A Transition to Retirement strategy allows people who are still in the workforce to access their super (in the form of an income stream) once they reach their preservation age.
This strategy provides an opportunity to increase retirement savings before ceasing work. If you are aged between 55 and 65, accessing your super via transition to retirement pension provides the following options:
Sterling Planners can assist you with structuring a transition to retirement pension as part of your financial strategy.
Gary, aged 55, earns $110,000 a year. Wants to retire at 65 and has a current superannuation balance of $450,000. By commencing a transition pension, Gary can supplement his income, whilst sacrificing a substantial pre-tax amount of his income into superannuation. The result is an additional $62,000 in his superannuation fund at age 65.
Below is a video of Sue Gleave, a client with Sterling Planners for over 10 years , speaking about her transition to retirement experience.
October 2017: Sun-Herald, Money Article - 'Thousands of Aussies caught in tougher rules to transfer British pensions'. Laura McGeoch explains how UK legislative changes implemented in April 2015 have resulted in thousands of Australian… Read More.
November 2017 Update. The November HMRC ROPS list contained 515 Australian funds, the majority of which are individual SMSFs. New QROPS regulations, effective 9 March 2017, imposed a 25% tax charge on UK pension transfers to offshore… Read More.
May 2017 Update - From 1 July 2017, clients who are close to or have already reached their total Australian super fund balance of $1.6M, may have viable options to transfer additional UK pension funds to their Australian (complying… Read More.
Effective from 9 March 2017, transfers to offshore schemes (such as NZ, Malta, Gibraltar, Guernsey etc) will now be subject to a 25% HMRC tax charge unless both the individual and the QROPS reside in the same country. As predicted… Read More.
As predicted, some UK DB (Defined Benefit) Schemes have recently issued CETVs (Cash Equivalent Transfer Values) with reduced values from late 2016. If you have a UK Defined Benefit (Final Salary) Scheme, it is prudent to seek expert… Read More.
An article by James Phillips in Professional Pensions highlights that growing speculation over a ban on UK (DB) Defined Benefit Scheme transfers could lead to a rush on members requesting early transfers. Sterling Planners have witnessed… Read More.
Breaking News - Effective from 9 March 2017, legislation will be introduced in Finance Bill 2017 such that transfers to QROPS requested on or after 9 March 2017 will be taxed at a rate of 25% unless both the individual and the QROPS… Read More.
Getting expert QROPS advice could potentially save you thousands on a UK pension transfer - click here to see how. If you decide to transfer a UK pension without seeking specialist QROPS advice (eg with assistance from your accountant… Read More.
Important News for Large Transfer Values - If the combined values of all your UK pensions (including past benefit crystallisation events such as transferring to QROPS and income drawdown) as at 5 April 2014 was greater than £1.25 million… Read More.
An opportunity exists prior to 1 July 2017 for some UK Pension Transfers given the recent Australian Super Changes. On 15 September 2016 the Government announced some significant changes to the superannuation proposals previously… Read More.
2017 UK DB (Defined Benefit/Final Salary) Scheme Update - some CETVs begin to decline: Two recent developments have caused a surge in transfer requests for UK DB schemes: The long predicted decline in CETVs (Cash Equivalent Transfer… Read More.
Nic Blakemore, Sterling Planners Director, talks about our Sterling Investment Options in this video: FOR CLIENTS CONCERNED WITH FLUCTUATING EXCHANGE RATES - retain and invest your UK Pension Transfer in GBP/Sterling (if you are… Read More.
Sterling Planners Investment Update for Q4 2016 - Did Trump trump Brexit? - click here for more details Read More.
July 5 2016. For UK Pension Transfers to Australian QROPS, made between 6 April 2015 to 30 June 2015 (inclusive), HMRC has confirmed such transfers WILL NOT be subject to any UK tax charges in relation to the transfer. For transfers… Read More.
Transfer Values for Defined Benefit / Final Salary Schemes are at all-time highs given that UK interest rates are at historical lows. Evidence suggests these values are likely to decline if/when interest rates rise. For members under… Read More.
Former Management Consultant (from a Top Tier Accounting firm), David Gooding, describes why he wanted specialist QROPS advice for his own UK Large Transfer Value (i.e. a lump sum value greater than the current Non-concessional Contribution… Read More.
Getting expert QROPS advice could potentially save you thousands of $$$ on your transfer - click here to see how. If you decide to transfer a UK pension without seeking specialist QROPS advice (or with assistance from your accountant… Read More.
On 6 April 2015, UK legislation effectively banned QROPS transfers to Australia for members aged under 55yrs of age in addition to transfers of Unfunded Public Sector Schemes (such as NHS, Teachers, Civil Service, Police, Firefighters… Read More.
Fortnum Practice of the Year Award - 2015 Ray Miles, Executive Chairman of Fortnum Financial Group Ltd, presents Brent Hutton, owner and founder of Sterling Planners Pty Ltd with the highly coveted Practice of the Year Award for 2015. It… Read More.
Sterling Planners Investment Update for Q2 2015 - Iron Now Cheaper than Cabbage - click here for more details Read More.
An academic study conducted by researchers at Brisbane's Griffith University has argued the case for professional financial planning. Griffith Business School senior lecturer Rakesh Gupta, believes that " there needs to be a change… Read More.
For a summary of Sterling Planners' 2014/15 End of Financial Year Strategies for Superannuation - click here. Read More.
Britons are retiring in Australia in ever increasing numbers. In March 2015, Money Management Magazine published an article titled " Britons looking towards Australia for retirement ". A large cohort of British baby boomers are looking… Read More.
Sterling Planners Investment Update for Q1 2015 - Strange Days - click here for more details Read More.
In April 2015, the ATO made a new interpretive ruling, 'clarifying' how growth and any potential taxes on UK pension transfers are to be calculated (differing from previous ATO private rulings on this matter). The previous ruling… Read More.
NEWS FLASH: Pension Transfers from UK (unfunded) Public Sector Pension Schemes will cease from 6 April 2015 [including MyCSP, NHS, Police, Firefighters, Teachers, Armed Forces, SPPA (Scottish Public Pensions Agency - both Scottish… Read More.
Sterling Planners Investment Update for Q4 2014 - Where to from here - click here for more details Read More.
End of Financial Year Strategies: If you are between 55 and 65 years of age - click here If you are Employed - click hereIf you are Self Employed or living off investments - click hereIf you are thinking of boosting your Partners… Read More.
Sterling Planners Investment Update - May 2014 - Looking Forward For a summary of our commentary on the overall financial marketplace and our investment strategy overview - click here. Read More.
The Australian Tax Office (ATO) is urging all taxpayers with offshore assets to declare their interests, ahead of a global crackdown on undeclared international income and tax havens. The ATO's voluntary disclosure initiative, 'Project… Read More.
Sterling Planners Investment Update for February 2013 - click here for PDF document Read More.
Are you resident in Australia with property in the UK? If so, proposed changes to the UK capital gains tax, effective April 2015, may impact your financial situation. If you are living in Australia but still have property in the UK,… Read More.
Investment Update - The markets are somewhat like the Australian Cricket Team - good in parts, average in parts and bad in parts. Click here for summary. Read More.
With the end of the 2012-13 financial year just around the corner, Sterling Planners have summarised everything you need to consider regarding your superannuation - including Government co-contribution, spouse super contributions,concessional… Read More.
QROPS Guidance - On April 6 2012, new regulations were introduced in the UK, changing the reporting requirements of a Qualifying Recognised Overseas Pension Scheme ('QROPS'). Her Majesty's Revenue and Customs (HMRC) made a decision… Read More.
In November 2012, a cheque for $20,000 was presented to Nick Evans, RPA Newborn Care - Head of Department, byJulie Hutton from Sterling Planners (far right of photo) and Margaret Miles from the Fortnum Foundation 1000 Club. Sterling… Read More.
Sterling Planners Investment Update for 2012 - Signs of Life - click here for more details Read More.
Sterling Planners have created a summary of financial strategies for your consideration as we approach the end of the 2011/12 financial year. These strategies include information regarding Salary Sacrifice, Contributions Splitting,… Read More.
Effective May 4th 2012, our company trading name changed from PTD Financial Services Pty Ltd to Sterling Planners Pty Ltd. Our principal director, Brent Hutton established the Pension Transfers Direct (PTD) business in Perth, WA in… Read More.
Our previous 3 YEAR FINANCIAL VIEW was issued to all existing clients, effective from November 2011. Please find an updated version of this document effective from April 2012. Click Here to view the document. Read More.
Here at Sterling Planners Pty Ltd we believe strongly in supporting our community and giving back in a meaningful and significant way. These are the charities and organisations that we currently support. Read More.
Sterling Planners Three Year Financial Outlook Read More.
Sterling Planners Pty Ltd (AFSL Number 357306) and its advisers are members of Fortnum Financial Advisers and Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306 | Level 9, 75 Miller Street, North Sydney NSW 2060. | PO Box 1238, North Sydney NSW 2059
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