UK Pension Transfer - Leave Your Funds in the UK

If you leave your pension funds in the UK:

• You will have restricted access to your pension fund at retirement;
• You will pay income tax on your pension in retirement;
• You may have to pay income tax on the annual growth of your fund each year until your retirement;
• The amount of income you receive in Australia will be affected by exchange rate fluctuations;
• You may have to pay bank charges to transfer your pension to Australia;
• Your spouse and dependants may be entitled to a reduced income on your death, but may not be provided for atall.