Hello all

Had a very useful discussion with Lorraine Beaumont at Southampton this morning which has helped with queries on a different post that I made last week. One of my major concerns now is what to do with a pension fund that I have with the Prudential in the UK. At this stage it is still a fund (i.e. I haven't made any drawdowns or bought an annuity) and all my research tells me that in due course I will be able to transfer to an Australian scheme (although I understand there are reporting requirements for the first 5 years).

However, I would be very interested in getting the fund out of the UK as soon as possible - partly to get the 5 years restrictions out of the way asap. I understand (obviously) that I have to be non-resident as far as the UK is concerned before I can do anything.

So my query is whether Australian schemes that are suitable for QORPS entail Australian residency (which would mean I'm stuck until I actually move) or whether there are any Australian schemes that would accept a transfer if, for example, I lived in (say) Spain or another EU country whilst my Visa application was going through (my Visa would be as a Contributory Parent).

If anyone has any experience or comments on this, it would be greatly appreciated.

Thanks

John.

Hello John

I think you will find that you have to give an Australian Tax File Number to the receiving fund before you can make the QROPS transfer.

As you state this would entail Australian residency(tax).

The HMRC QROPS site questions and answers covers most of it, but as is always the case the answer to someones specific question is never there.

Not sure if this helps but hopefully someone else with personal experience will come back on the thread.

Regards

Tim