richie-318

Ok if we are lucky enough to pass the paper sift, can anyone tell us examples of the PEE content. I know they have samples on the website, but am looking for a bit more to be fully prepared.

Anyone know what the pass mark is in the tests?

Also how do pensions work in Oz am hearing you build up a pot , but onc it's gone that's it no more.

I was hoping would be same as UK pay into it, retire get pay out each month for as long as you live?

geordiebloke

Pensions here are called Super funds. WAPol employees are mostly with GESB.

Basically, WAPol pay an additional 9% of your pay (likely to be rising to 12% over the next few years) into your super fund, which is invested and over time (hopefully) grows.

You can make additional payments, which can have tax benefits depending on your age .

Whatever is in the fund when you reach 60, is yours to do with what you like.

That is the basics, there are other ways you can use your Super fund, including self managed funds, but obviously you need expert advise before you consider that.

It's not as "safe and secure" as the old UK police pension, but I think in the right circumstances and if managed well, could be more lucrative in the long term.

Other benefits are that once you have the money in your fund, it's yours (not withstanding tax changes) So, if anything happens to you, it is part of your estate and gets passed onto your next of kin.

Unlike in the UK, where your other half would only get 50% of the pension value.

Pincher

With regards to the UK police pension (and setting aside the usual caveats of seeking independent financial advice and one size doesn't fit all) what consideration have people given towards it? I just wondered what the general consensus was; to leave it be or take it.
I haven't looked into it too much, but am hoping for some food for thought.

jonnyfurious

I know very little about the subject but from what I've heard (not sure if it's correct) you can transfer your UK pension over but you cannot then transfer it back. So based on this I'm not rushing to do anything until I know I'm staying in Aus for good. Even then I may leave it where it is but I'll get advice on that nearer the time.