Q: What kind of pension can I transfer abroad?
A: Generally speaking, you can transfer most company pensions and private pensions abroad but not the state pension. If you are transferring your pension to Australia, the receiving fund must be a Qualifying Recognised Overseas Pension Scheme (QROPS).
Q: How old do I have to be to transfer my pension abroad?
A: You must be 55 or over.
Q: Can I transfer all of my pension in one go to Australia?
A: It depends on the size of your pension pot. Australia has an annual limit of $100,000 of non-concessional contributions.
Q: Are your advisers licensed in the Eire, the UK and Australia?
A. Yes. We have dual jurisdiction licensed advisers who are licensed in two of Eire, the UK or Australia.
Q: Should I leave some funds in the UK/Eire?
A: When we talk to clients about pension transfers we discuss how much, if any, of their assets they should leave behind. Things like currency rates, flexibility or liquidity can have an impact on this decision. You also have to remember that, once you are no longer a resident, your tax situation is very different.
Q: What is FEIFA?
A: FEIFA is the Federation of European Independent financial advisers, which is the largest trade association for cross border financial planners in the world. Imperius Wealth’s Jason O’Connell is a founding and current board member of the organization.