Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what reciprocal arrangements are in place to allow UK citizens who have worked in Australia to import the pension contributions that they paid while working abroad.
Tax rules allow UK registered pension schemes to accept a transfer of pension rights from a non UK pension scheme – including those in Australia. However, rules applying in each individual country, including Australia, may preclude an individual transferring their pension to the UK or give rise to a tax charge.