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pensions again

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Old Oct 20th 2013 | 12:57 pm
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Default pensions again

I have a small NHS pension and my husband a small military pension and lump sum My imprrssion is that it is best to leave these i the UK as they are index linked. Instead of drawing them when due would it be a good idea to transfer them via QROPS just beforehand? Is it even possible?
 
Old Oct 20th 2013 | 3:22 pm
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Default Re: pensions again

Originally Posted by bats
I have a small NHS pension and my husband a small military pension and lump sum My imprrssion is that it is best to leave these i the UK as they are index linked. Instead of drawing them when due would it be a good idea to transfer them via QROPS just beforehand? Is it even possible?
It is only the UK state pension that is not index linked in Canada. Index linking of private pensions depends on the terms of the private pension plan.

The main risk of leaving the pensions in the UK is the exchange rate. Transfering them via QROPS is certainly possible but there obviously is a cost to this. That said, RRSPs are more flexible than many UK pension schemes so it may be worth it.
 

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