The only dedicated B2B UK pension transfer solution for Australian advisers

HarbourPTS is a compliance-friendly outsource solution that utilises FCA regulated UK pension transfer specialists.

About
HarbourPTS

HarbourPTS offers the only dedicated B2B UK pension transfer solution for Australian financial advisers, providing a seamless end-to-end transfer solution for your client’s UK pensions.

We help you, as an Australian financial adviser, provide your clients UK pension with a pathway to Australia, bridging the advice gap between the UK and Australia. Our compliance friendly transfer process is a transparent solution for both under and over 55’s, aimed at achieving the best possible outcome for your clients. We understand that every client situation is unique, requiring a thorough assessment and tailored solution to produce an optimal outcome.

Our guidance will give you all the information you require to make the necessary decisions for your valued clients.

Why do Australian advisers use us for UK pension transfers?

Low risk

HarbourPTS is a compliance-friendly outsourced solution that utilises FCA regulated UK pension transfer specialists.

Control

You maintain full control of your clients. Our UK pension transfer specialist’s role is to provide UK pension transfer advice, not  Australian advice.

Time and cost efficient

We cut out the middle man to provide a low-cost solution which does all the heavy lifting for you, allowing you to focus on what you do best.

Education

HarbourPTS provides you with a level of understanding and a trusted process to provide a UK pension solution to your clients. 

Step 1

Complete online enquiry form and submit any supporting documents

Step 2

Receive confirmation email

Step 3

We will be in touch within 48 hours

Step 4

Initial analysis of UK pension

Step 5

Complimentary phone meeting with UK adviser to discuss options, answer questions and determine next steps

Step 6

Your client completes the documentation and the transfer process begins

Over 55: Why transfer your clients' UK pensions to Australia?

If your client is over the age of 55 and retiring in Australia, it is in their best interest to transfer their UK pension to an Australian QROPS.

Should clients draw their UK pension from the UK, the Australia Tax Office (ATO) will treat the pension as income and tax it accordingly for life.

Should clients pass without transferring their defined benefit schemes to Australia, the benefits may die with the beneficiary. At best, the surviving spouse will receive up to 50% of the benefit. Transferring to Australia significantly increases the Estate planning options for the client.

CETV are high based on 15 year gilt rates being low. As interest rates rise in the UK, CETV’s fall. Gilt rates have already started to rise and are starting to impact Cash Equivalent Transfer Values (CETVs).

They can draw a tax-free income at retirement age.

Leaving UK pensions in the UK may leave clients liable for inheritance tax.

Like Australia the UK has limits on how much you can accumulate in your UK pension. Once your client’s entire UK pension has been transferred to an Australian QROPS the pension can grow without further assessment for Lifetime Allowance limits.

Forecasting income from a foreign pension in a foreign currency can be difficult on a year to year basis. By transferring to Australia and investing in AUD investments you eliminate the clients FX risk.

Under 55: Why wait until your client reaches the age of 55 to make their UK pension part of their Australian retirement plans?

If you have clients under the age of 55 they can move their UK pension to a self-invested personal pension (SIPP). Like a SMSF in Australia, a SIPP provides greater transparency, control and investment options for clients.

There are a number of reasons why Advisers with clients under the age of 55 should transfer their clients UK pension to a SIPP.

By transferring to a SIPP Australian Advisers and clients acheive greater control and transparency around their UK pension Investments.

Transferring to a SIPP provides mulit currency investment opitons including AUD investments.

Transferring to a SIPP will allow Advisers to bring the clients UK pension into congruence with the client Australian retirement plans.

CETV are high based on 15 year gilt rates being low. As interest rates rise in the UK, CETV’s fall. Gilt rates have already started to rise and are starting to impact Cash Equivalent Transfer Values (CETVs). Transferring to a SIPP allows clients to take advantage of the high CETV’s.

Should clients pass without transferring their defined benefit schemes to a SIPP, the benefits may die with the beneficiary. At best, the surviving spouse will receive up to 50% of the benefit. Transferring to a SIPP significantly increases the Estate planning options for the client.

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