moving pensions from the uk to canada
#1
Thread Starter
Forum Regular


Joined: Dec 2012
Posts: 56
From: ottawa ontario

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 ?
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 ?
#2
Just Joined

Joined: Jul 2012
Posts: 28
From: Vancouver, BC

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
Hope this helps
#3
Thread Starter
Forum Regular


Joined: Dec 2012
Posts: 56
From: ottawa ontario

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
#4
Just Joined

Joined: Jul 2012
Posts: 28
From: Vancouver, BC

I bank with Scotiabank. It's worth speaking with your bank to see what they can offer.
#5
Forum Regular



Joined: Jan 2009
Posts: 194
From: Picton, ON











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...




