Hello again George.
Using the same numbering:
1. In the UK there is generally a facility at retirement age for retirees to have the choice to take a lump sum as well as an income stream (an annuity). This lump sum is tax free in the UK and can be generally up to 25% of the value of the fund.
However, my understanding is that this lump sum is not tax free in Australia by virtue of section 27CAA.
I mention this to demonstrate that there is more to the issue than simply saying "leave in the UK and there won't be a penalty."
Furthermore, leaving pension arrangements in the UK exposes the future retiree to currency risk, and that also has to be factored into the decision.
2. Re professional advice: I mean someone suitably qualified who can advise in the context of all the tax issues (because this is usually the main driver affecting the movement of pension arrangements to Australia - as already highlighted above), and once these have been considered can give advice to give effect to whatever comes out of the tax review (who I agree would usually be someone duly authorised to give financial planning advice in Australia).
Just my opinion ...
Best regards.
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