Is your UK Pension getting the Sunshine it deserves? Why don't you bring it over to Australia?
Is your UK Pension getting enough Sun?
If you've been contemplating whether to transfer your UK pension to an Australian Superannuation, let's dive into the top 3 fun reasons that may convince you to make the switch. Tax savings, kangaroos, and barbies, oh my!
Drumroll, please! The number one reason to transfer your UK pension to an Australian Superannuation is... tax savings! When it comes to tax efficiency, Australian Superannuation is like a superhero in a cape. Unlike UK pensions, where you're likely to pay income tax on your withdrawals, Australian Superannuation can offer tax-free withdrawals once you reach your preservation age and meet a condition of release. In other words, you might have more money to enjoy your golden years in the Land Down Under, and that's a "fair dinkum" reason to consider the switch. Eligibility Test