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UK Pensions never transfered...and Aus Super

UK Pensions never transfered...and Aus Super

Old May 17th 2007, 4:51 pm
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Default UK Pensions never transfered...and Aus Super

I never transferred some of my UK pension and now have Aus super funds.

I know I know complete mess, I have been in Aus five years, can someone give me advice about

(a) what I do now with UK stuff if I am stuck here - that is stay in aus now

(b) moving back to the UK for a while, what to do with UK salary and pension for new job and if I can do anything with old UK stuff....sort of hoping I can lump it all in together and bring it out later if I have to come back

(c) moving back to UK for good and what to do with Aus funds - I now have managed to get two of them!

I will in the goodness of time employ a pensions advisor and pay him loads of dosh for some personal advice so I really only want an indication of what my options might be.

Cheers
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Old May 17th 2007, 10:24 pm
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Default Re: UK Pensions never transfered...and Aus Super

Hi Sandra,

If you are leaving Oz for good then you can claim back your super contributions though you do get stung for tax (most claims are subject to another 30% witholding tax.)

You can apply online for a DASP (Departing Australia Superannuation Payment) - www.ato.gov.au/super

Emma
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Old May 17th 2007, 11:11 pm
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Default Re: UK Pensions never transfered...and Aus Super

Originally Posted by emmahafryn
Hi Sandra,

If you are leaving Oz for good then you can claim back your super contributions though you do get stung for tax (most claims are subject to another 30% witholding tax.)

You can apply online for a DASP (Departing Australia Superannuation Payment) - www.ato.gov.au/super

Emma

Hi thanks for the response, but this is only for temporary residents, eg working holiday visa type people and 457 etc. I am PR, well a citizen now!

Just wondered what the other returnee have organised.

Cheers
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Old May 19th 2007, 5:02 pm
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Default Re: UK Pensions never transfered...and Aus Super

Originally Posted by Sandra
Hi thanks for the response, but this is only for temporary residents, eg working holiday visa type people and 457 etc. I am PR, well a citizen now!

Just wondered what the other returnee have organised.

Cheers
OH was told by our super company that if he cashed in his super here for the reason he was never coming back that he had to revoke his citizenship. Sounds drastic but I guess you are just putting your money where your mouth is!
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Old May 22nd 2007, 5:25 pm
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Default Re: UK Pensions never transfered...and Aus Super

Originally Posted by alicecat
OH was told by our super company that if he cashed in his super here for the reason he was never coming back that he had to revoke his citizenship. Sounds drastic but I guess you are just putting your money where your mouth is!
Hi

My OH cashed his pension in when we left Oz earlier this year. We are now heading back at the end of this year and I have been in touch with his super company in Oz - apparently it is no probs if we go back and starts earning again. We left in good faith that we were going for good, that it hasn't works out doesn't mean that they will hold it against us.

Hopes that makes sense,

Becky
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Old May 22nd 2007, 11:58 pm
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Default Re: UK Pensions never transfered...and Aus Super

Originally Posted by Bex66
Hi

My OH cashed his pension in when we left Oz earlier this year. We are now heading back at the end of this year and I have been in touch with his super company in Oz - apparently it is no probs if we go back and starts earning again. We left in good faith that we were going for good, that it hasn't works out doesn't mean that they will hold it against us.

Hopes that makes sense,

Becky
Thanks for the responses - I know I am getting financial advice but it is always nice to hear of the real stories - and issues if any.

Cheers
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Old May 23rd 2007, 1:42 am
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Default Re: UK Pensions never transfered...and Aus Super

Originally Posted by Bex66
Hi

My OH cashed his pension in when we left Oz earlier this year. We are now heading back at the end of this year and I have been in touch with his super company in Oz - apparently it is no probs if we go back and starts earning again. We left in good faith that we were going for good, that it hasn't works out doesn't mean that they will hold it against us.

Hopes that makes sense,

Becky
Did he have to revoke his citizenship? Sounds like he didn't if he is coming back. Is that right? Or is he Australian born?
I also cashed in my super when I left for the UK in the 90s and there was no problem with restarting it when I came back three years ago but I wasn't asked to revoke my citizenship because I am Australian born.
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Old May 23rd 2007, 2:01 am
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Default Re: UK Pensions never transfered...and Aus Super

Originally Posted by alicecat
Did he have to revoke his citizenship? Sounds like he didn't if he is coming back. Is that right? Or is he Australian born?
I also cashed in my super when I left for the UK in the 90s and there was no problem with restarting it when I came back three years ago but I wasn't asked to revoke my citizenship because I am Australian born.
We too cashed in our super in the 80's as that was permitted under the rules back then. The rules now state that unless you are on a temp visa you cannot under any circumstances have access to your super until you retire. This is the first I have heard of revoking citizenship.

HTH
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Old May 23rd 2007, 6:53 am
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Default Re: UK Pensions never transfered...and Aus Super

Originally Posted by alicecat
Did he have to revoke his citizenship? Sounds like he didn't if he is coming back. Is that right? Or is he Australian born?
I also cashed in my super when I left for the UK in the 90s and there was no problem with restarting it when I came back three years ago but I wasn't asked to revoke my citizenship because I am Australian born.
Hi

No, he didn't have to revoke anything. We are both British born, only been in Oz for 8 years and citizens for the last two.

Becky
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