UK Pensions transferred to Australia may save UP TO 45% IN lifetime allowance TAX

Transferring your private or company UK pension to Australia can often offer many more benefits than leaving it in the UK.

And, with the recent rumours surrounding the reduction in the lifetime allowance threshold combined with annual contribution limits, it has never been more important to understand if a transfer would leave you and your family better off.

If you have worked in the UK, are a British expat or are thinking of retiring to Australia our complimentary 2021 Transfer Checklist will outline the thinking required for a ‘considered’ transfer.

For information on how a transfer may save you up to 45% in lifetime allowance tax click here.

DOWNLOAD YOUR FREE TRANSFER CHECKLIST

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2022 Key Benefits of Transferring Your UK Pension to Australia

Historically High Transfer Values (Defined Benefit Schemes) – Over the last few years, record low bond yields combined with companies incentivising members to move out of a Defined Benefit fund have led to record high transfer values. Prior to this 15X retirement pension had been the norm, whereas today we are seeing 30X – 40X plus multiples of pension. Currently, interest rates are rising, meaning Cash Equivalent Transfer Values (CETVs) will reduce and, given the interest rate trajectory, are likely to continue to do so for the foreseeable future. As things stand, most schemes are still offering CETVs that represent very good value – Considering your position and acting now could significantly improve your outcome compared with waiting for a return to a low-interest rate environment.

Avoid Future Legislative Risk – Remove the risk of significant and often retrospective legislative changes – our UK connections have us more convinced than ever that your pension could be under threat from further change.

One Jurisdiction – Managing the rules of one country can be difficult enough let alone having to continually consider both – 1 jurisdiction leads to a simpler, less complex wealth management scenario.

100% Of your Money Goes To Loved Ones – Pay 100% of your money to beneficiaries versus a reduced sum (or sometimes nothing at all) under the UK system – 100% tax-free if paid to your spouse or dependents.

Big Tax Savings – Australian Super withdrawn after 60 yrs is (usually) tax free Vs your pension payments taxed at marginal rates.

Remove the Lifetime Allowance – Pensions transferred to Australia do not continue to be assessed from a UK Lifetime Allowance perspective.

Freedom Of Choice – At retirement, you choose how to take your dollars – a lump sum, an annuity, an account-based pension or a combination.

Control the Currency of Your Pension – Since BREXIT having the freedom to control the currency of your pension has never been more important. Dollars landed in Australia can be kept in Sterling – you choose when to exchange and to what currency.

WHAT OUR CLIENTS SAY

We had been getting very distressed about the changing rules in the UK and needed advice we could rely on in transferring our pension to Australia. From the minute we spoke with David we felt he was listening to our concerns and his obvious knowledge in this field was a huge comfort. We were helped every step of the way and despite additional changes by the UK Government during this time David was in regular contact to explain what was going on.

Jacquie, Western Australia

We would recommend anyone to contact Finsec as they are easy to deal with, they listen, keep you informed and provide a great service from start to finish – this takes away so much of the stress involved.

J Hewitt, Western Australia

My wife and I embarked upon the complicated journey of moving our UK pensions 2 years ago and expected it to take at least another 3 years. One of the very good decisions we was to use the services of a major Australian Bank who assigned us one of their trained advisors in UK pension transfers, an independent specialist pensions transfer advisor from Finsec Partners. The advice has been excellent and has helped to ensure that we have met the complex but necessary rules that govern UK pensions transfers. My own background is strong in both Corporate Governance and Finance however I doubt that I could have succeeded in this task without outside expert advice.

John, New South Wales

I understood that this would be a tricky transaction and that I needed a UK based organisation to establish my SIPP. David was very clear with me; my options, what to expect with each and I really felt I could trust him. He never sold a solution to me – just presented my options. He had a long standing relationship with the UK based organisation he recommended and it just felt right.

Bill, Western Australia

TRUSTED BY

Accounting Professionals Australia wide
Financial Advisers Australia wide
The largest SMSF administrators in Australia
UK’s leading transfer advisers

BESPOKE REPORT, ZERO COMMITMENT & 100% CLARITY

At FinSec PTX we seek to understand:

your emotive rationale for wanting to transfer
your underlying motivation for seeking advice
your broader position and wealth goals and objectives
the finer details of the UK Pension schemes in question

It is only then that we can in good conscience determine if a transfer is viable and appropriate for you.

We will then present and discuss our findings to ensure you have a clear and concise understanding of the options available and can make an informed, non-emotive decision.

It is important to us that you understand what you will be giving up and what you will get in return.

There is no obligation to transfer your pension, and you will not be charged for this report.

Find Out Today If You Would Benefit From Transferring Your UK Pension

Full analysis of your UK Pension from:
- An Australian perspective
- A UK perspective
Potential tax issues and optimisation strategies
Overall financial needs analysis
Australian contribution strategies