"A" Day Changes

The seperate rules for occupational, personal pension & retirement annuity schemes have been replaced from 6 April 2006 by a single scheme covering all tax-priviledged pension schemes.

With effect from 6 April 2006, changes to the UK law regarding pension transfers from the UK to Australia came into effect.

The effect of these changes is to ensure that the Australian Superannuation Scheme capable of accepting UK pension transfers has to obtain QROPS status (Qualified Recognised Overseas Pension Scheme).