Over 55 Standard Transfer
Just like the red London bus our Over 55 Standard Transfer solution is designed to get you (your pension) from ‘A to B’ in the most efficient and cost effective manner possible.
Whilst all aspects of your unique financial situation are considered this solution is primarily focussed on administration, process and navigating the (ever changing) pension transfer rules of both countries.
At Finsec PTX we make it our business to simplify the complex, so you can sit back, avoid any potential frustration or anxiety and let our specialists do their job.
Why do I need a specialist to help transfer my pension to Australia?
Getting the Process Right.
Historically (before all the legislative changes) UK product providers were willing to give out enormous help and guidance (as distinct from advice) to people wanting to transfer. However the world changed in April 2015 (and subsequently again in May 2016 and April 2017) adding a huge layer of complexity. Today product providers are reluctant to provide assistance at all.
Why? Because the need for advice and ensuring things are done at the right time and in the right order is crucial.
It may not be rocket science (depending on the complexity of the transfer and the individual’s circumstances) however get the process wrong and you can create restrictions for yourself or trigger unwanted tax consequences in both the UK and/or Australia.
On a weekly basis we get a phone call from someone that has come ‘unstuck’ trying to DIY and has got the process wrong. Sometimes we can help, sometimes it’s too late.
If considering a transfer it is critical that you seek expert QROPS advice before making any decisions. The goal of this advice is to determine whether or not a transfer is financially beneficial to you and that any associated strategy properly considers all your unique goals and objectives.
Knowledge and experience of proper set up and reporting requirements is critical to ensure that no HM Revenues and Customs (HMRC) rules are breached, as a non-compliant transfer can attract a penalty of up to 55% of the total transfer value. Getting expert QROPS advice could potentially save you thousands of dollars on your transfer.
Our over 55 standard transfer service includes:
A complimentary discussion where together we will identify the issues or gaps that need to be addressed to meet your financial and lifestyle goals and objectives. You can then decide with confidence if you want comprehensive advice or advice limited to your UK Pension Transfer.
A Pension Transfer Report (Statement of Advice) that considers your circumstances to determine whether it is appropriate to transfer and why.
Transfer to or establish a QROPs Compliant Super Fund.
A fully integrated (UK & Australia) service that tracks and manages your funds through to their deposit into your Australian Fund in an efficient and compliant manner.
*Information provided on this website is general in nature and does not constitute financial advice please refer to Disclaimer for further information.