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Withdraw super after leaving Australia

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Hello, 

 

My wife is an Australian citizen (born there, raised there, has the Aussie passport). She has moved to the UK permanently. She is currently on a long term UK spouse visa (which will lead to permanent leave to remain in the UK and ultimately British citizenship). She has a super in Australia. Is she able to withdraw the super funds (as she has left Australia) either as a lump sum or to transfer them to a UK pension fund?

 

Regards

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ATO Certified Response

ATO Community Support

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Hi @Icrawf,

 

There are very limited circumstances in which super can be accessed, and even though she's left Australia, the same rules apply and she would need to meet one the conditions of release.

 

Super can be withdrawn:
• when you turn 65 (even if you haven’t retired)
• when you reach preservation age and retire, or
• under the transition to retirement rules, while continuing to work.

 

Outside of the above circumstances, early access to super may be granted in situations such as:
• Compassionate grounds
• Severe financial hardship
• Terminal medical condition
• Temporary or permanent incapacity
• Super of less than $200
• First Home Super Saver Scheme (FHSSS)

 

She would not fit the criteria to apply for a Departing Australia Superannuation Payment (DASP), as this is only applies to individuals who have entered Australia on an eligible temporary resident visa. Australian citizens or permanent residents leaving Australia cannot access superannuation through a DASP.

 

Unfortunately Australian super funds aren't able to transfer super benefits across to foreign super funds, other than New Zealand. Rollovers can only take place between one Australian complying super fund to another Australian complying super fund.

 

So in this instance, your wife would need to meet one of the conditions of release that I've outlined above. I've provided links to more information below, as well as another post on the forum that discusses a similar question, so hopefully this is useful.

 

ATO website- Australians living overseas

ATO website- Withdrawing and using your super | Australian Taxation Office (ato.gov.au)

ATO website- Early access to you super

ATO website- Income Tax Assessment Act 1997 (section 295-95)

ATO website- Income Tax Assessment Act 1197 (section 306-10)

Forum Post- Renounce Australian citizenship how to get back superannuation fund?

 

RachATO

1 REPLY 1

Most helpful response

ATO Certified Response

ATO Community Support

Replies 0

Hi @Icrawf,

 

There are very limited circumstances in which super can be accessed, and even though she's left Australia, the same rules apply and she would need to meet one the conditions of release.

 

Super can be withdrawn:
• when you turn 65 (even if you haven’t retired)
• when you reach preservation age and retire, or
• under the transition to retirement rules, while continuing to work.

 

Outside of the above circumstances, early access to super may be granted in situations such as:
• Compassionate grounds
• Severe financial hardship
• Terminal medical condition
• Temporary or permanent incapacity
• Super of less than $200
• First Home Super Saver Scheme (FHSSS)

 

She would not fit the criteria to apply for a Departing Australia Superannuation Payment (DASP), as this is only applies to individuals who have entered Australia on an eligible temporary resident visa. Australian citizens or permanent residents leaving Australia cannot access superannuation through a DASP.

 

Unfortunately Australian super funds aren't able to transfer super benefits across to foreign super funds, other than New Zealand. Rollovers can only take place between one Australian complying super fund to another Australian complying super fund.

 

So in this instance, your wife would need to meet one of the conditions of release that I've outlined above. I've provided links to more information below, as well as another post on the forum that discusses a similar question, so hopefully this is useful.

 

ATO website- Australians living overseas

ATO website- Withdrawing and using your super | Australian Taxation Office (ato.gov.au)

ATO website- Early access to you super

ATO website- Income Tax Assessment Act 1997 (section 295-95)

ATO website- Income Tax Assessment Act 1197 (section 306-10)

Forum Post- Renounce Australian citizenship how to get back superannuation fund?

 

RachATO