It is a fair question. You have worked hard and built a substantial pension in the UK. Now that you are living in Australia, your focus is naturally on the Australian retirement system. When it comes to transferring your UK pension into an Australian superannuation fund (QROPS), the complexities span two jurisdictions. The risks of overlooking key details can be significant.

Two Systems, One Decision

Transferring a UK pension into Australian super is not just a paperwork exercise. It requires a deep understanding of both the UK and Australian pension systems, because:

• You are subject to UK pension rules, including tax residency, the overseas transfer charge, and investment restrictions
• You must also navigate Australian superannuation laws, including contribution limits, total super balance thresholds, transfer balance caps, and tax implications

If your adviser lacks in-depth knowledge of both systems, important aspects can be missed. These gaps can lead to costly and irreversible mistakes.

What Can Go Wrong Without the Right Expertise?

Here are a few examples of what can go wrong when advice does not fully consider both UK and Australian pension rules:

• Unexpected UK tax charges, particularly if your UK tax residency or the overseas transfer charge is misunderstood
• Loss of valuable benefits, such as protected tax-free lump sums or guaranteed future bonuses
• Superannuation contribution breaches, which can trigger tax penalties, or restrict preferable strategic options
• Double taxation risk, due to being unaware of the treatment of lump sums under the UK and Australia tax treaty

These are not minor administrative oversights. They are real risks that can have lasting consequences for your retirement.

Regulatory collaboration is often limited to what’s legally required, not what’s best for the client.

Holistic advice demands not just technical competence, but the right cross-jurisdictional qualifications and experience.

That’s why you should insist on UK-qualified expertise for UK pension transfers. When it comes to your retirement savings, near enough is not good enough.

What to Look For in an Adviser

To ensure every angle is properly covered, look for an adviser who:

• Holds UK Chartered or Certified Financial Planner status, demonstrating deep expertise in the UK pension landscape. Ask to see their certificate!
• Is fully qualified and licensed in Australia, with a strong understanding of local superannuation laws and tax strategies. Look up the ASIC register: https://moneysmart.gov.au/financial-advice/financial-advisers-register
• Has genuine experience advising on UK pension transfers from within the UK system, not only from an Australian perspective. Ask to see their UK CII Diploma in Financial Planning
• Understands how UK pension rules interact with Australian retirement laws, especially regarding QROPS, transfer balance caps, and the overseas transfer allowance

Final Thought

When it comes to your retirement savings, the stakes are high. You deserve advice that reflects a thorough understanding of both systems and avoids surface-level assumptions.

Choose an adviser who is qualified in both the UK and Australia, experienced in cross-border pension advice, and committed to delivering the right outcome for your future.