TAX
CONSIDERATIONS
Australian superannuation can provide tax advantages in retirement, depending on your age, circumstances and the applicable superannuation and tax rules. The tax implications of transferring a UK pension should be considered before proceeding.
CONSOLIDATE
PENSIONS & SUPER
Bringing retirement savings together in Australia may make them easier to manage and provide a clearer view of your overall retirement position. However, consolidation should only be considered after reviewing the benefits and features of your existing UK pensions.
RETIREMENT
FLEXIBILITY
Australian superannuation may provide different options for accessing and managing retirement benefits compared with some UK pension arrangements. The benefits and guarantees of your existing pension should be considered before deciding whether greater flexibility is beneficial.
FOREIGN EXCHANGE
MANAGEMENT
Holding retirement savings in Australia may reduce future exposure to GBP/AUD movements on assets converted to Australian dollars. Currency movements and the timing of any conversion should form part of the overall transfer strategy.
ESTATE
PLANNING
UK pensions and Australian superannuation can have different death-benefit and estate-planning consequences. The treatment will depend on the type of pension or superannuation arrangement, beneficiaries, residency and individual circumstances.
