Keeping PEPs, ISAs & Endowment Policies going
 

Met with our financial advisor a couple of months ago.

Only advice was to swap my wife's poorly performing ISA from some years back to another which he felt had a better track record.

In contrast to the advice on the wiki he did not at any stage suggest we cash in all PEPs, ISAs, Endowment plans.

We have a portfolio report, dated June 2011 which shows the value of these investments at that time.

Do we need an updated report on the day we land?

Any problems with us keeping these investments running after we leave the UK?

Thanks,

Tiger.

Re: Keeping PEPs, ISAs & Endowment Policies going
 

yes you can keep them, but you won't be able to pay into the ISA anymore as you are not a resident in blighty for tax purposes.

Re: Keeping PEPs, ISAs & Endowment Policies going
 

Yes, an updated report will be a very good idea.

As fatherjack says, you can keep your ISA going just cannot contribute more. The problem is that Canadian tax law does not recognize the tax exempt status of these kinds of savings plans so any income or gains you realize within the plans from the day you become tax-resident in Canada is fully taxable here.

Generally, as you build up room to contribute to RRSPs and TFSAs here you would be a good idea to take your investments out of the UK plans and contribute them in Canada.

Re: Keeping PEPs, ISAs & Endowment Policies going
 

Thanks both.

The ISA are from years back and I haven't added to them over the years - even though I probably should have. The PEP gets and extra £70 invested each month and I assume I can continue doing that if I wish, but I think I'll stop adding to that too and start thinking Canadian when it comes to investments and savings.

I think I'll get me some financial advice after I land.

Cheers.

Re: Keeping PEPs, ISAs & Endowment Policies going
 

Definitely. I would pick someone with a certified financial planner designation (CFP) and pay them a fee for service.