Pension Transfers

Moving your personal and financial lives to Australia is an enormous undertaking. With the amount of information available between the internet, family, and competing businesses, being able to make informed decisions on such an important asset as your UK Pension can seem a little overwhelming. Being able to engage a specialist who has the experience of a Vantage Financial adviser (and their UK partners) to give timely and objective advice is invaluable.

Getting the right advice

In the pension transfer market, there are specific financial and tax issues that need to be addressed both in the UK and Australia. Australian advisers are generally not licensed to advise on UK financial products (and vice versa). Our seamless process engages specialists in their respective jurisdictions so that you get tailored advice by those who are licensed to provide it.

Whether to transfer your pension or not needs to be a considered decision and you need to be fully informed about your options.

Moving your funds to Australia

If you decide to move your UK pension funds to Australia, we will work with the UK advisers to move your funds to a QROPS designated fund in Australia and invest the funds in a manner consistent with your lifestyle needs and risk profile.

We have partners nationally so regardless of where you move, we can assist you. For anyone who would like to consider moving their funds into a Self-Managed Superannuation Fund (SMSF), we have experience in registering SMSFs to get QROPS designation.

How much will it cost?

It is important to note that you will always be advised what your costs will be before proceeding. Our fees are divided into offshore and onshore fees. The offshore fees include the plan preparation fee for the initial report by our specialist UK based Independent Financial Advisers.

Then, if you decide to transfer, you will be quoted a transfer fee. The report fees vary due to the complexity of your situation. Transfer fees will be quoted in your report and will be dependent on the number of funds that you have and the level of work required bringing them to Australia. 

So how do I begin the process?

If you want to investigate your options, it’s simple. We have outlined our pension transfer process below.

Our pension transfer process

  1. Complete an authority letter.
  2. Engage our UK Independent Financial Advisers. 
  3. Receive your tailored report, outlining your options in relation to your UK pension funds.

If you decide to transfer your pensions;

  1. Engage a Vantage Financial Adviser to produce a Statement of Advice or SOA (which outlines our recommendations in Australia)
  2. If you approve our recommendations, engage Vantage Financial to manage the transfer of your pensions to a QROPS superannuation fund in Australia. 

     

‘Your help with the transfer of our assets and pensions from the UK and the advice when seeking a mortgage for our first house in Australia was invaluable. Everything has gone very smoothly and stress-free thanks to the knowledge and experience of you and your team.’

(Dave and Sam, Carindale)

Contact us to speak with a specialist pension transfer adviser.

 

Disclaimer: The information contained within this website is of a general nature only. Whilst every care has been taken to ensure the accuracy of the material, WealthSure Pty Ltd will not bear responsibility or liability for any action taken by any person, persons or organisation on the purported basis of information contained herein. Without limiting the generality of the foregoing, no person, persons or organisation should invest monies or take action on reliance of the material contained herein but instead should satisfy themselves independently of the appropriateness of such action.

Our Australian Financial Services Licence is provided by WealthSure Pty Ltd (AFSL No: 238030). Please note that WealthSure Pty Ltd is not licensed to provide advice on Mortgage Broking, General Insurance, Legal Document Drafting, Taxation, Real Estate & Business Coaching.