UK Pension Transfer to Australia | UK Pensions Melbourne

The Benefits of transferring your UK Pension to Australia

You can realise a host of benefits when you transfer your UK pension to Australia. One such benefit is the tax advantages you are entitled to when you transfer your UK pension to an Australian superannuation fund. By consolidating your UK pension into an Australian super fund, you will not have to pay any tax, in retirement. In contrast, if you leave your pension in the UK and receive a UK pension income, you will be required to pay tax in Australia.

By transferring your UK pension to Australia:

You gain greater control over your money.
You will have the flexibility of full access to your pension, when you retire from age 60, giving you greater control over how you manage and invest your money.
Your beneficiaries can be looked after. In Australia you can pass the full benefit of your super on to your beneficiaries. On the contrary, many UK pension funds pay a reduced benefit to a spouse and often nothing to the rest of the family.

Everyone’s situation is unique and by seeking professional advice from us, we will guide and support you on the best way to transfer your UK pension to Australia.

Full Tax Free Access

Full tax-free access to your pension is available from the age of 60

You are in Control

You are in control of the pension and how it is invested

Increase in Death Benefits

The potential for an increase in death benefits to beneficiaries

Retirement Savings

All retirement savings will be in Australia

Do I qualify for a UK pension transfer to Australia?

Each individual’s case is unique in nature. Before we can make an assessment on whether you are eligible to transfer your UK pension to Australia, you must satisfy the below mandatory criteria:

You must be an Australian resident
The Australian super fund must be registered in the UK as a QROPS
You must have permanently left the UK
The amount transferred must be within non-concessional contribution limits
Benefits already taken from a UK pension could prevent a transfer

How does it work?

Initially we will require an authorisation from you to approach the UK pension provider to request a detailed explanation of the pension and the accrued benefits. On receipt of this information a meeting will be arranged to discuss and ensure that a transfer to an Australian super fund is beneficial. You will be presented with a Statement of Advice (SOA) to provide the information you will need, to make an informed decision on any transfer in a manner as guided by Australian regulations. We will confirm in writing the reasons for and against a transfer, together with all associated costs. Once we receive your signed authority, we will prepare the transfer documentation to help you with requirements of the transfer.

What Client’s Say

Peter Almond efficiently and carefully guided myself and my wife through the processes for transferring a UK pension into an Australian superfund, taking care of all the bureaucracy. This was unknown territory for us, but it has proved to have been a really worthwhile exercise, and, thanks to Peter, a painless one.

Malcolm White,

Melbourne Vic

UK Pensions Melbourne has been established to provide help and knowledge to people who have left the UK on a permanent basis and are considering transferring UK pension benefits to Australian superannuation.

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Guide to Transferring UK Pension

Regulated Australian financial advice is provided by advisers sub-authorised by Life’s Nett Pty Ltd (ASIC 1293632), a corporate representative of HNW Planning Pty Ltd (AFSL and ACL 225216)