Lump sum and pensions
 

Just wondering if anyone can advise. On leaving teaching employment in the UK you receive a lump sum linked to your final salary. How is this affected when you move to Aus? Do they have a similar process?

Re: Lump sum and pensions
 

Do you? I'm not expecting anything.

Is this some sort of pension payout option that you can take?

Re: Lump sum and pensions
 

It's not something extra, it's just what you are entitled to when you retire. I can't remember the precise name but a colleague of mine who was an AHT received about £60k about 5 years ago and I do not recall any changes. I believe it's linked to your annual wage at the time of retiring and is about one year's wage. I'll investigate further next week and update you just in case I'm a couple of years out of touch. It loos like the same situation is not apparent in Aus.

Re: Lump sum and pensions
 

Find this so far
http://www.goworkabroad.co.uk/what-h...-emigrate.html
If I find any more information, I'll post it.

Cooler

Re: Lump sum and pensions
 

I didn't think it was possible to 'cash in' a pension but you could transfer it to a comparable scheme or maintain the pension with contributions from abroad. I am interested to know the what's best to do as well.

Surprised no one from Aus has posted, but they have just had their summer holidays:thumbsup:

Cheers,
Cooler

Re: Lump sum and pensions
 

Thanks for your interest in this thread. I expect that my pension contributions from the UK will be transferred automatically across to the WA education etc. However, the lump sum you used to be entitled to, and I think we still are entitled to, are given to you when you retire - you still receive your pension though. I just hope the system is the same in Aus!! I'm going to enquire when I return to work on Monday.

Re: Lump sum and pensions
 

Oh, so you mean that you may get a lump sum at retirement. I read it as you were getting a lump sum upon leaving the UK.:blink: