Archived Discussion Topic

NHS Superannuation       started by donaa2 on 27 Oct 2010   (23189)
Message InfoMessage
From donaa2

27 Oct 2010 6:39 AM
(109618)
Hi there, Can any ex NHS workers please advice me what i need to do with my superannuation. I am not planning to transfer it as i understand it will then be stuck in Australia should we decide to move back to the UK. Do i need to notify anyone that i am leaving the country and how do i go about claiming it from Australia and at what age can i claim it. Have been looking for a website but can't seem to find one or any info about claiming when living abroad. Thanks for any advice. I am just getting a bit bogged down with everything that needs to be done as i am sure many of you can relate to. We move out in 4 weeks and fly in 9 weeks. !!! Stressful times. Cheers Andrea
From janeandian

To donaa2

28 Oct 2010 10:31 AM
(109623)
Hi I have just been through this process. We have been in Perth for nearly 6 years. I worked for the NHS for about 22 years so it was a big decision regarding my pension. When you leave just tell the pension dept to freeze your pension, then when you have an address here inform them so that they can send your annual statement to you. I brought my pension over earlier this year for a few reasons. fistly, we are pretty settled here now and dont intend returning to the UK, I also learned that if you die in Australia your family will only receive a percentage of monies owed and the rest goes back to the goverment. I used an agent to bring it over and took a hit with the exchangee rate and fees but my reasoning was that it will be a long term investment and it is more likely to grow in this country rather than in the UK with all the present restrictions on pensions and interest rates etc. If you do transfer it it has to go into a recognised super fund here and you can apply to take some of it out when you are 55 tax free. Hope that helps Jane
From Mindblower

To janeandian

28 Oct 2010 10:50 AM
(109624)
We did exactly the same things, for the same reasons. Difficult decision though.
From kildrummy

To Mindblower

28 Oct 2010 7:54 PM
(109625)
I was wondering how long a process transferring a pension was. I intended waiting until the exchange rates are more favourable but was unsure how quickly it could be achieved from a standing start so to speak.