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QROPS MEANS GOOD NEWS
FOR UK PENSION TRANSFERS

 
 

Do you have a UK pension? Are you thinking of transferring it to Australia? Read on for some good news.

If you transfer your UK pension to a fund that the UK accepts as a QROPS – a qualifying recognised overseas pension scheme – there’s no UK tax payable on amounts up to £1.6 million*. Aon Master Trust Personal Super is a QROPS and so can offer you this facility. There could be tax concessions in Australia too.

The rules in both countries are complex and there are many factors that will influence your decision to transfer. Depending on your personal circumstances, transferring may (or may not) work in your favour.

See the guide Transferring your UK pension benefit to the Aon Master Trust for:

  • taxation on transfer and ongoing tax obligations
  • issues to consider
  • steps to follow
  • Aon Master Trust and Australian Tax Office forms.

See also the Aon Master Trust Personal Super Product Disclosure Statement.

Good advice

There are many factors to take into account and we recommend that you talk to a financial adviser before making your decision. Your adviser will take you through the pros and cons of transferring and, if you decide to go ahead, they can help you complete the paperwork.

If you don’t have a financial adviser but would like to be put in touch with one**, call us on 1300 880 588, email us, or log in and follow the my ebenefits link.

Lost track of your UK pension?

You might be able to find it through thepensionservice.gov.uk

 

 

* Note that contribution caps in Australia may limit the amount you can transfer to an Australian superannuation fund in any given year.

** Financial planning services are not provided by Aon Superannuation Pty Limited.