Maving to Canada, what do I do with my pension!

martin27_2

Hi All,

I was just wondering if anyone here might know what I should/can do about moving my pension fund when I emmigrate to Canada later this year?

Is it transferable, can I organise it myself or do I need professional help?!

Any advice would be gratefully received or direction to a resource on this matter. I have looked via Google, but can;t seem to find anything.

For the record I have a pension with SAUL, the University of London Academic scheme. Also what happens to my government pension?

I am 30 years off retirement, but I still need to know as I don't want to lose 15 years worth of contributions!

Thanks
Martin

Cook_County

Look for an immigrant trust

Debt_Free_Chick

You won't lose the contributions anyway.

You could simply leave it with SAUL and then claim your pension from them when you retire. The amount will be paid in Sterling and you'll need to stand any commission or currency exchange charges.

EdInvestor

martin27 wrote:

Hi All,
For the record I have a pension with SAUL, the University of London Academic scheme. Also what happens to my government pension?

Hi Martin

Speak to the trustee/pension administrator of you company scheme to find out the position - it will probablyu be "frozen", suggest you familiarize yourself with the terms.

Re the state pension, you can pay voluntary contributions to keep your right to the state pension while you are abroad, and these are very cheap at present, a bargain IMHO. Recommended: you never know where you might be when you retire.

The overseas service NICO is based in Newcastle.

martin27_2

Thanks a lot for the help.

I'm going to get onto my pension administrator asap!

Martin