UK Pension Transfers

Pension Transfer Specialists assist UK migrants and returning expats to transfer their UK pensions to Australia.

Which funds can be transferred?

Provided you meet the required criteria almost all personal and company pension funds, including deferred benefits, AVCs and preserved benefits, can be made as a UK pension transfer to Australia. Rules have changed in 2015 which prevents unfunded public sector pension schemes from being transferred out of the UK.  All unfunded public sector schemes eg Teachers, Police, doctors, nurses and other public sector employees are exempt from transferring their pensions to Australia. Changes brought about by the Pension Act 2015 complicated the transfer process further with the introduction of UK independent financial advice.  This Act also brought about a dramatic change in the eligibility of Australian Superfunds, as a result we saw the number of eligible schemes reduced in 2015. PTS are available to answer your questions regarding the funds you hold in the UK and your options for transferring.   Please call 08 9233 9269 and we will be happy to answer any questions you may have regarding your pensions. We cannot transfer the UK State Pension, but the team at McKinley Plowman can assist in enhancing your entitlement by additional voluntary contributions.


All pension funds must be transferred to either a UK registered SIPP or a Recognised Overseas Pension scheme which are approved by Her Majesty’s Revenue and Customs (HMRC).

Why transfer?

The importance of regularly reviewing your retirement strategy should not be underestimated and whilst living in Australia you may find it difficult to review and manage your UK pensions. You may be paying high pension charges and your funds may not be invested according to your requirements. By consolidating your pension benefits you will be able to:

  • reduce your costs
  • have an investment strategy that is appropriate to your retirement objectives
  • reduce tax in retirement
  • eliminate currency risks
  • increase flexibility in how you draw your pension
  • enhance your death benefits
  • eliminate the risk of changes to UK tax law and pension legislation

 If you do not transfer before you retire

If you do not transfer your UK pension fund, your UK pension will be taxable in Australia. Once your pension starts to pay you an annuity or annual pension, this cannot be transferred.  You will then be subject to exchange rate fluctuations throughout your retirement.

The process

Step 1 – Free, no-obligation consultation

Call our office on 08 9233 9269 to arrange a free pensions consultation Alternatively Download and complete the Authority Data Form, then post the original to us. We will write to your UK fund provider to request your retirement information, transfer values and obtain the discharge documentation.

Step 2 – Consultation

We can arrange a FREE, NO OBLIGATION consultation with our financial adviser to discuss the pension information that we have found and explain the transfer process and options available.

Step 3 – The Transfer

Depending on the value The UK pension provider will release the funds to either a UK HMRC registered SIPP or direct to an approved Australian ROPS. The balance of the funds after fees and charges are then invested by your financial advisor in accordance with your retirement investment strategy. We expect to complete the transfer within 3 – 6 months from the date you sign your Authority Data Form.

Why Pension Transfer Specialists?

Pension Transfer Specialists (PTS) are a business that specialise in UK pension transfers into UK SIPPs or approved ROPS superannuation funds. The PTS team includes UK migrants with experience and relevant qualifications from the UK financial planning and pensions industry.

In addition, we have dedicated worldwide partners that are able to provide regulated financial advice in conjunction with our transfer service should it be required. We have extensive knowledge and experience in pension transfers and complex tax regulations. If you require any further information then please contact us.

PTS Financial Planning is the trading name of PT Services (WA) Pty Ltd. PT Services (WA) Pty Ltd and its advisers are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306

Pension Transfer Specialists (PTS) are the providers of the UK State Pension Service.

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