Testimonials

Nick G, 64

I moved to Australia in 1984 when I was 42 after having worked for 19 years in the UK as a Journalist for Express Newspapers. My Executive Pension Plan was going to deliver me approximately GBP 21,000 (or A$41,500) net of tax each year until I died. Of concern to me however was that it would only deliver my wife a fraction of this amount if I died at an early age, placing an enormous burden on my wife and family. After all it was my entitlement, wasn’t it?

Before I retired approx 2 years ago I met with the people from PTD, and while I was initially very sceptical I got the surprise of my life when PTD were able to determine that the total capital value of my pension was almost $700,000. This amount was more than double what I though it would be as my fund only ever gave me information on my yearly entitlements.

Having such a large sum as the base investment I decided after consultation with PTD to transfer it to Australia, primarily as a way of preserving the fund for my wife and family. Having total control over this investment has given us great peace of mind and the independence that comes with being able to self fund our retirement. Now I have the choice of taking a much larger pension each year than I would have been given, or if I stick to the same amount as my UK fund was set to pay I will still have 40% of my total capital when I’m 90. And even if I’m not here this amount is available for my wife and family.

Without doubt meeting PTD was one of the best things that has happened to me in the last 20 years. As a direct result of PTD we have been able to change the way we live in retirement, plus leave something for our grandkids.

Phil (52) and Debra (35)

My UK employer recently offered us the opportunity to relocate to Australia after working for them for 8 years. Having made the decision to settle permanently in Australia we wanted to consolidate all our finances to make it easier to plan for and manage our retirement. We cashed in many of our UK investments before we left the UK and once we arrived in Australia we quickly sought out someone who could help us with moving our pension funds. We were pointed in the direction of PTD who were able to determine that the capital value of our employer pension funds were $162,183 and my wife’s $102,084. Their comprehensive report also confirmed the pensions we each would have received after tax would have been $17,526 per annum for me at age 65 and $22,922 for my wife at age 60.

PTD calculated that transferring our funds promptly would minimise any tax that was payable and forecast the potential to provide a higher pension amount than we would have gotten from the UK. Now we have all of our finances managed out of Australia and have greater control over the cash we need for our retirement. For instance, getting the capital amount of our UK pensions into the Australian Super system even at very modest growth projections we forecast we will be able to draw retirement pensions roughly double what we would have gotten from our UK funds.

IMPORTANT: This information has been prepared without taking into account your objectives, financial situation or needs. Before acting seek professional advice. Things you should know. © Pension Transfers Direct (PTD). PTD is a Corporate Authorised Representative of Genesys Wealth Advisers AFSL No. 232686.