Future Proof Your Fund
As an expatriate it can be very easy to lose track of your Super while living overseas and the longer you are away from Australia, the more likely it is that your Super Fund contacts will become outdated or unreliable.
As you are required by Australian law to leave your Super money in Australia until meeting a condition of release, it can be a frustrating process to get some valuable answers on your retirement money.
We offer a unique service when it comes to expats and their Super
We organise to consolidate your Super funds into one fund if required, give you online access to track it at any time and ensure that the money is invested appropriately for you and your circumstances.
We also research any insurances that may be attached to your Super fund and check if they are valid and compatible with your expat status.
Know your options
Want to access your Super as soon as possible?
At Edge we can assist you with commencing a non-commutable pension from the age of 55, if you are still working. That means you can access up to 10% of your Super balance each year once you turn 55.
We’re super communicators
Our senior advisors travel regularly to various countries where there is a concentration of expats to meet up with you and review your circumstances.
We can also speak with you at any time via phone, Skype or facetime. We can discuss any changing circumstances and review your investment mix to ensure that it remains current and compatible with your goals.
We review this with you at least once every twelve months and keep in contact in between, just in case things change.
EXPATS AND SELF MANAGED SUPER FUNDS
Can I keep my SMSF when I move overseas?
A Self Managed Super Fund must meet Australian residency requirements to ensure it is still a complying fund. This requires the fund and/or trustees to meet the following conditions:
• Your Fund was established in Australia, or at least one of the Fund’s assets are located in Australia
• The central management and control of your Fund is ordinarily in Australia
• Your Fund must have no active members or have active members who are Australian residents and who hold at least 50% of;
– the total market value of your Fund’s assets attributable to Super interests, or
– the sum of the amounts that would be payable to active members if they decided to leave the Fund.
ACCESSING EXPAT SUPER
When can I access my Super money?
You cannot access your Super just because you have moved overseas. You are still bound by the same regulations in relation to meeting a condition of release and at least your preservation age.
A condition of release is generally that you have retired permanently from the workforce, however there can be “exceptional” circumstances. Your preservation age is based on the year you were born. See the table at right.
You may from the age of 55 be able to commence a pension to access some of your Super with some limitations around it. Edge advisors guide you through this process and advise best course of action.