UK Pension Transfer
Jan 11th 2008, 3:21 am
#31
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: UK Pension Transfer
I just moved my 2 over from the UK after being here about 5 years, both we're personal pensions one with Standard Life one with Scottish Equittable.
I rang each of them to get an idea of value, then rang my super fund here, the fund I had was my company fund and wasnt QROPS compliant, so I opened one with them that was. I then filled out a couple of quick authority forms to enable them to deal with the UK pension companies, then they went off and did the contacting etc and both funds are now transferred and in my fund over here, the whole thing was completely painless probably took me an hour or two at most in gathering the info and calling the UK and opening the new fund. The total time from starting this all off to them being transfered over probably took around 8weeks.
I seriously would not waste money to pay someone to do this for you.
I rang each of them to get an idea of value, then rang my super fund here, the fund I had was my company fund and wasnt QROPS compliant, so I opened one with them that was. I then filled out a couple of quick authority forms to enable them to deal with the UK pension companies, then they went off and did the contacting etc and both funds are now transferred and in my fund over here, the whole thing was completely painless probably took me an hour or two at most in gathering the info and calling the UK and opening the new fund. The total time from starting this all off to them being transfered over probably took around 8weeks.
I seriously would not waste money to pay someone to do this for you.
Best regards.
Jan 11th 2008, 9:05 am
#32
Forum Regular
Joined: Nov 2007
Location: South Staffs UK & Gulf Coast Florida
Posts: 137
Re: UK Pension Transfer
Alan is right. It is not so much the transfer process - you can do it yourself if you are patient - its more the investment monitoring. Getting the right advice on funds and regular (yes I said regular!) reviews should see your fund boosted (not only that, the extra growth will almost certainly cover your planners fees).
