Work private pension withdrawal to UK bank account

andy_stay

redux wrote: »

I'm not sure why you are worried about aacounts closing.

Two people I know have lived abroad for about 25 and 20 years, and still have their original UK accounts from more than 30 years ago.

I don't know how often they have transactions on there, whether anything is needed to keep them ticking over. But I assume that the foreign address is known about.

I suggest a chat with your existing bank, then look for new candidates if necessary.

I talked to 2 banks I have accounts with, they both won't allow anyone to keep current account if moving abroad permanently.

newatc

andy_stay wrote: »

So your daughter uses UK debit card abroad on regular basis, I think the fees of using debit card abroad is very high.
I will call Nationwide and ask if they will let me keep account with overseas address and send the debit card etc to overseas address when renewed

No she doesn't use her debit card to buy dollar purchases. She uses her card when she is visiting, when purchasing £ products (surprising there are UK online companies who deliver free to overseas addresses) and has set up mechanism (don't know how it works) whereby she can transfer money cheaply between UK and Australia.

HOWEVER, I should add that the address on her account is our home address even though she has spoken to them from Australia on matters and that hasn't raised any flags.

andy_stay

newatc wrote: »

No she doesn't use her debit card to buy dollar purchases. She uses her card when she is visiting, when purchasing £ products (surprising there are UK online companies who deliver free to overseas addresses) and has set up mechanism (don't know how it works) whereby she can transfer money cheaply between UK and Australia.

HOWEVER, I should add that the address on her account is our home address even though she has spoken to them from Australia on matters and that hasn't raised any flags.

That's the thing, As I said in my original question, I don't have any UK address to give to banks, once I leave UK.
I think best would be to transfer pension to another provider who can send funds overseas.Question is which UK pension provider allows that?

Keep_pedalling

I would not be worrying about this now, a lot can happen in 10 years, pension funds may change their rules, and you end up having to move it for a second time, you might have a change of heart and return to the UK.

It may also be possible to transfer it to your new country of residence, but again I would leave that until you are nearing your 55th birthday.