What Our Clients Are Saying
UK Pension Solutions
Solutions For
Under or Over age 55
Australian Tax Residents
Defined Benefit Pensions
Defined Contribution Pensions
Existing QROPS or SIPP holders
Key Benefits
Access from age 55
Current high transfer values
Pass 100% on to beneficiaries
Flexible investments and income
Eliminate exchange rate risk
Pay less income tax
Why Monarch
UK Pension experts
Regulated Financial Advice
Personal guidance throughout
Tailored solutions
Ongoing support and advice
UK Pension Transfers
Most individuals who have worked in the United Kingdom at some point in their career will have built up a personal or employer pension that remains in the UK. The values of these pensions may have grown significantly, however the pension plans are usually no longer appropriate as a non-UK resident nor provide the best retirement planning and wealth creation opportunities.
Recent changes to UK regulations have allowed non-UK residents to transfer and consolidate their retirement savings to a more appropriate, low cost structure which allows more flexible investment choices to create wealth.
Some of the key benefits to transferring your UK pension are:
- Capitalise on current historically high cash transfer values
- Access your pension at age 55
- Pass 100% of your pension to your beneficiaries
- Pay less income tax
- Eliminate the risk of UK final salary schemes becoming insolvent
- Flexibility of investments and income draw-down
- Eliminate exchange rate risk
- Consolidation of pensions to one easy to manage scheme
At Monarch Wealth, we specialise in advising Australian residents on various cross border affairs, including accessing their UK pensions now they are living in Australia. We are able to assist clients in locating their UK pension(s) and obtaining current valuations on their behalf, free of charge and obligation.
Obtaining up to date information on pension plan values and rules allows us to analyse a client’s global assets and offer more informed retirement planning options that may be available to them.
Essentially, there are three options available to you in respect of your pension assets left behind in the UK:
- Do nothing and leave the pension funds in the UK
- Transfer to a Self Invested Personal Pension (SIPP) – click
- Transfer to an HMRC Recognised Overseas Pension Scheme (ROPS) – click
*Please note that UK state pension benefits cannot be transferred.
It is highly recommended that before making any decision on transferring a pension, you should speak to a registered financial adviser who is aware of both the UK and Australian pension and tax regulations. As a financial adviser regulated by ASIC, we are bound to act in our client’s best interests. Therefore, you can be assured you will receive a professional and objective analysis of your finances and opportunities available to you.
The information above is general advice and does not take account of investors’ objectives, financial situation or needs. Before acting on this general advice, investors should consider the appropriateness of the advice having regard to their objectives, financial situation or needs.
Free Consultation
If you have a UK Pension and would like to know more about the options available to you, contact us for a free pension consultation with a registered adviser. During the consultation, we can provide you with advice that will:
- Highlight all the options available to you
- Guide you through the cost/benefit of transferring your pension
- Identify whether a SIPP or ROPS may be suitable for you
- Provide you with a second opinion about any advice you have received previously
This is a free service and at no time are you under any obligation to proceed with any advice. We are also able to locate your existing UK Pensions on your behalf and request an up to date valuation.
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