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Qld, Oz- private (non gov) pensions/superann- how do they work?

(3 Posts)
Draylon Sat 25-Feb-17 16:57:24

I worked in Qld for about 10 years in health care; My original superannuation plan was with QSuper, I then moved my contributions to my new job, to MAP.

We've been in the UK 13 years now, DH is 56, I'm 54, so my question is- how do the payouts or monthly pensions work,from private pension/superann. providers?

What do Queenslanders do with that money? Take it in cash? Invest it (in what?).

And thoughts welcome!

chloeb2002 Tue 28-Feb-17 07:20:56

You will be able to of into your q super account online and that will give you all the options for how and when you can withdraw your super.
I know the uk government recently put up a ban on uk pensions leaving the U.K. I'm not sure if the australian government have done a counter act or not yet?
If they haven't I'd consider moving it while you still can?! Unless you have access to an Aus account still and can draw on it that way?
Certainly we have been caught out the other way with pension now stuck in the uk that we cannot move to Aus and no current uk account to place it into so we will have to find a way to open an account at pension age to draw from the uk in dribs and drabs or loose 40% in tax.

Draylon Tue 28-Feb-17 16:00:41

Gosh, I hadn't heard about the ban! Might that only be State Pension, tho?

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