Pension Transfer update
Dec 8th 2010, 1:52 am
#1
GO FLAMES GO!!!!
Thread Starter
Joined: Feb 2005
Location: Calgary eh?!
Posts: 571
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
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
Dec 8th 2010, 4:19 am
#2
Just Joined
Joined: Feb 2009
Posts: 23
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
Dec 8th 2010, 8:52 pm
#3
Forum Regular
Joined: Jul 2010
Location: Burlington, ON
Posts: 202
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.
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.
Dec 8th 2010, 10:23 pm
#4
Account Closed
Joined: Jan 2007
Posts: 2,404
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.
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.
