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Does transferring a UK pension abroad, transfer the amount I've contributed and my employers?

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  • Silvertabby
    Silvertabby Posts: 10,138 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    Simple bank transfer every month.  Only issue is that the amount is subject to the exchange rate on the day of payment, so will fluctuate from month to month.  
  • sandsy
    sandsy Posts: 1,752 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    It's not possible to transfer out of the NHS to any defined contribution scheme, including a QROPS. You could transfer to another defined benefit (DB) scheme, including a QROPS DB scheme. This has been the case since April 2015 when transfers from public sector DB schemes to schemes offering flexible benefits were prohibited.

    See:
    https://www.nhsbsa.nhs.uk/sites/default/files/2024-05/Overseas%20Transfer%20Out%20Guide%20and%20application%20pack-20240426-%28V15%29_0.pdf



  • Silvertabby
    Silvertabby Posts: 10,138 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    As in the UK, it is highly likely that OPs Australian occupational pension will only be DB if it's a public sector job.  If OP is joining a private company with a DC scheme, then that rules out a transfer.

    However, OP won't lose out as their NHS pension can be paid to an Australian bank account when the time comes.
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