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moving UK pension to Australia

(5 Posts)
MyCalmX Tue 04-Jul-17 13:22:33

Has anyone done this recently? When I first started working in the UK my company paid 7% and it wasn't coming out of my 'package' so I was fine with it.

I've now been in the UK 8 years and have been paying in also for the last 3 years and have just read that I can't transfer my money until age 57 and it has to be with a registered Superannuation fund in Aus?

My pension provider told me way back when I started I just had to transfer my money by 6 months of returning to Aus but obviously the rules have changed and I didn't keep up and I'm now very annoyed with myself (and the new rules!)

Ginger782 Wed 05-Jul-17 05:06:47

See above link - I believe it's age 55.

CWG17 Wed 05-Jul-17 05:16:57

I thought you could move it if you were leaving the UK permanently and that it had to be done within 6 months of leaving.

I'll also be annoyed if that's no longer the case.

MyCalmX Wed 05-Jul-17 07:45:54

That's what I understand it is now Ginger which is really bloody annoying. We are thinking of moving home in the next 2-5 years and I don't want my pension lagging around here.

Sorry to be the bearer of bad news CWG17! But better to know now and make plans?

DH and I agreed we probably need an IFA, just don't how to go about finding one that can discuss UK v Aus v Ireland (DH is Irish so a possibility of a move there too if it makes more sense hmm)

chloeb2002 Thu 06-Jul-17 07:09:54

It has all changed.. sadly..
yes you now can't move it until the age of 57 I believe.. only into an approved super fund.
Changes brought By the uk government to prevent us accessing our pension in the way we can access our super/ self manage our super etc here. They will not allow that. I fail to understand what it has to do with them..
we will loose a huge amount in tax.. too

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