UK pension transfers
If you have benefits in a UK Pension and have left the UK permanently, you can transfer your benefit to Accountants Super and not be subject to the UK 'unauthorised payments' charge providing certain conditions are met.
Professional Associations Super, of which Accountants Super is a division, is a Qualifying Recognised Overseas Pension Scheme (QROPS). This means no UK tax will apply on transfer of your UK pension(s) into your Accountants Super account providing certain conditions are met.
Plan ahead for a tax-free transfer
Australian residents with a benefit in a UK superannuation/pension fund have six months from the date of becoming a resident to transfer the benefits to an Australian complying super fund, without paying tax on transfer.
Depending on how you elect to have the payment treated, some Australian tax may apply. The transfer will be assessed (in part or in full) towards your non-concessional contribution cap.
Note: Any subsequent benefit payments from your UK transferred funds may attract UK tax while you are still considered a UK tax resident.
How to arrange a transfer
Transferring benefits from a UK pension involves processes both over there and here in Australia. It can take from six weeks to 12 months.
The first step is to contact us, and we'll step you through the process.
Our dedicated team of Member Services Consultants can also provide assistance with these transfers. Email memberservices@accountants-super.com or call 1300 651 331 and we'll put you in touch with your local Member Services Consultant.
More information
Read our UK pension transfers factsheet or contact us if you have questions.
About the Fund
Accountants Super is a specialised super fund for accounting professionals. Plan your future and safeguard your assets with our flexible, reliable solutions. With years of experience providing for accountants, we have all the specialised knowledge and expertise to help you manage your super easily and effectively.
Our straight–forward accountants superannuation product gives you the benefit of low fees, flexible options and affordable insurance cover. For years we have been providing accountants with quality services, timely and accurate information. We pride ourselves on our personalised service.
If you’ve ever changed jobs or locations, you may need to consolidate your super. Accountants Super can help with this, so you don’t miss out on any lost or unclaimed super funds. Build a stronger future and take the stress out of your superannuation. Read more
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Accountants Super is a division of Professional Associations Super, an industry fund with over 445,000 members across Australia and over $1.5 billion of funds under management. Professional Associations Super divisions include SMARTpension, Australian Enterprise Super, and RecruitmentSuper
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This information is of a general nature only and does not take into account your personal objectives, situation or needs. Before making a decision about Accountants Super, you should consider your own requirements and the relevant Product Disclosure Statement. Contact us for a copy.