Guest ricknbeck

Financial advice

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    Guest ricknbeck

    HELP!! Does anyone know of any financial advice people who will come and see us and give us advice about pensions, bank accounts, tax and the like? It's hard to know who to trust, but I just can't get my head around it all... I know Prism Xpat are meant to be ok, but they will only meet with us in Central London, and we just can't get there on the days they have suggested. :confused:

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    Guest ade&emma

    we went with HALO FINANCIAL who are really good. they sort everything out for you and dont actually charge you anything. they get commision from the banks and stuff. speak to allistar sweetman if you do use them, he was really helpful and can get you the best deals when you transfer money. good luck with everything.

     

    emma and ade.

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    If you have a Final Salary Pension, I would suggest that you consider waiting until you have been living in Australia for a bit and found your feet and have a feeling for the place.

     

    Yes there is a 6 month tax free timeline to transfer Pension's but as mentioned many times before on here, the tax implications really are not be as onerous as some make out.

     

    It is more important understanding whether the transfer is the right thing to do. Remember you cannot transfer your Pension back to the UK once you transfer it over here (unless you are on certain temp visa's).

     

    If you have a final salary scheme and transfer it out it will go into an accumulation style Superannuation (Pension) fund here and you lose your guaranteed Final Salary Pension for good.

     

    This is not to say that there are not benefits of transferring your Pension in fact the Australian system have some very good advantages of having your Pension money held here but as I say I would get a feel for Australia first.

     

    Ade & Emma you mentioned not being charged because commissions are paid by the Banks. You should have been made aware by your Advisor that these commissions come out of your Pension money, so you are being charged.

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