Hi everyone,

My husband and I are hoping to go over as permanent resident (136 skilled visa) at the beginning of next year. If we get over there and decide to come back to Canada after a few years can we transfer the super funds back to Canada?

I assume it would have to be transfered to our equivalent Registered Retirement Savings Plan (RRSP). I still would like it to be locked in as retirement funds, so I guess I'm just worried about losing it somehow. Would there be any penalties?

Haley

I think you'll find that funds in an Australian superannuation fund cannot generally be accessed by a departing Australian permanent resident - they are preserved until retirement age.

Best regards.

Thanks Alan,

Not quite the answer I was hoping for but it might be ok.

Let's suppose we do leave the country after a few years and our super funds remain in Australia until we hit retirement age. Can we then access the funds even though we might be living in Canada?

We are actually hoping to stay long enough to get citizenship. We may in fact stay forever. I guess we just don't want to lose the money permanently if we do decide to come back.

Haley

I would expect that to be possible, yes.

Best regards.

Thanks for the quick response Alan!

No worries!