What About The Super?
Jan 24th 2006, 1:07 am
#1
Forum Regular
Thread Starter
Joined: Aug 2003
Location: Bournemouth > Bribie Island, Queensland>Brisbane
Posts: 234
What About The Super?
We are hoping to return to the UK in Aug this year. However, we have built up approx $18K in super schemes between us. Can we take this now/transfe to a UK scheme as we are not going to be resident in Aus or does it have to stay put until we are retirement age? Has anyone moved their super back to the UK?
I know it's not much in the scheme of things but I would hate for it to get swallowed up in maintenance fees over here when I could roll it into my next employers scheme over there.
I know it's not much in the scheme of things but I would hate for it to get swallowed up in maintenance fees over here when I could roll it into my next employers scheme over there.
Jan 24th 2006, 5:32 am
#2
BE Enthusiast
Joined: Apr 2005
Location: Melbourne
Posts: 629
Re: What About The Super?
Originally Posted by Amanda&Paul
We are hoping to return to the UK in Aug this year. However, we have built up approx $18K in super schemes between us. Can we take this now/transfe to a UK scheme as we are not going to be resident in Aus or does it have to stay put until we are retirement age? Has anyone moved their super back to the UK?
I know it's not much in the scheme of things but I would hate for it to get swallowed up in maintenance fees over here when I could roll it into my next employers scheme over there.
I know it's not much in the scheme of things but I would hate for it to get swallowed up in maintenance fees over here when I could roll it into my next employers scheme over there.
HTH
Jan 24th 2006, 5:56 am
#3
Retired
Joined: Apr 2004
Posts: 34,649
Re: What About The Super?
Originally Posted by Amanda&Paul
We are hoping to return to the UK in Aug this year. However, we have built up approx $18K in super schemes between us. Can we take this now/transfe to a UK scheme as we are not going to be resident in Aus or does it have to stay put until we are retirement age? Has anyone moved their super back to the UK?
What's your visa/citizenship status in Australia?
Jeremy
Jan 24th 2006, 6:21 am
#4
Live the moment
Joined: Dec 2003
Location: In between nappies and feeds
Posts: 2,026
Re: What About The Super?
We have left ours in Oz.....!!! 
Jan 24th 2006, 8:21 am
#5
Forum Regular
Thread Starter
Joined: Aug 2003
Location: Bournemouth > Bribie Island, Queensland>Brisbane
Posts: 234
Re: What About The Super?
Originally Posted by JAJ
What's your visa/citizenship status in Australia?
Jeremy
Jeremy
Jan 24th 2006, 11:21 am
#6
Retired
Joined: Apr 2004
Posts: 34,649
Re: What About The Super?
Originally Posted by Amanda&Paul
We are permanent residents but intend to go for citizenship before we go as we do harbour some dreams in the future of returning. We have a house here that we intend on keeping.
If you have permanent visas then as far as I know you can't "cash in" your superannuation the way many temporary residents can.
Jeremy
Jan 24th 2006, 8:27 pm
#7
BE Enthusiast
Joined: Apr 2005
Location: Melbourne
Posts: 629
Re: What About The Super?
[QUOTE=JAJ]If you have permanent visas then as far as I know you can't "cash in" your superannuation the way many temporary residents can.
We were (and still are) Australian citizens at the time we got our money out of super but as I say they could have changed the rules.
We were (and still are) Australian citizens at the time we got our money out of super but as I say they could have changed the rules.
Jan 24th 2006, 9:18 pm
#8
home again, home again
Joined: Apr 2003
Location: Notts to Perth, Perth to Notts
Posts: 1,748
Re: What About The Super?
I recently wrote to the people who provided my super..this is what they wrote....
'As an Australian resident, you are not entitled to have your superannuation
benefit paid out to you until our normal retirement age (currently 55 and
no longer working), regardless of whether you are no longer residing in
Australia. Superannuation laws only allow overseas departure payments to
be made to temporary Australian residents who have held an eligible
temporary Australian Resident Visa covered under the Superannuation
Industry Supervisions Act. The reason for this is because you still have
the option to return to Australia at any time and accrue further
superannuation'.
My hubby can claim his back if he sends a copy of his visa (5 year PR visa), he didnt get citizenship.
I can have mine sent to me though in the form of a cheque because I have less than $200 !!!!!!!!!!!!!!
Hope this helps
'As an Australian resident, you are not entitled to have your superannuation
benefit paid out to you until our normal retirement age (currently 55 and
no longer working), regardless of whether you are no longer residing in
Australia. Superannuation laws only allow overseas departure payments to
be made to temporary Australian residents who have held an eligible
temporary Australian Resident Visa covered under the Superannuation
Industry Supervisions Act. The reason for this is because you still have
the option to return to Australia at any time and accrue further
superannuation'.
My hubby can claim his back if he sends a copy of his visa (5 year PR visa), he didnt get citizenship.
I can have mine sent to me though in the form of a cheque because I have less than $200 !!!!!!!!!!!!!!
Hope this helps
Jan 25th 2006, 3:00 am
#9
Retired
Joined: Apr 2004
Posts: 34,649
Re: What About The Super?
Originally Posted by janeyray
I recently wrote to the people who provided my super..this is what they wrote....
'As an Australian resident, you are not entitled to have your superannuation
benefit paid out to you until our normal retirement age (currently 55 and
no longer working), regardless of whether you are no longer residing in
Australia. Superannuation laws only allow overseas departure payments to
be made to temporary Australian residents who have held an eligible
temporary Australian Resident Visa covered under the Superannuation
Industry Supervisions Act. The reason for this is because you still have
the option to return to Australia at any time and accrue further
superannuation'.
My hubby can claim his back if he sends a copy of his visa (5 year PR visa), he didnt get citizenship.
'As an Australian resident, you are not entitled to have your superannuation
benefit paid out to you until our normal retirement age (currently 55 and
no longer working), regardless of whether you are no longer residing in
Australia. Superannuation laws only allow overseas departure payments to
be made to temporary Australian residents who have held an eligible
temporary Australian Resident Visa covered under the Superannuation
Industry Supervisions Act. The reason for this is because you still have
the option to return to Australia at any time and accrue further
superannuation'.
My hubby can claim his back if he sends a copy of his visa (5 year PR visa), he didnt get citizenship.
Jeremy
Jan 25th 2006, 11:10 am
#10
Forum Regular
Thread Starter
Joined: Aug 2003
Location: Bournemouth > Bribie Island, Queensland>Brisbane
Posts: 234
Re: What About The Super?
Thanks guys - I will just have to keep my eyes on the fees and charges. My friends here have said that they can build up if you stop paying into your super scheme. It's not much I guess.
Jan 25th 2006, 3:48 pm
#11
Senior member
Joined: Sep 2002
Location: Paris
Posts: 835
Re: What About The Super?
Originally Posted by Amanda&Paul
Thanks guys - I will just have to keep my eyes on the fees and charges. My friends here have said that they can build up if you stop paying into your super scheme. It's not much I guess.
