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.
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.