UK Pensions

With the exception of the family home, your pension fund is possibly the most valuable asset you own.  You wouldn’t dream of leaving the UK without ensuring that your home is either sold or rented out.  And yet thousands of people leave the UK each year, forgetting about the UK pensions they spent years building up.

We are a firm of Chartered Accountants who specialise in the transfer of UK pensions to Australia. Feel free to contact us today for more information about transferring UK pensions and receive an obligation-free pension fund transfer report.

Australia offers extremely favourable tax treatment to retired individuals who have transferred their UK pensions to Australia.  If you do not transfer your UK pension fund, your UK pension will be taxable in Australia.

In addition, any remaining pension fund can be passed on, in full, to relatives or other nominated beneficiaries on your death and your income in retirement will not be subject to exchange rate uncertainties.

You can transfer virtually all UK pensions to Australia with the exception of the state pension, which cannot be transferred.

To avoid an Australian tax charge arising on the transfer, it is generally necessary to complete transferring UK pensions within 6 months of arrival or while you are a temporary visa holder.  However, the tax charges after this period may not be as high as you expect.  We will calculate the tax liability for you and arrange for this to be paid by your superannuation fund if this is beneficial.

Once you have started to receive your UK pension it is usually too late to transfer your pension fund.  UK pensions are from then on subject to Australian tax.  So ACT NOW - you could save yourself thousands of $$ in unnecessary tax.