moving pensions from the uk to canada
 

Hi
i have just been looking at moving my private pension that has been frozen in the uk to a Qualifying recognised overseas pension scheme (QROPS) and wondered if anyone had any experience of doing this .I have been back in canada for 7 yrs now and i read from 2006 this was now possible.
anybody have any thoughts ?

Re: moving pensions from the uk to canada
 

I am just in the process of doing that and I am going with Scotiabank. They set up all the paperwork and pay any transfer fees(i was told this is about $75).
Hope this helps

Re: moving pensions from the uk to canada
 

Thanks mimzy i first looked at going through a company who would do it all but i have just looked and RBC have Qrops and thats who i bank with but i havent spoken with anyone yet i would be interested in knowing how the process goes for you .t
One of the companies that do it for you charge 15 percent of annual income or $500 which ever is lower which i dont mind paying if the process is complicated. But if your experience is fairly easy then ill do it myself .i have all the pension information i need so its not like they have to search for it

Re: moving pensions from the uk to canada
 

I bank with Scotiabank. It's worth speaking with your bank to see what they can offer.

Re: moving pensions from the uk to canada
 

It might be worthwhile checking carefully whether you lose out financially by moving it rather than keeping it deferred in the UK: it would have been crazy for me to have shifted mine...