15th March 2023 The lifetime limit on tax-free pensions savings will be abolished, the chancellor has announced. In addition, the annual tax-free pension allowance will rise to £60,000. The changes are part of the government's plan to get older people back into work, but most people are unlikely to benefit. What are the pension [...]
Transferring your pension into a registered QROPS scheme triggers the need to be in a QROPS for five full UK tax years (as a minimum). HMRC also has a 10-year reporting requirement. During this period any money moved into a non-QROPS within the relevant period will trigger an unauthorised payment charge of up to 55%. [...]
The 2018 UK Budget announcements did not include much in the way of pensions this year with the Chancellor's focus squarely on pre-Brexit preparations. At a glance - The key points of (pension) relevance include: The Lifetime Allowance will increase to £1,055,000 from April 2019 (currently £1,030,000) There will be a ban on cold calling in [...]
UK Pension Transfers to Australia - Exchange Rates
UK Pension Transfers to Australia - Eligibility Rules
UK Pension Transfers to Australia - Legislation
UK Pension Transfers to Australia - UK Lifetime Allowance
UK Pension Transfers to Australia - Pre-Transfer Information (UK Advice) In this 2 minute video Transfer Specialist Scott Noell explains when and why a UK Adviser is required as part of the transfer process.
Firstly, a Defined Benefit pension is an investment vehicle that was often used as a recruitment tool, usually funded by contributions from both employer and employee and provides a number of benefits upon retirement that are promised by the employer. A Defined Benefit transfer is the name given to the process of transferring the value of [...]
The amount you can save into a pension – once you have already taken some money out – has been slashed by the Government in a bid to clamp down on those seeking “double tax relief”. The move will hit hundreds of thousands of people, aged 55 and over, who have used the new “pension freedoms” [...]
Full analysis of your UK Pension from:
When considering a UK pension transfer it is imperative that you understand what you will be giving up and what you will get in return.
This report is provided free of charge and there is no obligation to transfer your pension.