Transferring your UK pension funds is a simple way to achieve a potentially better retirement income for yourself and long-term peace of mind for your family – without working longer or harder or taking greater risks with your assets.
If you intend to retire in Australia you will almost always be better off transferring your UK pension funds too. By transferring you could:
SAVE up to 45% tax on your pension
The sooner you transfer, the less tax you’ll pay and once the funds are in Australia you’ll pay no tax at all in retirement
CONTROL the capital value of your pension
It’s your money after all so you should have the ability to control how it is invested, now and in retirement. And when you retire you can access up to 100% of it as a lump sum.
PRESERVE your pension for your beneficiaries
In Australia you can pass 100% of the asset on to your family, forever – unlike the majority of UK pension schemes that only pay a diminished benefit to a spouse and all too often nothing at all to the rest of your family.
Title: But Will It Benefit You?
Everyone’s circumstances are different and your situation could mean your UK pension funds are actually better off left in the UK. And if that’s the case, it doesn’t matter how cheaply a transfer can be made, it won’t benefit you.
PTD is unique in giving you the answer to this most important question because only we show you a comparison of your position if you were to leave the funds in the UK against transferring them to Australia.
It is also possible to transfer in non-compliant and incorrect ways that will actually erode your assets and create ongoing problems for you with the Australian Tax Office – another transfer scenario that won’t benefit you no matter how cheaply it can be done.
Getting advice from PTD is the best way of making sure that transferring benefits you.