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Hi Maximill,
I am not sure about moving your pension to Australia but you can cash it in, I did mine about 3mths ago and it was very easy.
The above information could be misleading for the OP. If he is going to emigrate to Australia as he states and wishes to transfer his pension there.... his funds are protected by legislation.....even from himself.....until he reaches retirement age. There are no fees charged by any intermediary. I worked in superannuation in Sydney for a number of years and the industry there is very heavily regulated.For information, be aware of the following: -
- The practice of unlocking pensions by transferring to other jurisdictions is known as Trust Busting. It's one that may end up being retrospectively outlawed, leaving those that participated with big tax bills. See .
- There's no protection of your fund.
- The intermediary takes a whopping commission - typically 10 - 15% of the fund for facilitating this.
- Since registering on Askaboutmoney.com, koscienly has only ever posted about this. Draw your own conclusions.
The above information could be misleading for the OP. If he is going to emigrate to Australia as he states and wishes to transfer his pension there.... his funds are protected by legislation.....even from himself.....until he reaches retirement age. There are no fees charged by any intermediary. I worked in superannuation in Sydney for a number of years and the industry there is very heavily regulated.
Thank you all for your replies, I haven't been on the site in quite a while because I wasn't sure about the visa to AU. But now we look like getting it by August so I'll be heading over in October.
Judging by your response Ann1, would I be right in thinking that is possible without too many penalties. Is it possible to transfer the fund before I move or is that against the law here?
- What costs are typically involved?
- Do you need an Australian address first?
- Can I do it online or do I need to ring somebody?
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