Aviva Problems

UK_to_the_Philippines

I am going to move to the Philippine's later this year and I have a private pension from a company I worked for many years.  However, even though I am currently getting this pension every month, I am unable to get it transferred overseas to the Philippine's  due to there policies.

The major problem or stumbling block I have is that the bank account in the Philippine's is in my wife's name only.  They continue to state this to me and I have said this (emails and repeated phone calls - with all details, account name etc) many times that it would take ages to sort that out, and that I should be able to whatever I like with my pension as it is mine and not yours.

I have already had problems with this company before as do numerous other people I know personally.

Can anyone please give me some advice.  Any help will do as I feel I am getting nowhere with Aviva alike many others.

Thank you...

dunstonh

 I have said this (emails and repeated phone calls - with all details, account name etc) many times that it would take ages to sort that out, and that I should be able to whatever I like with my pension as it is mine and not yours.

They are not stopping you.  They just refuse to pay it to a third party account overseas. 

I have already had problems with this company before as do numerous other people I know personally.

As an IFA, I deal with them far more than you and whilst there are quirks or things to be aware of, as there are with any provider, they don't actually have many "problems".  No company is perfect but they are no better or worse than any others.    

Can anyone please give me some advice.  Any help will do as I feel I am getting nowhere with Aviva alike many others.

Keep a UK bank account open and have it paid to that.  Then transfer money from that as and when needed.

DullGreyGuy

dunstonh said:

Can anyone please give me some advice.  Any help will do as I feel I am getting nowhere with Aviva alike many others.

Keep a UK bank account open and have it paid to that.  Then transfer money from that as and when needed.

If you can, plenty of UK banks have clamped down on overseas account holders as the UK bank doesn't have the necessary licences to operate with overseas customers. 

squirrelpie

From my position of total ignorance, why would it take a long time to open a Philippines bank account?

There are certainly some UK banks that will allow overseas holders.

An alternative might be to move the pension to a provider who is willing to make payments to your wife's Philippine account, but I have no idea if such a thing exists.

UK_to_the_Philippines

Thanks so far guys for your help...

dunstonh

Many of the UK's retail banks continue to offer services to customers moving outside the EU, US, or sanctioned country.

JoeCrystal

squirrelpie said:

From my position of total ignorance, why would it take a long time to open a Philippines bank account?

There are certainly some UK banks that will allow overseas holders.

An alternative might be to move the pension to a provider who is willing to make payments to your wife's Philippine account, but I have no idea if such a thing exists.

That is right; once UK_to_the_Philippines gets a valid resident visa and resident address in the Philippines, he should have no significant issues in setting up a bank account.

You just have to open it in the Philippines once you move there. 

xylophone

https://www.filepino.com/how-to-set-up-a-bank-account-in-the-philippines/