Expat Pension Advice

WelshCJ

Hi all,

My father recently contacted me for help with his UK pension. He emigrated from the UK around 1990 to Canada, and has now got dual Canadian/British citizenship. He does not have a UK address or bank account. 

He is trying to sort out his UK pensions and is under the impression he needs a UK bank account and address. I have found some information about expat bank accounts but I am unsure how to assist him. I was wondering if this forum could provide some advice please:

- Is it possible to get UK pensions attributed to non-UK bank accounts and addresses?

- If not, can he use my UK address / bank account

- OR could he use an expat account - if so, does anyone know where I can get advice on these types of account?

I am confident in my own pension planning, but not really sure how to help my father in this situation - or even what questions I should be asking him.

I appreciate any advice or assistance.

Thank you for your help.

Best Regards,

CJ.

xylophone

Does he have an entitlement to a UK state pension?

https://www.gov.uk/state-pension-if-you-retire-abroad

With regard to any personal or occupation pensions he may have, he need to contact the insurance companies/administrators,  and ask about bringing his pensions into payment as a non-resident.

Examples

https://www.aegon.co.uk/support/faq/pension-technical/payment-of-pensions-abroad.html

https://www.derbyshirepensionfund.org.uk/my-pension/pensioner-members/moving-overseas/moving-overseas.aspx

HappyHarry

Many retired people live abroad. Your father’s situation is not unusual and pension providers can readily deal with this situation.

The state pension can be paid to an overseas bank account.

Personal pensions can usually be paid to an overseas account, your father just needs to contact the provider.

In no circumstances should your father try to get his pension paid into your bank account.

WelshCJ

Thanks both, I will speak to him about this and see if I can guide him through it.

Cheers,

CJ.

[Deleted User]

I am in the same situation, also in Canada.

1. His Uk state pension can be paid directly into his Canadian bank account either in CAD or GBP.  Other pension sources - he would need to check. 

2. I set up a British bank account from Canada.  It is very easy with HSBC. Free if you are “Premier”.  Convenient because you can see all you British and Canadian accounts on the same screen and the transfer between countries is also free and instantaneous. 

Having said it, “Wise” and EQ Bank likely provide similar services and cheap exchange. 

3. The other issue to look into is taxation.  He should not be taxed in the UK.  However, depending n the forms he had filled in, they may not be aware of that and might subtract UK taxes prior to payment.  He would get the money eventually but its better to resolve in advance.