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moving pensions from the uk to canada

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moving pensions from the uk to canada

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Old Apr 5th 2013 | 1:26 am
  #1  
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From: ottawa ontario
sarahloo is on a distinguished road
Default 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 ?
 
Old Apr 5th 2013 | 12:13 pm
  #2  
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From: Vancouver, BC
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Default 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
 
Old Apr 5th 2013 | 11:57 pm
  #3  
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Default Re: moving pensions from the uk to canada

Originally Posted by Mimzy
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
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
 
Old Apr 6th 2013 | 11:08 am
  #4  
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Default 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.
 
Old Apr 8th 2013 | 4:39 am
  #5  
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From: Picton, ON
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Default 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...
 

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