Superannuation
Oct 23rd 2006, 3:15 pm
#1
Forum Regular
Thread Starter
Joined: Jun 2004
Location: West Sussex
Posts: 141
Superannuation
Hi all,
Anyone know what the deal is with superannuation accrued in Oz when relocating back to the UK?
We have dual citizenship - is withdrawing the full amount or transferring to a UK fund an option? If not and it has to stay put when can we get it and what if we are still in the UK at that time? Also, is there any danger of the fees it takes to keep it in a Oz fund exceeding what is there (we only have around 4 years worth of contributions) - in this case could we end up owing the fund money?!
Any advice on this appreciated, thanks
Anyone know what the deal is with superannuation accrued in Oz when relocating back to the UK?
We have dual citizenship - is withdrawing the full amount or transferring to a UK fund an option? If not and it has to stay put when can we get it and what if we are still in the UK at that time? Also, is there any danger of the fees it takes to keep it in a Oz fund exceeding what is there (we only have around 4 years worth of contributions) - in this case could we end up owing the fund money?!
Any advice on this appreciated, thanks
Oct 24th 2006, 1:11 am
#2
Account Closed
Joined: Nov 2003
Posts: 1,384
Re: Superannuation
Im no expert on this whatsoever and am only passing on what i was told by sunsuper yesterday so please correct me anyone if its wrong.....
I was told as i was a permanent resident it wasnt possible to withdraw funds, if i was a tempory resident it would be. It is possible to transfer the fund to a uk pension but on the condition that that fund will accept ausie transfers. I was advised to return home and get transfer forms from uk fund and submit them to see if its accepted.
I was told as i was a permanent resident it wasnt possible to withdraw funds, if i was a tempory resident it would be. It is possible to transfer the fund to a uk pension but on the condition that that fund will accept ausie transfers. I was advised to return home and get transfer forms from uk fund and submit them to see if its accepted.
