Pensions
#1
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Joined: Mar 2020
Posts: 1
Pensions
Where to even start?
Considering a move to Oz, not sure if it will be permanent or not.
Wife and I have currently good work pensions, contribute to a stakeholder pension and obviously eventually the state pension.
Who do we talk to about what to do with our pensions?
Do we just leave them and claim them when we retire?
Do we (can we) transfer them across?
Any advice greatly appreciated.
Considering a move to Oz, not sure if it will be permanent or not.
Wife and I have currently good work pensions, contribute to a stakeholder pension and obviously eventually the state pension.
Who do we talk to about what to do with our pensions?
Do we just leave them and claim them when we retire?
Do we (can we) transfer them across?
Any advice greatly appreciated.
#3
Re: Pensions
For private pensions you cannot transfer them until you are 55, and even then there are currently few options. You can leave them in the UK and they will be frozen until you can claim them, the income will be taxed in Aus. The Gov pension will be paid out when you reach the right age but will be frozen at that rate, no increases and again taxable.
So nothing you can do anyway yet, good to look at all consequences of migrating. As mentioned though all moot if you don’t have a visa!
So nothing you can do anyway yet, good to look at all consequences of migrating. As mentioned though all moot if you don’t have a visa!