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does anyone have any advice on pensions... should we leave it here and receive in Oz when we retire? should we cash it in and take the money? or transfer it from here into another pension fund in Oz. I am a nurse so have an NHS pension that i have been paying into for approx 17years... any guidance appreciated

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Comment by Geraint on February 8, 2011 at 7:58



There is but one answer and that is each case is different and you cannot generalise and give a Yes \ No answer.  So many factors need to be taken into consideration such as


1. Your Personal Circumstances

2. Will you return?

3. Is the transfer value correct? Mistakes are made by NHS - a current case we are handling is 20% out and the client would have accepted the figure without our intervention.  Was the error immediately apparent? No

4. Is the potential scheme compliant?  I have just checked a NZ scheme out - 23 technical errors

5. Should you consider a scheme outside of the Australian and UK options?


The list goes on.  I recently wrote an article for the benefit of financial advisers which would help them deliver advice (many financial advisers use our QROPS advice services due to the complexity). It might assist.


You can always contact us directly at or happy to assist - we moved the first NHS pension fund to Australia in 1996 and how the rules have changed.


But please factor in that this needs to be looked at pre-departure to avoid any bias (Australian advisers have a habit of persuading you to transfer a pension asap).  And don't get spooked by scare stories about tax to pay- it was a problem until July 2010, the laws have moved on.  When once it was the number one issue - its been relegated to bottom of the pile.

Hope that helped




Having worked 17 years then the final decision must be based on


Comment by Paul Johnson on February 8, 2011 at 1:26

Best thing is to take proper financial advice.  Are you coming here permanently or will you one day go back?  I'm moving my private pension here and will be paying Class 3 NI to secure my UK state pension.


If you're moving your private pension you must make sure the super fund here is  QROPS.

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