Here is some useful information for migrants to Australia with pension funds they want to transfer - a list of QROPS superannuation funds, published by the UK's HM Revenue & Customs:
http://www.gomatilda.com/news/article.cfm?articleid=400

Best regards.

Alan,

I currently have an NHS pension (over 20 years subscription) can I apply to any of these companies that are QROPS recognised and do employers have their own scheme or will they pay into a company you have chosen.

Thanks Alison

p.s

How can I find out about the funds/companies

Thanks Ali

I would be contacting a competent financial planner ... feel able to contact me if you would like details of the person to whom I refer clients.

Best regards.

quote:

Originally posted by Alan Collett:
Here is some useful information for migrants to Australia with pension funds they want to transfer - a list of QROPS superannuation funds, published by the UK's HM Revenue & Customs:
http://www.gomatilda.com/news/article.cfm?articleid=400

Best regards.

It may be worth telling people that they can transfer directly into their own (personal)super fund (smsf) in Australia. There is plenty time to set it up, get QROPS approval and make the transfer within 6 months of becoming tax resident.

Regards

Agreed. That is what I have done in the last couple of months - my SMSF is on the UK Revenue list.

My UK pension arrangements were with Standard Life and Norwich Union; once I had guided their admin people through the new legislation it wasn't too challenging an exercise.

Obtaining QROPS status involved completing a UK Revenue form, and about 3 weeks later my SMSF had QROPS status.

As a general rule a SMSF is worth considering once the fund value exceeds about $200k in value because of the annual compliance costs.

Best regards.

My pension fund is a 'final salary' one - does that make a difference in transferring?

It shouldn't - a transfer value should be available.

The more important question is whether you should transfer the UK pension benefits to Australia.

Best regards.

Hi Alan,

So if you leave your pension where it is.
Do you pay tax on it when you want to access it when you retire as an ozzy citizen?

Thanks,

Natasha

Probably.

This question requires a relatively detailed answer, and with time in short supply presently we'd have to agree a fee for my advising you.

Please send me an email if this is of interest.

Best regards.

Im a newbie Will be moving to Brisbane on august 2007. What i would like to know is about my existing pension Ive been paying it for 8 years thru NHS. Whats QROPS scheme is available is Queensland. I will be working as a nurse @ TPCH.

Hi Allan

I have transfered my pension across to a QROPS, Im 52 now and gather I can draw the whole lot out tax free at 55 - correct? Whats happens if I move back to the UK after that date?

I will be delighted to advise, but this will need to be on a fee basis.

If this is of interest please send me an email: alan - at - collettandco - dot - com

Best regards.

quote:

Originally posted by Alan Collett:
I will be delighted to advise, but this will need to be on a fee basis.

If this is of interest please send me an email: alan - at - collettandco - dot - com

Best regards.

alan i have tried contact email above without success - i am looking for pension transfer advice

cud you please make contact with us

coulthurst5@aol.com

i will then email back our requests and discuss fees

thanks m

Martin,

You have mail ...

Best regards.

Both myself and my partner have finally completed transfer of UK pension funds into a QROPS scheme. This has taken over 6 months from arrival, so we are liable to tax (@ 15%) on any growth since our arrival date. (Small tangent - the ATO advise that this only considers the relative values between the 2 dates in £GBP, and doesn't take into account any fluctuation in exchange rates, which in reality have wiped out any real increase in value, and then some! ).

My pension fund happily provided me with a valuation for our arrival date (which could then be compared with the actual transfer value), but my partner's UK pension fund (the NHS) refuses to give her a valuation for our date of arrival (13/09/06)as a matter of policy. Has anyone else encountered this, and if so, do you you have any suggestions?

Given the state of the market during this period, we expect that the actual amount of tax owed will not be that great, but don't know how we can tie off this last loose end.

I am 67 and retired a couple of years ago. I have a drawdown pension which I have never accessed. If I transfer it to a QROP when I emigrate can I take a pension from it immediately and would it be subject to tax?
Best regards
Fred

quote:

Originally posted by Alan Collett:
Here is some useful information for migrants to Australia with pension funds they want to transfer - a list of QROPS superannuation funds, published by the UK's HM Revenue & Customs:
http://www.gomatilda.com/news/article.cfm?articleid=400

Best regards.

You cannot derive a benefit from a transferred UK pension scheme for at least 5 complete tax years following your departure from the UK - unless you are reconciled to a tax liability arising.

Please send me a Private Message (via New on the links above) or an email if you would like me to ask my pension transfer colleague to advise further.

Best regards.

Alan

we contacted WHK Horwath Wealth Management re my pension transfer and was quoted 4,000AUD + GST for this service. Is this the going rate for such a transfer? Seems a little on the high side for what seems a relatively straight forward process?