Proposed changes in the 2021 Budget will level the playing field for SMSFs with members who move overseas.
If you have savings in a KiwiSaver account, you can voluntarily transfer them to an Australian super fund under the provisions of a Trans-Tasman Retirement Savings Portability scheme that was introduced on 1 July 2013.
There are specific residency requirements that you must meet to be eligible to receive the Age Pension from the Australian government.
The laws that apply to your retirement savings can become more complex if you live or work overseas for any length of time. Here, we highlight some of the rules, issues and options that you need to consider to look after your retirement savings.
Question: I’m an Australian citizen and want to retire in Italy when I’m 52. Can I access my super because I don’t plan on working again in Australia?
The Departing Australia superannuation payment (DASP) is available to departed temporary residents who worked and earned super in Australia. It is not available to permanent Australian residents, nor for Australian and New Zealand citizens.