Overseas Pensions

Financial Framework offers quality financial advice for expats – both those living in Australia, and Australians living or travelling abroad.

This includes tax advice and advice on pensions. If you are an expat currently living in Australia, Financial Framework can help you to transfer your pension to Australia. If you are an Australian citizen who is currently living or travelling overseas, we can advise you on how your Australian pension will be affected, and how you can claim while abroad.

UK pension to Australia made easy

If you are a UK expat living in Australia, and your UK pension has a value of at least £50,000, you are most likely eligible to transfer your UK pension to Australia. Getting your pension out of the UK will improve your tax position and give you greater options to grow your wealth.

Your Financial Framework adviser will explain QROPS (Qualifying Recognised Overseas Pension Scheme) and everything you need to know. The process of transferring a pension can be time-consuming and a little overwhelming. We can help you and guide you through the process. Every aspect will be explained to you – such as means testing and other requirements you will need to meet.

Receiving your Australian pension while living or travelling abroad

If you are living or travelling overseas (or are about to be) talk to us about your Australian pension. Your pension will be an important layer of your financial framework in retirement, so you will benefit from long-term planning – even if you are a long way from retirement. You'll be able to enjoy your time overseas knowing your future finances are secure.

How do you know if you qualify for transferring your pension? The Australian government Department of Human Services explains:

"Under an international social security agreement, each country generally contributes an amount to your retirement income. For most countries this is measured by the period for which you have contributed to that country's social security scheme. For Australia, it’s based on your residence in Australia and your income and assets.

Australia has social security agreements with many countries.

If you:

  • have lived in Australia but now live in an agreement country, you can still claim an Australian pension, or
  • have previously worked in an agreement country and have since moved to Australia, you can claim an Australian pension even if you haven't lived here long enough to qualify under Australian laws"

source: https://www.humanservices.gov.au/customer/services/centrelink/international-services