Very few counties recognise Australian super funds as a retirement savings vehicle. The UK is one of the few. They have VERY STRICT rules for allow UK retirement pension benefits to be transferred to any type of super fund incl a SMSF. Important to act VERY quickly as time runs out the deal shuts.
The issue that needs to be addressed is "is it worth the effort"?
- SMSF can invest in property but strict rules limit gearing which may limit a small fund to non-property;
- Complexity in admin and managing a SMSF v's costs. Will it be a futile exercise ?
- Preservation
- Strategies based on tax position, age, residency and many other issues.
The funds transferred will be preserved and cant be released until a condition of release occurs. Going back o/seas isnt a condition !! This might be a poor choice as your $$ can be trapped. The whole aspect of establishing a SMSF should really be supported by personal financial advice as a SMSF is a financial product decison. Only a AFSL licensed adviser should give such advice that considers your needs, cirumstances, costs and benefits. Many accountants are not qualified to give financial advice (They need an AFSL) - Australian Financial Services License, and are actually prohibited from recommending a SMSF. Also be wary of spruikers seeking to do a SMSF and sell property !