Looking into retirement pension for daughter overseas.

peter_the_piper

Hi, I've been tasked with the job of helping my daughter get a pension. The main problem is that she is working overseas at the moment. She has previously paid into a pension fund at the school where she worked but having gone abroad to teach 5 years ago she has let the pension slip. I'm a bit lost about these things as I let Nationwide sort it out for me when I moved my account to them. Millie is interested in legal and general, do they give the best returns of is there better?

Any guidance would be appreciated.

dunstonh

Millie is interested in legal and general,

Why?

do they give the best returns of is there better?

Depends on what L&G pension. And its not the pension that matters but the investments. L&G pensions range from a handful of funds to thousands of funds. They are not really active in the individual pension market any more. Plus, i am not sure they accept pension applications for non-residents. Even if the non-resident is eligible to pay into a UK pension for a limited period.

What pension scheme does the employer offer?
Is she within the EU or outside of the EU?

xylophone

Your daughter has a deferred TPS /LGPS pension?

Is she currently contributing to a pension ( or social security pension) in the country where she currently resides?

Has she checked her UK state pension position?

https://www.gov.uk/check-state-pension

https://www.gov.uk/national-insurance-if-you-go-abroad

https://adviser.royallondon.com/technical-central/pensions/overseas/contributions-to-registered-schemes-for-overseas-individuals/

peter_the_piper

xylophone wrote: »

Your daughter has a deferred TPS /LGPS pension?

Is she currently contributing to a pension ( or social security pension) in the country where she currently resides?

Has she checked her UK state pension position?

https://www.gov.uk/check-state-pension

https://www.gov.uk/national-insurance-if-you-go-abroad

https://adviser.royallondon.com/technical-central/pensions/overseas/contributions-to-registered-schemes-for-overseas-individuals/

I presume you mean a deferred teachers pension from her last UK school, Yes.
I've passed the web sites you linked to her to check out
Thanks.

peter_the_piper

dunstonh wrote: »

Why?


Depends on what L&G pension. And its not the pension that matters but the investments. L&G pensions range from a handful of funds to thousands of funds. They are not really active in the individual pension market any more. Plus, i am not sure they accept pension applications for non-residents. Even if the non-resident is eligible to pay into a UK pension for a limited period.

What pension scheme does the employer offer?
Is she within the EU or outside of the EU?

Checking what LG have to offer
Her employer goes by the rules in the country (Kazakhstan) and so don't offer a pension but give her the equivalent for her to arrange.
Which means ""for me to arrange.""

xylophone

Which means ""for me to arrange.""

She'll have to do this for herself? Might an initial enquiry below assist her?

https://www.expertsforexpats.com/expat-pensions/sipp-for-british-expats/

Albermarle

As far as I can see from the L&G website they do not offer individual personal pensions anymore , so not sure where this idea came from . Not that this is critical as there are plenty of well known providers of pensions and what funds the money is actually invested in is more important than the pension wrapper itself.