If you do not meet the above criteria, received the lump sum more than six months after gaining Australian residency or ceasing employment in the UK, and were an Australian resident when you received the payment, there may be tax implications.
You will need to add some or all of the payment to your assessable income for the financial year it was paid to you, and the assessable portion of the payment should be treated as normal income for taxation purposes according to the ATO. However, if you instead choose to transfer the whole of your UK pension fund directly to a complying Australian super fund, the ATO advises that it will be taxed as assessable income of the superannuation fund rather than as your personal income. The ATO notes that if you choose to have your sum assessed as part of your complying super fund’s assessable income, it will generally be taxed at 15%, which may be less than your marginal tax rate, depending on your income.