We have created an eBook to explain a snap shot of the history of pension transfers to Australia and the current options available to you.
Download the eBook NOW
Following a telephone conversation with HMRC last week we can confirm that the Class 2 rate has been extended for the 2018/2019 tax year.
This gives those who have not yet applied, time to quickly apply to receive the Class 2 rate. Those who wish to purchase an additional year will receive a saving of approximately $1000 on the 2018/2019 tax year.
Good News all round. But DO NOT delay. Class 2 rates ARE being abolished and you will need to ACT NOW to secure the best possible rate.
How long have you been in Australia? How many UK Pensions do you have? Have you been receiving regular updates on your investments?
Are your pension statements filed away until retirement? Did you know that the administrator or personal pension who was looking after your pension when you migrated, may not be the same administrator or insurance company who is currently looking after your pension. Did you know that upon retirement the onus is on you to provide evidence of your membership!
It’s very important to get regular updates from the UK and keep in regular contact with any updates in your circumstances or personal details. They will always contact you via your last known address on their records. They may not even notify you when they change administrator.
As you may be aware if you are under 55 then you are unable to transfer these funds to Australia. However you still have options, especially if consolidation is a key priority for you.
Imagine all of your UK funds in one place, with one logon, one password and one adviser, who is based here in Australia.
Our financial advisers can recommend the right product for your UK Pensions consolidation. You also can choose to hold your funds in GBP or AUD, You can also invest in a range of Australian portfolios while you wait until you can roll the funds over to an Australia QROPS at age 55.
If you are over 55, consolidation prior to transferring might be your only option, with the reduction in contribution caps from July 2017 it is important to consider the caps prior to transferring and by consolidating the funds it is easier to move each tranche without worrying that the funds are coming from several source at different times and the remaining funds can be managed until the tax year of transfer.
PTS are always happy to investigate all of your options. Call the PTS on 08 9233 9269 or email email@example.com
Our initial investigations are provided free of charge and are provided to update you with information and current options for your UK Pension Benefits.
It was a relief this morning to review the Budget and it would appear that UK Pensions and QROPS have not received any major changes in the UK Budget.
Positive news for those with larger balances, the lifetime allowance (LTA) will increase by £30,000 from £1 million to £1.03 million from April 6 2018,.
The UK Personal Allowance is on the rise from £11,500 to £11,850 in the 2018/2019 tax year.
If you are interested in other major announcements from the UK Budget a summary can be found by following the attached link: https://www.gov.uk/government/news/autumn-budget-2017-25-things-you-need-to-know
The NEW UK state pension was introduced in April 2016. Find out if you should already be in receipt of this pension.
The very first video in our series of pension explainer videos is a very short introduction to Pension Transfer Specialists. All of our videos will be relatively quick. The first being 45 seconds! Be sure to share the video and subscribe to our newsletter to receive short infomercials.
They will easily explain the services we offer, together with short explanations, common problems, QROPS rules, options for transferring. They will compare features and benefits of pension transfers and will be short, informative and easy to understand!
We will also be releasing short videos to explain how to maximise your State Pension. Who can claim? When can you claim? How much is the pension? How can you achieve more!
All these questions and more will be explained in the video’s coming soon.
We would love to hear from any expat who has questions regarding their UK Pensions.
Call now 08 9233 9269 or email firstname.lastname@example.org
Due to demand we hosted a second Pensions Q and A session at the British Bistro last night.
It was a huge success with Questions relating to pension transfers and the UK State Pension. We are pleased to be able to assist so many to transfer and maximise their UK entitlements.
We are happy to assist with no obligation consultations please call on 08 9233 9269 or email email@example.com