UK Pension Transfer

The Challenge Expert Advice The Outcome

Pension transfer for UK migrants

Ken and his wife Barbara were our clients who migrated from the UK to Australia. Ken had retired and was considering bringing his UK pensions to Australia.

He discussed his options with our partners in the UK who are licensed UK financial advisers who specialise in pension transfer advice.

They prepared a report for Ken which outlined the options for his funds and formed the basis for his decision to move them to Australian superannuation.

Structured transfer of pension funds

Due to contribution limits to super, Ken was unable to bring all of his UK Pension funds to Australia in one transfer so we structured the initial transfer over two tax years to maximise his contributions.

Our UK advisers invested the remaining funds offshore for three years until he was eligible to transfer them again.

Helping our client achieve their goals

We prepared a report for Ken and made recommendations for investing his funds in a QROPS super fund that met his lifestyle goals and in a manner consistent with his risk profile.

 Ken wanted to draw a pension from these funds so we structured an allocated pension that met his lifestyle needs and didn’t create any issues with HM Revenue and Customs (HMRC) in relation to excess pension drawings.

Ken and his wife rented a house initially on arrival but then found a house that they wanted to purchase. We referred them to our mortgage broker who was able to research and recommend a suitable provider.