Originally Posted by Mandy&Cliff (Post 5274770)

Hi.
Your NHS pension is not static, it does grow but not at the same rate as if you were making contributions. Mine has grown by a 25% since I`ve been in oz. Am currently in the process of bringing over into a QROPS recognized super fund. (Not using a company as they charge approx 3% of the transfer value to complete this relatively simple excercise. Big bonus is that you do not on retirement have to purchase an anunity like you do in the UK. You can access the entire amount (lump sum) tax free!!! Think of the compounding growth when you move sterling amount into $AUD fund!!!! Cheers Mandy.

Originally Posted by JAJ (Post 5279215)

NHS pensions do not involve compulsory annuity purchase as far as I know. It's based on years of service and salary.

Moving pension to Australia may not seem such a good idea for those who end up returning to the U.K. or moving on to another country.

Originally Posted by Mandy&Cliff (Post 5282622)

Couldn`t resist another "positive" about bringing Pensions over to Oz, given the fact that you would be able to access the entire amount....Should you pop your clogs... your estate gets the whole amount..........Not reduced widower/widow pensions deemed as appropriate by the fund providers.... or swallowed back into the never ending void of the state should you both snuff it...

Originally Posted by JAJ (Post 5283265)

This may be misleading advice when applied to employer funded schemes.

Many people on forums like this have an almost ideological passion for either transferring or not. Whereas in fact, there are positives and negatives in all cases.

I would be cautious before transferring an NHS pension. Just be conscious of what you are giving up and the fact that you can't undo the transfer later on if you decide to return.

Originally Posted by Mandy&Cliff (Post 5274770)

Hi.
Your NHS pension is not static, it does grow but not at the same rate as if you were making contributions. Mine has grown by a 25% since I`ve been in oz. Am currently in the process of bringing over into a QROPS recognized super fund. (Not using a company as they charge approx 3% of the transfer value to complete this relatively simple excercise. Big bonus is that you do not on retirement have to purchase an anunity like you do in the UK. You can access the entire amount (lump sum) tax free!!! Think of the compounding growth when you move sterling amount into $AUD fund!!!! Cheers Mandy.

Originally Posted by bundybell (Post 5295529)

Dont you have to move your pension within 6 months if not you get taxed on it.Thats what ive been told anyway
Teryna