Workplace pension advice

philbentley

Hello,

My Spanish girlfriend has recently been working in a UK university for a little more over two years. Due to her contractual work she has now returned to Spain to work. When the new rules for 'forced' workplace pension was introduced she signed up as at the time she was not sure where her job/contract would take her and thought it would be good to be part of a pension plan if she was staying the UK.

As she has now returned to Spain she has enquired about her pension money about being able to have access to the money?

Is this possible, there is quite a bit of money in there and it would be useful to have access after setting up in a new place in Spain.

I am unable to offer her full advice as I am a student still and not exposed to the workforce pension plan.

Would it even be possible to transfer the pension money to a Spanish pension or personal pension?

Hopefully someone can help, we are a bit confused at the current situation.

Thanks

molerat

She will not be able to access the money unless over 55.
She may, dependent on the particular scheme, be able to transfer to an approved Spanish pension scheme. https://www.gov.uk/government/publications/list-of-qualifying-recognised-overseas-pension-schemes-qrops/list-of-recognised-overseas-pension-schemes-notifications#spain

DonM

She cannot access the money until 55.

She could use a QROPS which may benefit her depending on her situation (how much her pension is worth, what her plans are etc and assessing the costs of such a scheme vs the benefits)