Pensions
 

Hi chaps!

Can anyone please tell me the best thing to do with existing UK pensions when the CIC finally get round to letting us into Canada (I'll be moving to Ontatio hopefully)? Is there an issue with tax? I have heard there is a possibility of paying both UK and Canadian tax when you come to take the pension - is this correct? Any info at all on this subject would be greatfully received - ta!

:D

Re: Pensions
 

Just dealing with this issue as it happens. You can leave your pension where it is and collect it when the time comes in Sterling. Providing you have elected to pay tax in Canada, you can notify the UK that you want your pension gross and then pay tax on it here. If you want to transfer the pension to a Canadian scheme now, you can do it (admittedly with some difficulty) as long as the receiving scheme satisfies certain criteria. I am waiting on yet another letter from Blighty on this issue, as I am also entitled to a proportion of my ex husband's UK pension. Tricky but not impossible.