What type of UK Pension can I transfer to Australia?admin
You may transfer the following types of UK pension arrangements to an Australian QROPS:
- An Occupational Pension Scheme – A pension offered by your employer, typically a Group Personal Pension.
- A Defined Benefit Scheme – These are schemes offered by your employer which offer a guaranteed benefit in retirement. Also known as Final Salary Schemes.
- A Defined Contribution Scheme – These are Personal or Group Personal Pension Plans. A Self Invested Personal Pension (SIPP) is a Defined Contribution Scheme.
- A Small Self Administered Scheme (SSAS) – This is also a Defined Contribution Scheme, however, the set up of them is a bit more complex.
The following types of UK Pensions are not permitted to transfer:
- UK State Pension
- Unfunded Civil Service Pensions which include NHS, Teachers, Fire Fighters, Police and Armed Forces.