Did anyone manage to get their Super out when they left Oz??
#16
Re: Did anyone manage to get their Super out when they left Oz??
i have heard and it is only heresay that non australian citizens can do it . My ex wife who is duel national and is in the uk now could not get hers due to her australian nationality .
But i do have a scottish friend here who is not an australian citizen and got access to most of his when claiming hardship and is still living here . The rules seem complicated to me .
But i do have a scottish friend here who is not an australian citizen and got access to most of his when claiming hardship and is still living here . The rules seem complicated to me .
#17
Re: Did anyone manage to get their Super out when they left Oz??
Don't move your pension until you are absolutely sure you are staying for good (and even then, how can you really know ). Sometimes you cannot move it again, and sometimes you lose thousands by shifting it once, let alone twice.
There's no rush folks, especially in this market where nothing is earning anything much anywhere!
Edit - not having a go at you OP - just highlighting (again!) the subject to anyone who will listen!
#18
Re: Did anyone manage to get their Super out when they left Oz??
I repeat this advice ad nauseum on some threads. It's very important.
Don't move your pension until you are absolutely sure you are staying for good (and even then, how can you really know ). Sometimes you cannot move it again, and sometimes you lose thousands by shifting it once, let alone twice.
There's no rush folks, especially in this market where nothing is earning anything much anywhere!
Edit - not having a go at you OP - just highlighting (again!) the subject to anyone who will listen!
Don't move your pension until you are absolutely sure you are staying for good (and even then, how can you really know ). Sometimes you cannot move it again, and sometimes you lose thousands by shifting it once, let alone twice.
There's no rush folks, especially in this market where nothing is earning anything much anywhere!
Edit - not having a go at you OP - just highlighting (again!) the subject to anyone who will listen!
#19
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Joined: Jul 2008
Location: My happy place
Posts: 3,043
Re: Did anyone manage to get their Super out when they left Oz??
Now this took some finding but I remember ages ago we were talking about 'that ad' on UKTV. Some wag wrote this.
"If you've moved to Australia like me (suckers) you can now transfer (lock away forever) your (hard earned) UK pension to Australia and take benefit at retirement completely tax free (well except the two lots of tax you've already paid on it) (some shonky company) make it easy, they took of everything (including their outrageous commission), and I got a free (useless bit of paper showing how I can only afford to live til 68) transfer report."
"There are still some things I'm getting used to in Oz (like the boredom, the rednecks, the lack of culture, the expense and the morons) but at least I know my UK pensions are (completely f**ked) sorted."
Twat
"If you've moved to Australia like me (suckers) you can now transfer (lock away forever) your (hard earned) UK pension to Australia and take benefit at retirement completely tax free (well except the two lots of tax you've already paid on it) (some shonky company) make it easy, they took of everything (including their outrageous commission), and I got a free (useless bit of paper showing how I can only afford to live til 68) transfer report."
"There are still some things I'm getting used to in Oz (like the boredom, the rednecks, the lack of culture, the expense and the morons) but at least I know my UK pensions are (completely f**ked) sorted."
Twat
#20
Re: Did anyone manage to get their Super out when they left Oz??
I repeat this advice ad nauseum on some threads. It's very important.
Don't move your pension until you are absolutely sure you are staying for good (and even then, how can you really know ). Sometimes you cannot move it again, and sometimes you lose thousands by shifting it once, let alone twice.
There's no rush folks, especially in this market where nothing is earning anything much anywhere!
Edit - not having a go at you OP - just highlighting (again!) the subject to anyone who will listen!
Don't move your pension until you are absolutely sure you are staying for good (and even then, how can you really know ). Sometimes you cannot move it again, and sometimes you lose thousands by shifting it once, let alone twice.
There's no rush folks, especially in this market where nothing is earning anything much anywhere!
Edit - not having a go at you OP - just highlighting (again!) the subject to anyone who will listen!
It never crossed our minds that we wouldn't be able to transfer it back and it was never mentioned to us either during the whole process. It's our own fault though not for researching it properly at the time, But hey, that's life and it's only money LOL. It won't be the end of the world if we can't, as it will just sit in Australia until we retire (if the fees don't take it all ) but I would have preferred it if we could have.
#21
Re: Did anyone manage to get their Super out when they left Oz??
Now this took some finding but I remember ages ago we were talking about 'that ad' on UKTV. Some wag wrote this.
"If you've moved to Australia like me (suckers) you can now transfer (lock away forever) your (hard earned) UK pension to Australia and take benefit at retirement completely tax free (well except the two lots of tax you've already paid on it) (some shonky company) make it easy, they took of everything (including their outrageous commission), and I got a free (useless bit of paper showing how I can only afford to live til 68) transfer report."
"There are still some things I'm getting used to in Oz (like the boredom, the rednecks, the lack of culture, the expense and the morons) but at least I know my UK pensions are (completely f**ked) sorted."
Twat
"If you've moved to Australia like me (suckers) you can now transfer (lock away forever) your (hard earned) UK pension to Australia and take benefit at retirement completely tax free (well except the two lots of tax you've already paid on it) (some shonky company) make it easy, they took of everything (including their outrageous commission), and I got a free (useless bit of paper showing how I can only afford to live til 68) transfer report."
"There are still some things I'm getting used to in Oz (like the boredom, the rednecks, the lack of culture, the expense and the morons) but at least I know my UK pensions are (completely f**ked) sorted."
Twat
Last edited by stm1971; Aug 25th 2009 at 3:36 pm.
#22
BE Forum Addict
Joined: May 2007
Location: England
Posts: 4,235
Re: Did anyone manage to get their Super out when they left Oz??
Now this took some finding but I remember ages ago we were talking about 'that ad' on UKTV. Some wag wrote this.
"If you've moved to Australia like me (suckers) you can now transfer (lock away forever) your (hard earned) UK pension to Australia and take benefit at retirement completely tax free (well except the two lots of tax you've already paid on it) (some shonky company) make it easy, they took of everything (including their outrageous commission), and I got a free (useless bit of paper showing how I can only afford to live til 68) transfer report."
"There are still some things I'm getting used to in Oz (like the boredom, the rednecks, the lack of culture, the expense and the morons) but at least I know my UK pensions are (completely f**ked) sorted."
Twat
"If you've moved to Australia like me (suckers) you can now transfer (lock away forever) your (hard earned) UK pension to Australia and take benefit at retirement completely tax free (well except the two lots of tax you've already paid on it) (some shonky company) make it easy, they took of everything (including their outrageous commission), and I got a free (useless bit of paper showing how I can only afford to live til 68) transfer report."
"There are still some things I'm getting used to in Oz (like the boredom, the rednecks, the lack of culture, the expense and the morons) but at least I know my UK pensions are (completely f**ked) sorted."
Twat
#23
Account Closed
Joined: Sep 2006
Posts: 4,374
Re: Did anyone manage to get their Super out when they left Oz??
I totally agree AnnM, unfortunately when we moved it back in 2002 we did think we were going to be here forever. I hope it is a warning to others to think very carefully about whether it is the right thing to do as circumstances can always change.
It never crossed our minds that we wouldn't be able to transfer it back and it was never mentioned to us either during the whole process. It's our own fault though not for researching it properly at the time, But hey, that's life and it's only money LOL. It won't be the end of the world if we can't, as it will just sit in Australia until we retire (if the fees don't take it all ) but I would have preferred it if we could have.
It never crossed our minds that we wouldn't be able to transfer it back and it was never mentioned to us either during the whole process. It's our own fault though not for researching it properly at the time, But hey, that's life and it's only money LOL. It won't be the end of the world if we can't, as it will just sit in Australia until we retire (if the fees don't take it all ) but I would have preferred it if we could have.
in this whole ******* immigration thing it is the only sensible thing i done (coz i actually read and took on board moderator's jaj's information, and at this time i was at the 'everything will be great in oz and people who post in the mbttuk are just saddos), so i left my 20 years paid up superann in the uk
We are , of course, paying it here, but things could've been alot worse.
#24
Re: Did anyone manage to get their Super out when they left Oz??
We were advised it can be transferred or cashed out after 5 years provided we are leaving the country (Oz).
We however are on temporary visa's
The funds we transferred over took bloody ages due to UK end. But turned out good in the end as the fund we chose dropped 19% due to the GFC just before we bought units and this week it appears to have rebounded 23%
We however are on temporary visa's
The funds we transferred over took bloody ages due to UK end. But turned out good in the end as the fund we chose dropped 19% due to the GFC just before we bought units and this week it appears to have rebounded 23%
#25
Just Joined
Joined: Sep 2009
Posts: 1
Re: Did anyone manage to get their Super out when they left Oz??
I'm new to this thread and very interested as my Qsuper pension matures in a month. From what I've seen here it has to stay in Oz. If it does then does anyone know how can I access it from the UK?
#26
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Joined: Jul 2007
Location: Brisbane
Posts: 2,949
Re: Did anyone manage to get their Super out when they left Oz??
You super has to remain in Oz unless you are in Australia on a temporary visa and then subsequently leave. When you meet a condition of release you can withdraw your super regardless of where in the world you are. So if you move back to the UK when you meet a condition of release you can contact your super company and arrange a withdrawal just as you would have should you have been in Australia.
#27
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Joined: Mar 2009
Posts: 1,289
Re: Did anyone manage to get their Super out when they left Oz??
What you do with the cash is up to you. And the "pension" can be paid into an Australian bank account (and you then transfer it into your UK bank account any way you like). Or, some super funds administrators are happy to transfer the money straight into a UK bank account.
#28
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Joined: Mar 2009
Posts: 1,289
Re: Did anyone manage to get their Super out when they left Oz??
Somebody asked what an "eligible temporary visa holder" is and the above is it: Had a temp visa, left, and had visa cancelled.
In other words, if you were granted a four-year 457 visa, and you leave after two years (i.e. the visa has another two years to run) - you are not eligible to apply for the super payment until you have had your visa cancelled. You don't need to wait until the four years are up, but you do need to contact DIAC first to get the visa cancelled, then apply for the super payment.
If you are in Oz on a permanent visa and leave, you cannot legally get your super payment unless you get DIAC to cancel your visa, or you can prove "hardship" (per ATO definition), or you can claim to be "terminally ill" (again as per ATO definition).
If you became an Oz citizen and leave, you can only get at your super legally if you can prove "hardship" (per ATO definition), or you can claim to be "terminally ill" (again as per ATO definition). [The same rule applies to citizens in Australia.]
If you go back to the UK and your super stays in Oz, you can access it when you reach "preservation age". [Same as any Oz citizen.]
For those born before 1/7/1960 that is age 55. "Preservation age" then goes up in one-year increments until you get to those born after 1/7/1964 for whom it is age 60.
Hope this helps.
Edited to say: There are certain scenarios/circumstances where a person can access an income stream (i.e. regular "pension payments") from their super before reaching preservation age. I haven't covered that. The above is intended to give a brief summary on how to access a "lump sum" payment - which is generally what those leaving Australia want.
Last edited by ozhappy981; Sep 30th 2009 at 1:29 pm.
#29
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Joined: Jul 2007
Location: Brisbane
Posts: 2,949
Re: Did anyone manage to get their Super out when they left Oz??
For terminal illnesses you can contact your Super fund directly and they'll sort it out for you once you've provided medical evidence.
If you wish to withdraw under Compassionate Grounds which can include Mortgage Assistance, Payment for Medical Treatments, Funeral Costs ... you need to contact APRA - Australian Prudential Regulation Authority, they govern withdrawals from Superannuation and are a government body.
#30
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Joined: Mar 2009
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Re: Did anyone manage to get their Super out when they left Oz??