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Re: UK Occupational pensions
Originally Posted by brianlew88
(Post 4791127)
Anyone interested in answers just email me directly as I have personally transferred over 30 UK pensions (from many different fields) over the past few years. There is a lot of misinformation floating around this website so email me direct and I will give you the nitty gritty.
Cheers, Brian |
Re: UK Occupational pensions
Wow...not sure what the problem is here, but I really think that you might want to take a breather. "Adviser"??? First of all it is spelled Advisor and second of all, I never said that I was an advisor looking for free leads. Whatever your opinion is, remember it's yours and yours only!
Please disregard "nigelonline's" reply as ignorence and anyone interested just PM or email me direct and I will give you the information. Thanks, Brian |
Re: UK Occupational pensions
Originally Posted by brianlew88
(Post 4799720)
Wow...not sure what the problem is here, but I really think that you might want to take a breather. "Adviser"??? First of all it is spelled Advisor and second of all, I never said that I was an advisor looking for free leads. Whatever your opinion is, remember it's yours and yours only!
Please disregard "nigelonline's" reply as ignorence and anyone interested just PM or email me direct and I will give you the information. Thanks, Brian Firstly both "adviser" and "advisor" are acceptable in North America check out Merriam Webster online.:p Also if you are going to correct spelling at least get your own correct "ignorance" is spelled with an "a" not an "e". ;) "nigelonline" does have some reason to be initially suspicious, as in your profile you do list your occupation as "UK Pension Consultant" which could imply fee for service in this case. Cheers Steve |
Re: UK Occupational pensions
Originally Posted by brianlew88
(Post 4799720)
Wow...not sure what the problem is here, but I really think that you might want to take a breather. "Adviser"??? First of all it is spelled Advisor and second of all, I never said that I was an advisor looking for free leads. Whatever your opinion is, remember it's yours and yours only!
Please disregard "nigelonline's" reply as ignorence and anyone interested just PM or email me direct and I will give you the information. Thanks, Brian Firstly, I was careful to say "It seems to me" which might just imply that it "is my opinion" and not anyone elses. I wasnt going to make any more contributions to this particular thread but it seems to be turning into fun so here is something else for others to consider when investing. Often Advisors will tell you quite rightly that 100% of your money is invested and this can be quite true, sometimes greater than 100% is invested i.e. the Fund Manager may add 1% himself. Under these circumstances this is usually because the Commision is taken from the fund in the form of an ANNUAL MANAGEMENT charge and also perhaps taken again when the Investment matures or when the Pension is is converted into an Annuity i.e turned into income. The total commisions taken from the Fund on this ANNUAL basis to pay the Advisor and Fund Manager and Shareholders etc can be immense and the fund will need to grow very well just to stand still. If the Fund Performance stands still your pension will go backwards courtesy of the Annual Charges that are deducted irrespective of negative investment performance. When you have a Company Staff Pension scheme or Public Service pension it is nearly always the Company that will pay for the cost of running the scheme and therefore Commisions are not an Issue and this can be a good reason for keeping your pension where it is. Pensions transferred from previous Employers Schemes to new Fund Managers would have to perform at an exceptional level of Growth to be worth taking the risk IMHO, and this type of stock market performance is subject to Downs as well as Ups. I think I will finish contributions to this thread now unless I am provoked into offering my opinion further. |
Re: UK Occupational pensions
Hi,
I can't answer your question specifically, but I do know that the rules for UK pensions have changed significantly and it is possible to move your UK pension funds to another country - not necessarily the one in which you reside - and enjoy the benefits of a different pension and tax regime. Essentially, avoiding UK taxation and the pension rules where you live. It could mean that you are able to access your pension's capital today without significant taxes in the country where you live or any on exit from the UK where the income will eventually be taxed. Basically, from a tax and benefits point of view, if you are no longer tax resident in the UK then you should get your money out and search for a tax favoured home for your pension capital - Guernsey, Ireland, Gibraltar, Malta A mundane note for my first post - I was looking for help on property - but I thought I could have an attempt at answering your question. Munster |
Re: UK Occupational pensions
Originally Posted by excdncop
(Post 4536055)
I have a friend who is a Financial Planner here in Canada. He is a pension transfer expert and has assisted numerous ex-pats in transferring over their pensions. He has helped people throughout Canada. I would post his info but don't want to violate the rules! Anyone interested in contacting him can e-mail me for his information. I guarantee he will have the answers for you.
Thanks Marty |
Re: UK Occupational pensions
Originally Posted by excdncop
(Post 4536055)
I have a friend who is a Financial Planner here in Canada. He is a pension transfer expert and has assisted numerous ex-pats in transferring over their pensions. He has helped people throughout Canada. I would post his info but don't want to violate the rules! Anyone interested in contacting him can e-mail me for his information. I guarantee he will have the answers for you.
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Re: UK Occupational pensions
Originally Posted by excdncop
(Post 4536055)
I have a friend who is a Financial Planner here in Canada. He is a pension transfer expert and has assisted numerous ex-pats in transferring over their pensions. He has helped people throughout Canada. I would post his info but don't want to violate the rules! Anyone interested in contacting him can e-mail me for his information. I guarantee he will have the answers for you.
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Re: UK Occupational pensions
Originally Posted by dozzzzy
(Post 3974558)
Thanks for the information, no schemes in Canada yet, but what's with Australia, 31 schemes, they must really like UK money :D
Dozzzzy :zzz: |
Re: UK Occupational pensions
Originally Posted by Atlantic Xpat
(Post 3953429)
The endowment topic provokes me to ask what the assembled masses have done with their UK company pension(s)? I have two final salary schemes frozen from previous employers in the UK. Left alone they will pay me a pension (not a large one but more than a few k) in 20something years time.
I've not transferred them to any other scheme in the UK or here primarily because they are both reasonably 'safe' schemes that should be around when I come to draw and also because I can't put my hand on my heart and say that I will definately be in Canada when a pensioner. Reading the tax implications in Canada on the growth in value of UK endowments I am now afeared that I have done the wrong thing! If I leave em in the UK and then start getting paid them in 20something years time am I going to get a whacking tax bill on the growth or just be taxed on the income? If I move em over what do I do, get a lump sum to stuff into my RRSP? Or do I need a smart tax advisor? I'm sure I'm not the first to go through this. Any experience or advice welcome! Cheers. AX We have just completed our transfers to Canada from the UK Mines was a civil service pension, the wife was her bank pension You are allowed a one off tax free payment into a Canadian RRSP Hope this helps Eddie |
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