Drawing on Superannuation Fund in Australia.

Funkhauser1

Hello all. I'm a UK citizen but I lived in and worked in Australia between 1989 and 1997 - I also have Austrlian Citizenship.

In 1990 I moved my local government pension into the Aussie company's Super fund.

I am 60 in December 2017 and would like to take my 25% tax free lump sum.

I don't know how to go about this, don't know what the tax implications are and also how - if it's possible - to move it when the exchange rates are favourable - I imagine this would be a bit of a lottery.

Any advice appreciated.

Many thanks

Marty

xylophone

Are you now living in the UK and resident in the UK for tax purposes?

All your pensions are now in the Australian scheme?

Do you have any other UK pensions? If so, of what kind?

https://www.ato.gov.au/Individuals/Super/Accessing-your-super/

Is anything in the above relevant?

HappyMJ

Funkhauser1 wrote: »

Hello all. I'm a UK citizen but I lived in and worked in Australia between 1989 and 1997 - I also have Austrlian Citizenship.

In 1990 I moved my local government pension into the Aussie company's Super fund.

I am 60 in December 2017 and would like to take my 25% tax free lump sum.

I don't know how to go about this, don't know what the tax implications are and also how - if it's possible - to move it when the exchange rates are favourable - I imagine this would be a bit of a lottery.

Any advice appreciated.

Many thanks

Marty

What I will do when I get to 60 (my preservation age) is to take a super lump sum on my Australian pension and move it to the UK straight away in one lot.

There's no point trying to time foreign exchange rates. It could move against you and you will lose so just move it when you cash it. As you say it's a lottery.