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Transfer your pension to Australia

  • Money from the pension is free of tax in retirement
  • Can be taken as an income or lump sum
  • Transfer your pension within 6 months of becoming resident in Australia and any tax charge is waived

Revenue regulations in Australia make it singularly disadvantageous for former UK residents to leave their pension fund back in the UK. Should you do so and start to draw benefits at retirement age then you are likely to be liable to Australian income tax, not only on every penny received in pension payments but also on the “tax free” cash lump sum that may be available from your UK scheme.

Furthermore, in the event of your premature death, any specified death benefit paid to a spouse or dependent may also become liable to Australian income tax.

What we do to reduce currency risk

Where possible we use currency brokers to get you an excellent rate of exchange on the transfer to Australia. Should you still be concerned about the rate of exchange, we can transfer your pension and keep it in a Sterling denominated Australian pension scheme. You are then able to move to Australian Dollars at a time of your choosing.

Why Use ABG?

  • Regulated and authorised in the UK and Australia
  • Offer a door to door service where we move pensions out of the UK and help you manage them after you have arrived in Australia
  • Established in 1987, over 30 years in business helping many people move their pensions with them to Australia