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Pension Transfer update

Pension Transfer update

Old Dec 8th 2010, 1:52 am
  #1  
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Default Pension Transfer update

Hi all.

Just to let you know, my pension is now over here in a Non Locked in RRSP.

The transfer took less than 2 months or so, I believe the quick transfer was helped 1. By my Railway Pension Scheme provider2. The fund company that was used and finally 3. my agent.

Just thought I would share how easy my transfer was, however of course the process can take a lot longer. But perhaps my case can put other peoples minds at ease.

Steve
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Old Dec 8th 2010, 4:19 am
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Default Re: Pension Transfer update

was your pension locked in back in the uk. if not can you tell me how you did it as i have been trying for a year to transfer mine into a unlocked rrsp
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Old Dec 8th 2010, 8:52 pm
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Default Re: Pension Transfer update

Thats good to hear.

I plan on doing this with my pensions when I get over. I've seen a few people posting on here who have done it, and also who are brokers (not sure that's the right term) that will help you do it.

Early days for me yet, but will look for more info on here when I'm ready to make the transfer.
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Old Dec 8th 2010, 10:23 pm
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Default Re: Pension Transfer update

I'm in the middle of doing the same thing.
My understanding though is that you cannot touch it for at least 5 years after leaving the UK, otherwise you can lose a huge chunk of it to the taxman.
I plan on using mine as a down payment on a house eventually.
Happy to forward the contact details of the person who is handling this for me if required. Send me a PM.
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