Final salary CETV

kidmugsy

Rrunner wrote: »

Then theres a bunch of indecipherables about demographic assumptions which are beyond me.

I imagine they are referring to the necessity of guessing how long the members, and their widows, are going to survive. Every time a fifty-year old marries a young trophy wife, an actuary curses.

kidmugsy

Have you checked how the Canadian taxman will view the money in your UK pension? Will he want to tax capital gains or income, as inferred from the growth rate of your entitlement?

In other words, the money may be safe from HMRC's deprivations, but how about HM's Canadian Tax Mounties?

Rrunner

Thank you sands, I'm green to the pensions scene but I think I understand what you're saying! All the calculations that I'm capable of indicate that this CETV is low, so I'll take the next few years to have it recalculated annually and see what happens to the number.

kidsm, this will be declared as income here in Canada. Its on a tax treaty basis so I won't pay taxes twice.

If I brought the CETV over it is declared and then neutralized in that tax year as it was earned before being a Canadian resident.
At the latest, in my 72nd year the fund is then converted to an income fund and minimum percentages must be taken annually from that point according to age.
All pension streams from UK and Canada are then declared as income.
And then they claw back the Canadian State pension as its means tested.
All those CPP payments just go !!!!!!!