Exchange rate
#1081
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UK Inland Revenue will allow you to transfer to a 'locked' (unable to access money) and recognised RRSP, this is because they don't want you taking money out of the UK and missing out on the tax when you spend it......They still want to control your money.
QROPS - locked recognised plans.
http://www.hmrc.gov.uk/PENSIONSCHEMES/qrops-list.htm
Reading this thread there is a way round this.
http://britishexpats.com/forum/showthread.php?t=486579
My other half has 3 company pensions to transfer, even though he has had continuous employment, companies bought out other companies.....So has 3 different plans.
We hoped to put all 3 pensions into new employers plan, but he cannot join that company scheme until he has been with them for 1 year. Even then we are not sure if that one is 'locked'. As OH is coming over on a work permit, we are going to take advice in Canada....
Charlie
Last edited by purple80; Mar 17th 2008 at 10:12 pm. Reason: adding info
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#1082
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Thanks i will have a look thro that list.
Chris
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We're in the process of setting up a mortgage on a house we've just bought in NS, any advice as to whether its best to get a 6 month variable rate or a 5yr fixed?
I think the rates will continue to slide down over the next few months and we're better off getting a 6m variable then lock it in when its at its lowest, but not exactly my area of expertise.
I think the rates will continue to slide down over the next few months and we're better off getting a 6m variable then lock it in when its at its lowest, but not exactly my area of expertise.
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#1084
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We're in the process of setting up a mortgage on a house we've just bought in NS, any advice as to whether its best to get a 6 month variable rate or a 5yr fixed?
I think the rates will continue to slide down over the next few months and we're better off getting a 6m variable then lock it in when its at its lowest, but not exactly my area of expertise.
I think the rates will continue to slide down over the next few months and we're better off getting a 6m variable then lock it in when its at its lowest, but not exactly my area of expertise.
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#1086
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I would agree, at least with a fixed rate you know exactly what your outgoings are. I have always gone fixed rate, yeah you may get better but the security of knowing payments are 'x' until 'y' date is a comfort.
Sorry about the heart condition. But surely with the mortgage paid off you could relax a bit workwise and not get yourself too stressed.
Chris
Sorry about the heart condition. But surely with the mortgage paid off you could relax a bit workwise and not get yourself too stressed.
Chris
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Yes I went from the high of we now have all of this extra money what are we going to spend it on. To oh sh*t there goes my job, how are we going to live in very short order.
Then reality set in and I realised things weren't as bad as they seemed, although I did end up retiring much earlier then I anticipated.
Having the mortgage paid off has been a major factor in our living reasonably comfortably since.
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We have a certain urgency. Sundry divorces etc left us both back in the rental sector and with little or no capital. We only got back into the morgage lark when we'd both turned 40. That doesn't give much time to pay off a hefty mortgage.
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Easy Tiger you could give a girl a heart attack reading stuff like that!!!!
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I have no idea what Chris meant either (and read it loads to try and get my head round it
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The whole "fear factor" is affecting every financial instituation at the moment (FWIW I've just bouught more BMO shares - its a long term thing!) and as the natural cycles of boom and bust occur, all we are in is a bit of a downturn, these don't last forever and in time it will pick up. Could be months but more likely years.
Don't panic is my motto at the moment
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#1090
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anyone looking to change funds in the near future, FOMC (US Fed) making interest rate decision at 2.15pm UK time. No idea what the hell they do, they have to cut, but it could be anything from 0.25% to 1.5%, the higher end of that should cause a sharp rally in stocks and weakness in US $.
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#1091
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Mandy, i did say CAD$ 325m was nothing. If that is all BMO exposure is then they got off very lightly. And means that when the dust settles the shares will be all the more attractive.
Sorry if the explaination went over peoples heads. Was just trying to explain what a margin call was and got carried away.
Chris
Sorry if the explaination went over peoples heads. Was just trying to explain what a margin call was and got carried away.
Chris
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Mandy, i did say CAD$ 325m was nothing. If that is all BMO exposure is then they got off very lightly. And means that when the dust settles the shares will be all the more attractive.
Sorry if the explaination went over peoples heads. Was just trying to explain what a margin call was and got carried away.
Chris
Sorry if the explaination went over peoples heads. Was just trying to explain what a margin call was and got carried away.
Chris
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#1093
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Don't worry i got the dunce hat on today.
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BTW have emailed wealth management and hopefully will have a "how to do it" scenario for the transfer of the PP to RRSP for you.
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