Superannuation & Moving Overseas

[Catfish Alley]

Hi all. I'm hoping somebody can help me with some information. Does anybody know what happens to your superannuation if you move overseas permanently? Will it just dwindle down to nothing through fees or is there a way to transfer it?

 

[utility]

Hi all. I'm hoping somebody can help me with some information. Does anybody know what happens to your superannuation if you move overseas permanently? Will it just dwindle down to nothing through fees or is there a way to transfer it?

To be honest I have no idea but I asked my old man once (who has worked in superannuation). He basically said you can transfer to an equivalent overseas fund if you could prove you were genuinely relocating, but otherwise you couldn't. The rules may have changed.

I'd be interested to know.

 

[Catfish Alley]

Thanks for that. I'll have to give my super company a call. Perhaps I could keep using the same fund and just transfer money into it from my overseas job. If I find out I'll post it here.

 

[Astro_]

Australian superannuation funds cannot be rolled offshore – you can only withdraw the funds, not transfer them. Only departure of an eligible temporary resident is a condition of release.

Unfortunately you would need to wait until you meet an ordinary condition of release in order to access your super, such as permanent retirement upon reaching preservation age.

 

[utility]

Unfortunately you would need to wait until you meet an ordinary condition of release in order to access your super, such as permanent retirement upon reaching preservation age.

That sucks.