Australian Financial Planners

UK Pension Transfers to Australia – the service

For Australian financial planners with clients holding UK pensions, bdhSterling can provide an advice proposition enhancing the service that you provide to your client.

UK pension transfers to Australia can be complicated and the benefits of working with bdhSterling through this complex area are:

  • Eliminating Australian adviser/accountant compliance issues where incorrect advice can lead to heavy penalties and tax charges for the client.
  • A value added service that can be offered to the adviser/accountant client base.
  • Adviser/Accountant, retains ownership of client.
  • Free technical phone advice for client pension transfer enquiries.
  • Strategies for clients under 55 and over 55 years of age and Australians who have worked in the UK.
  • Minimise currency issues by investing in GBP or AUD.
  • Client’s best interest to review UK Defined Benefit and Final Salary Pension with appropriate defined benefit rights advice provided under our UK FCA (Financial Conduct Authority) license.
  • No third party advisers contracted in the UK. All UK pension transfers are conducted under the one global roof.

UK Pension Transfers to Australia – How we work with you

The following flowchart demonstrates the service that we can provide for you.

 

process1

process1

Qualify your client

Contact our technical team for an
initial fact find discussion.

process1

process2

process2

Compliance documents

You complete a Fact Find
& compliance documents.

process2

Optional Service

PTAR Presentation
No extra fees

process3

process3

Cash equivalent transfer value

We write to each pension scheme for a CETV.
Values are presented prior to the production
of UK advice.

process3

process4

process4

Pension Transfer Analysis report

We prepare a compliant PTAR in the UK with full
transfer recommendations, where appropriate.

process4

process5

process5

Discharge documents

We issue discharge documents allowing a transfer
out of the pension scheme & into a UK-based
SIPP account, in order to facilitate partial transfers
within the Australian contribution limits.

process5

Optional Service

UK Fund Management
until your client qualifies
for transfer to Australia.
Fees apply.

process4

process4

Transfer out of the scheme

We arrange transfer from pension
scheme to UK-based SIPP account.
Transfer fees are deducted at this point.

process4

Optional Service

SMSF Service Package
Establish QROPS SMSF
Ongoing SMSF admin,
QROPS reporting &
accounting services.

process5

process5

Client under age 55

You can instruct us to invest client funds
according to risk profile, including investing
in GPB and/or AUD currencies.

process5

process4

process4

Client over age 55

We arrange transfer of funds to Australia
according to the accepted recommendations.

process4

SMSF Initial advice and ongoing advice

You continue to provide your client with ongoing investment
and strategic advice, including the newly transferred funds.

For more information please contact one of our advisers here.