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UK pension transfers: part 1
Published on 01 Oct 22 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
Many Australians have substantial pension benefits in overseas jurisdictions as a result of the ease with which people, who may have been born overseas, were (and once again are) able to travel and obtain work in Australia. This is particularly the case with respect to United Kingdom expatriates. The value of some of these pension accounts has been quite high when compared to an ongoing pension entitlement (for defined benefit schemes), or where the money has been invested over a period of time. With the attractiveness of now retiring in Australia, it is desirable to transfer these funds to Australia. However, there are some complex
interactions between the two jurisdictions to be aware of to ensure that taxpayers do not inadvertently pay tax at prohibitive rates in one or both of the jurisdictions.
Author profile
Jemma Sanderson CTA
Jemma Sanderson, CTA, is a Director of Cooper Partners Financial Services, heading up their SMSF specialist services. Jemma provides strategic advice on SMSFs, estate planning and wealth management to clients, as well as technical support and consultancy to accounting, legal and financial planning groups. Jemma has over 20 years’ experience and is a regular presenter on superannuation and SMSFs for the professional bodies across the country, and is the author of The Tax Institute’s popular publication for SMSF Advisers, the SMSF Guide, in its ninth edition. Jemma received a TTI Community Service Award in 2024 for her contribution to the industry. - Current at 07 August 2025
The Tax Institute is Australia's leading professional association and educator in tax providing the best resources, professional development and networks.