I am an Australian citizen and have been living in Switzerland for 7 years. I have decided to inquire about transferring my Australian Superannuation fund to an account in Switzerland. Can someone provide any information if this is allowed.
Hi @Rickstar45,
No, you can't transfer your Australian super to a Swiss account because you're an Australian citizen. The departing Australia superannuation payment (DASP) is only available to former temporary residents of Australia who have left the country after their visa has ceased to be in effect.
You can access your super when you reach preservation age and retire, or under specific early release conditions such as severe financial hardship or certain medical conditions. The preservation age is between 55 and 60 years, depending on your date of birth.
You can contact your super fund directly to discuss your options for managing your super while living abroad. They can advise you on how to keep track of your account and what happens to your super while you're overseas.
@JayATO are there any fee or penalties for australia citizens abroad who hold super in Australia? Does it just sit there until preservation age? I see that SMSF get a 45% penalty if you move over seas. Does this apply or similar fees to a retail or APRA registered fund?
Hi @rhys11
There aren't any penalties but you may receive account keeping fees from your super fund. It's worth shopping around and finding a fun with lower account fees to protect your super.
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