what they require. (TIP - If you complain in the slightest then you'll always get your own way!) Hope this helps
Jan 2nd 2007, 7:34 pm
#3
Timelord
Joined: May 2006
Location: Lost in space...
Posts: 2,834
Re: Pension Transfer Companies
K
Jan 2nd 2007, 7:39 pm
#4
Forum Regular
Joined: Oct 2006
Location: Gold Coast, Queensland
Posts: 269
Re: Pension Transfer Companies
Brilliant thread - Im finding the whole pension thing hard work and not too sure which is the best route
. Wait six months before transferring and pay the interest or transfer before leaving the UK? Please any information or help would be gratefully appreciated 
. Wait six months before transferring and pay the interest or transfer before leaving the UK? Please any information or help would be gratefully appreciated
Jan 2nd 2007, 7:42 pm
#5
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Joined: Aug 2005
Location: Mountain Creek, Sunshine Coast
Posts: 85
Re: Pension Transfer Companies
I would love to think I could to it all on my own but it's knowing what schemes to transfer it to, etc that I would need to know about. How straight forward is it?
Jan 2nd 2007, 9:30 pm
#6
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Pension Transfer Companies
Knowing which Australian funds are available (ie QROPS approved funds - if you aren't sure what that means see here: http://www.gomatilda.com/news/articl...articleid=400), and where to invest your monies is where financial planning comes into play ... and that most probably necessitates engaging a financial planner in Australia. I'm sure most migrants to Australia haven't done too much research into investment funds in Australia!
The process of moving the UK pension fund into your chosen Aussie superannuation fund is actually not that challenging (usually - depending on your UK pension scheme administrators).
If you would like the name and contact details of an Aussie financial planner please feel able to contact me.
Best regards.
The process of moving the UK pension fund into your chosen Aussie superannuation fund is actually not that challenging (usually - depending on your UK pension scheme administrators).
If you would like the name and contact details of an Aussie financial planner please feel able to contact me.
Best regards.
Jan 4th 2007, 8:03 pm
#7
Joined: Jun 2006
Posts: 229
Re: Pension Transfer Companies
Following on from Alan's post, I should add that it is dead easy for an overseas scheme to register themselves as a QROPS - all you have to do is ask them and it is a straight forward process which can be done online.
We've transferred loads and loads in the past year and none of them started off as QROPS registered.
You should set up a superannuation of your choice, then contact your UK provider and tell them that you want to transfer, they will forward a quick email or letter to your Australian provider explaining how to become a QROPS. After that it's plain sailing. Hope this helps, Oliver
We've transferred loads and loads in the past year and none of them started off as QROPS registered.
You should set up a superannuation of your choice, then contact your UK provider and tell them that you want to transfer, they will forward a quick email or letter to your Australian provider explaining how to become a QROPS. After that it's plain sailing. Hope this helps, Oliver
Jan 5th 2007, 1:23 pm
#8
Forum Regular
Thread Starter
Joined: Aug 2005
Location: Mountain Creek, Sunshine Coast
Posts: 85
Re: Pension Transfer Companies
Following on from Alan's post, I should add that it is dead easy for an overseas scheme to register themselves as a QROPS - all you have to do is ask them and it is a straight forward process which can be done online.
We've transferred loads and loads in the past year and none of them started off as QROPS registered.
You should set up a superannuation of your choice, then contact your UK provider and tell them that you want to transfer, they will forward a quick email or letter to your Australian provider explaining how to become a QROPS. After that it's plain sailing. Hope this helps, Oliver
We've transferred loads and loads in the past year and none of them started off as QROPS registered.
You should set up a superannuation of your choice, then contact your UK provider and tell them that you want to transfer, they will forward a quick email or letter to your Australian provider explaining how to become a QROPS. After that it's plain sailing. Hope this helps, Oliver
Jan 5th 2007, 8:32 pm
#9
Forum Regular
Joined: Oct 2006
Location: Gold Coast, Queensland
Posts: 269
Re: Pension Transfer Companies
I have tried to talk to our pension advisors my OH has two however Im not getting anywhere unless we pay a lot. Please help?!
Jan 5th 2007, 8:40 pm
#10
Joined: Jun 2006
Posts: 229
Re: Pension Transfer Companies
You will need to go bypass the ifa/scheme advisers and go straight to the administrators (i.e. axa,norwich union etc etc) as they will never charge you anything.
