A guide to UK pension transfers involving SMSFs
UK pensions specialist Jason O’Connell outlines important advice considerations with the transfer of UK pensions to SMSFs and the steps involved in the process.
Jason, who is the general manager of UK pension planning at Shartru Wealth, delves into what requirements the SMSF must meet in order to be recognised as a qualifying recognised overseas pension scheme (QROPS) to ensure a compliant transfer of the pension.
He explores the differences between the two pension systems and highlights important considerations, including age and investment strategy restrictions and some of the ongoing reporting requirements.
He also discusses whether an existing SMSF can be used for the transfer by updating the trust deed and whether there needs to be segmentation between the UK and Australian money.
