AESF and the Tidswell Master Superannuation Plan
The Tidswell Master Superannuation Plan can be found on HMRC’s list of Recognised Overseas Pension Schemes. HMRC will usually pursue any UK tax charges (and interest for late payment) arising from transfers to overseas entities that don’t meet the ROPS requirements, even if they appear on this list. This includes where the ROPS requirements have changed and where taxpayers are overseas. If you want to transfer your UK pension benefits to Australian Superannuation, you should ensure that the receiving scheme is a QROPS, otherwise there will be large tax penalties to pay by both the pension member and scheme.
The Australian Expatriate Superannuation Fund (AESF) is a subdivision of the Tidswell Master Superannuation Plan. The Tidswell Master Superannuation Plan is a public offer complying superannuation fund, registered and regulated by the Australian Prudential Regulatory Authority. You can find details on this link. The AESF, which is promoted by IVCM, is the only division of the Tidswell Master Superannuation Plan that will allow transfers from UK pension schemes and therefore has QROPS status.
IVCM (Aust) Pty Ltd is the promoter of the AESF. IVCM offers a range of market-leading international retirement planning solutions, including SIPP, QROPS and Superannuation funds, as well as specialising in third party distribution, outsourced administration and support services to our Trustee partners across the globe. We have a wealth of technical knowledge and pension experience, all geared towards providing the best service and products to advisers and consumers.
The trustee of the Tidswell Master Superannuation Plan is Diversa Trustees Ltd.
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This article does not contain personal or financial advice. It is provided for general information only and does not take into account your personal objectives, financial situation or needs. IVCM is not authorized to provide you with any personal or financial advice.
If you require financial any advice then you must make sure that you obtain advice from a suitably qualified financial adviser.