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Pension following move abroad
Groovejackson
Posts: 1 Newbie
I emigrated to Australia 2 years ago and don't know what to do with my pension. I'm 29 and haven't made any payments into it since the move. Is it worth leaving it where it is in case I move back, or transfering it to the Australian equivalent, which I am now paying into?
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Comments
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After only 2 years, I'd be tempted to leave it unless you absolutely know you will be there forever. Another way of looking at it is that it's diversifying your investment risks. I have pension funds in 3 countries although I do expect I will take the tax hit on the Aussie one at some point and take the funds out!0
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You are 29 and I wouldnt do anything with it now. You have 40 odd years to worry about it and the options available in future are almost certainly going to be easier and cheaper than they are now.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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It is doubtless already taxable in Australia so you may want to investigate a QROPS.0
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For more info on QROPS visit www(dot)paretheqropsmarket(dot)com no meercats but very useful!0
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Frugal, am reporting you for spam as you keep mentionning this lot. Anyone else smell boiler room steam?0
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