Pension payment query
 

Please, looking for a bit of help.
Mrs Inse receives a small UK state pension every 4 weeks. At the moment it is paid into her UK bank where she leaves it to build up a little.
Her question is; Is it better to let this sum build up then transfer it over 2 or 3 times a year using Moneycorp, or would it be easier to have it paid direct to our Canadian account every 4 weeks?
We're just not too sure on how exchange rate and fees work in this situation.
Many thanks.

Re: Pension payment query
 

I don't think there is a right or a wrong answer to this. However a bank/money company dresses up their charges there will always be an element of fixed cost in each exchange and transfer. How often you are prepared to pay this fixed cost depends mostly on how much you need the cash in Canada.

There is a bigger exchange rate risk if you allow the money to accumulate in the UK but that could be good or bad.