If you have ever worked or lived in the UK, there is a good chance that you have accumulated an entitlement to a UK Pension. A UK Pension may provide you with a significant enhancement to your retirement lifestyle! Your entitlement to the UK Pension may be a State Pension or a Private Pension.
UK State Pension
The UK State Pension is based on the number of contributing years to the British National Insurance Scheme.
UK Private Pension
UK Private Pensions are pension schemes established by UK employers and have often been accumulating retirement funds for years. A UK Private Pension can represent a significant asset for your retirement plans.
UK Pensions can be complex as they involve both UK and Australian tax laws and other legislation. Eligibility to the State Pension and transferring accumulated Private Pensions involve a number of factors specific to individual circumstances.
A Wealthwise adviser can assist you to determine if you have a UK State Pension entitlement (or even increase your entitlement) and can also assist you to transfer your accumulated UK Private Pension to Australia.