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Pension Transfer FAQ

You may have a number of questions that we can answer more fully when you contact us, but below are some answers to Frequently Asked Questions.

How long does the transfer process take?

Each pension transfer is treated differently as each individual has different circumstances. The rule of thumb is that a normal transfer will take between 3 to 8 months. The most common delay is the time it takes the UK pension provider to arrange transfer papers and confirm transfer figures.  We will liaise with you throughout the process to keep you informed of the progress.

Do I have a choice on how my money gets invested?

Yes. We have a selection of QROPS  providers who are able to accept your transfer. Within the superannuation fund we set up for you there will be a range of fund options that include: Cash, Moderately Defensive, Balanced, Growth, and High Growth multi-manager funds as well as Australian and International Equities, Property and Fixed Interest Funds, the list goes on. You can decide how your pension transfer is invested.

How do I find out what my investment balance is?

If you ring us at Pension Transfers Australia we can advise you of your account balance as of the day you phone us.. We can arrange online access to your superannuation account so you can get a balance 24/7, and you will also be provided with an annual statement from the fund manager.

If I'm not happy with my investment returns over a certain period of time can I change my investments around?

Yes., We offer an ongoing review service which is designed to keep you up to date with your investments. If you are not happy with the performance we can change your investment allocation to suit your needs.

Does my pension transfer convert to Australian Dollars once it arrives?

Yes.  Once the funds are received by the Australian superannuation fund, it will be converted to AUD at the rate on the day it is received.

Can I make regular contributions towards my pension transfer?

Yes. This  may be appropriate as this goes towards your retirement savings.

All employees in Australia are entitled to receive a minimum of 9% of their salary contributed to their superannuation account by their employers.

The fund we establish for you will accept both employer and employee contributions.

What about the new QROPS law changes, will this affect me?

Pension Transfers Australia Pty Ltd have arrangements in place with Qualifying Recognised Overseas Pension Schemes in Australia to receive your pension funds, which means that you won't lose up to 55% of your fund in tax by using our services. The QROPS we use can accept your full transfer value. For more information about the QROPS rules please refer to http://www.hmrc.gov.uk/pensionschemes/faqs.htm#general

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