tarset

For transferring my pension from a UK to an Australian super fund I have been quoted a charge of 4% of the value of my UK fund, which would equate to approximately $13,000. Does anyone know of a company employing a fee based structure, which I hope would be more economical.

Kiwipaul

I had 2 superannuation funds here and I decided to consolidate them. I would have prefered to transfer my Tower fund to BT but on checking costs BT would have slugged me 4% of the value transferred and Tower would have also charged an exit fee!!!. But transferring into Tower their was no charge and no exit fee from BT.
I now have one fund Tower.

dracupg

Are you getting a financial adviser to transfer the pension? If so, why not do it yourself? It is pretty straightforward to contact your UK Pension fund arrange it, and you shouldn’t pay any addition fees, other than whatever exit penalties the UK Pension fund has, which you would have to pay anyway.

We are taking the opportunity to transfer all of our UK pension funds over here and consolidate them in a single Super fund. The upturn in the market more than make up for the strong Ozzy Dollar.