Who have you used to bring over uk pension?
 

Hi. A newbie here wondering about other experiences of using firms here in Aus to bring over your. uk pension monies, and any advice or recommendations which firms/planners to use (or who not to use!)

many thanks

Re: Who have you used to bring over uk pension?
 

Hi Grommit

I can't really advise you as I've kept mine in the UK but there is a pension adviser on here somewhere, I think he's called John, he normally answers posts such as yours pretty quick, maybe he's away.
I'm sure someone will help you soon. :)

Re: Who have you used to bring over uk pension?
 

Yes i am here still :-) My sponsored forum - details in the signature section of this post - has a bit of information on UK Pension transfers. I hope that helps

Cheers

Re: Who have you used to bring over uk pension?
 

We used Geoff Haverstein of lifetrack.com.au, he arranged everything and transferred UK pension to an AMP fund. Very helpful. He is based in Sydney, on the Northern Beaches.

Re: Who have you used to bring over uk pension?
 

I didn't use anybody. I filled in the transfer forms myself and sent them in. Simple. saved myself the fees/commission. Maybe you should consider doing that too.

N

Re: Who have you used to bring over uk pension?
 

Out of curiosity is it beneficial bringing your pension over? Are there problems with leaving it in the UK?

Re: Who have you used to bring over uk pension?
 

Everyone's situation is different and there are many factors to consider. Some of the pros are that you can access your funds currently 100% as at pension time, earnings etc are tax free as a pension and there is no death taxes on pensions in OZ (currently 55%) in the uk).

Things are changing in the Uk with proposed changes for April 2015 occurring. These will be finally before Parliament in Dec 2014.

Detailed FACT sheets on all of this can be found in my sponsored forum on here:

UK Pension Transfers, Home Loans and Financial Advice - British Expats

Cheers

Re: Who have you used to bring over uk pension?
 

Was your pension in education?
Can I ask where you get the forms from?
I'd be really grateful for any info.
Thanks
J x

Re: Who have you used to bring over uk pension?
 

Transfer forms?

Left my pension in the UK for the last 4 & a half years, now starting to think I won't be going back so I should really look into getting it over there, into my not so super, super fund.... :eek:

Re: Who have you used to bring over uk pension?
 

If you wish to do it yourself the forms are obtained from your UK Pension provider. If you are uncertain at all on the process, doing the tax on it or wishing to enhance your retirement savings through better exchange rates then use a professional especially with larger balances.

More info helpful can be found within my sponsored forum - UK Pension Transfers, Home Loans and Financial Advice - British Expats

Re: Who have you used to bring over uk pension?
 

Hi

As 'John in Oz' mentioned, I got the forms sent to me by the UK pension provider. As far as I can recall (as this happened nine years ago) when I got the forms I filled in the bits that felt comfortable to do so, then took them to the superannuation department of my employer and filled in the remainder with the people in their department.

The forms were designed with transfers from one UK pension provider to another. By that I mean it asked for certain British code numbers that meant nothing in Australia. So I just wrote 'N/A due to transfer of funds to Australian provider as I've migrated' etc... The UK pension provider didn't bat an eyelid. Money was transferred quickly and without error.

Neil

Re: Who have you used to bring over uk pension?
 

I'm pretty sure I got my forms from my Aussie super company, filled them in and sent them back to my Aussie super co who did the rest.

Re: Who have you used to bring over uk pension?
 

The main issue for those doing it themselves is reporting the tax payable on the transfers - unfortunately some simply fail to report any tax payable and when later audited they then have to pay the tax personally out of their own pocket which can be many $$$$.

Just something to be aware of when doing it yourself is to report any earnings on the UK Funds. :-)

Re: Who have you used to bring over uk pension?
 

I don't like paying tax. Is it just better to leave it in the UK until retired?

Re: Who have you used to bring over uk pension?
 

For the answer to your question read this....

https://www.russell.com/au/assets/pd...FACT_QROPS.pdf

N