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Transfer of Oz superannuation/pension to UK

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Transfer of Oz superannuation/pension to UK

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Old Apr 10th 2006 | 1:27 am
  #1  
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Default Transfer of Oz superannuation/pension to UK

Hi,

I have managed to get a new job in Australia and am looking at my Australian super options should I return to the UK at some point in the future. I know there can be hefty fees and taxation transferring UK pension to Oz and am wondering whether it's similar vice versa? If so, is there a way around it? As I may be contributing to the fund as well I don't want to find out later on that most of my own contributions are gobbled up by tax and fees if I do transfer it to the UK.

1) Are there any specific Australian Funds that are 'transfer-friendly'?
2) What typical costs are involved in a pension transfer Oz-->UK?
3) Does anyone have experience of transferring theire pension back to the UK?

Any advice appreciated!

Erwin
 
Old Apr 10th 2006 | 2:07 am
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Default Re: Transfer of Oz superannuation/pension to UK

Originally Posted by G'day_Australia!
Hi,

I have managed to get a new job in Australia and am looking at my Australian super options should I return to the UK at some point in the future. I know there can be hefty fees and taxation transferring UK pension to Oz and am wondering whether it's similar vice versa? If so, is there a way around it? As I may be contributing to the fund as well I don't want to find out later on that most of my own contributions are gobbled up by tax and fees if I do transfer it to the UK.

1) Are there any specific Australian Funds that are 'transfer-friendly'?
2) What typical costs are involved in a pension transfer Oz-->UK?
3) Does anyone have experience of transferring theire pension back to the UK?

Any advice appreciated!

Erwin
My OH and i are returning back to the uk and cant transfer super because we are australian citizens ,something worth thinking about if you entitled to take out citizenship at any time
 
Old Apr 10th 2006 | 2:10 am
  #3  
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Default Re: Transfer of Oz superannuation/pension to UK

From the information I was given you cannot move an Aussie Super to the UK if you are a permanent resident.

http://britishexpats.com/forum/showt...3&page=3&pp=15
 
Old Apr 10th 2006 | 2:14 am
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Default Re: Transfer of Oz superannuation/pension to UK

Originally Posted by marco121068
From the information I was given you cannot move an Aussie Super to the UK if you are a permanent resident.

http://britishexpats.com/forum/showt...3&page=3&pp=15
Not sure on that one i think permanent residents have an easier run if they want to release their funds under a bull story they are returning to their native country .a good friend of mine managed to cash all his in and he is only 37 he is not a citizen of australia
 
Old Apr 11th 2006 | 10:11 pm
  #5  
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Default Re: Transfer of Oz superannuation/pension to UK

Originally Posted by sassenach
My OH and i are returning back to the uk and cant transfer super because we are australian citizens ,something worth thinking about if you entitled to take out citizenship at any time
seems ridiculous especially if you have lived here for a while and contrbuted towards your super as well!
 

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