Many clients will cite the Australian tax advantages as a major reason to transfer, whilst some clients may procrastinate transferring waiting for the exchange rate to improve.

However from experience, the most important variable at play regarding UK Pensions is the Estate Planning.

Many Brits are unaware of the severe Estate Planning limitations of the UK pension system.

Once you commence an annuity in the UK system; in most cases upon death, a legally married spouse is usually entitled to only 50% of the pre-death pension.

And thereafter upon the death of the spouse; in most cases all benefits are lost, leaving nothing for children or other beneficiaries – with any outstanding balance consolidated within the pension fund.

The situation may be worse for single pension holders who may lose 100% of their capital upon the first death.

In Australian, upon the event of your death, superannuation pays out 100% of your money tax-free to your nominated spouse or tax dependents.

In Estate Planning terms, the UK Pension system & Australian Superannuation are vastly different – where the Australian regime recognises that it is your money, where you and your subsequent beneficiaries retain control and access to the capital.