bradsue

Hi ya
Is there any one out there, who has recently transferred a pension over from the UK and if so, can you recommend the company you used to assist with this.There is so many ones on the internet,
Many thanks
Sue (Perth)

Mandy&Cliff

Sue, you do not need to pay these companies 2-5% of your pension. If you have taken financial advice and it is recommended that you bring yours out, then join one of the QROPS super funds (AustralianSuper, SunSuper) look at them on the internet, when you have joined tell them you wish to roll over a UK fund and they will send you out the forms, complete them and sit and wait at no cost to you, they want your money in their fund so are only willing to do the leg work.

DrWho

Yup, that's what we did... Australian Super have been really good...

Mandy&Cliff

How long did yours take.

DrWho

Still waiting... We did the assessment stuff and then had a good look around... Lots of people would do it but wanted a large chunk of what is a relatively small pot for us... Then saw a really good post on here, can't remember who wrote it, that outlined a lot of stuff and mentioned Aussie Super... We contacted them, filled some forms out, filled some more out, and now it's in the pipeline... Just really wanted to get it done with as little cost & hassle as possible, then sort a pension out here when we're more settled...

bradsue

Thanks for that advice,will look into getting that sorted
sue

Alan Collett

Sue,

A list of QROPS funds is available via this webpage:
http://www.gomatilda.com/news/article.cfm?articleid=400

Best regards.

RRZ

Some (really) good news, I think. The firm doing my transfer has just sent me a link to an article in the UK which says that the HMRC have given the "green light" to pension transfers to Australia after June 30. See the following:

http://www.ifaonline.co.uk/public/sh...ageName=449252

Obvioulsy there has been some discussion within the HMRC but some of the firms, named eslewhere, have been really winding this up. The process is already stressful enough without their assistance!

Cheers

Alan Collett

The cynic in me says this was only ever a hyped up exercise to "encourage" individuals to arrange pension transfers. Pension benefits transferred from a UK scheme to an Australian superannuation fund have had tax advantages for a fair while now (ie funds transferred can be accessed on a tax free basis at retirement), so I don't really see what relevance the new super regime in Australia has when compared to the previous version.

I'm happy to be be better informed if someone can tell me what relevance the 01/07/2007 superannuation changes have to transfers from a UK pension fund ...

Best regards.

RRZ

I totally agree, I was trying to be "nice". One firm laid it on particularly thick - too bad there isn't a law against obvious "scaremongering" Hopefully bad karma will follow them ..