English private pension
Aug 5th 2009, 2:25 pm
#1
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Thread Starter
Joined: Aug 2009
Location: Ille-et-Vilaine
Posts: 1
English private pension
Hi there !
I have a question to retired citizens living in France : Could an English private pension be transferred to a French S.C.I ? (Société Civile Immobilière - Real Estate Civil company).
Thank you so much for your answer !!
Cheers !
Wendy II
I have a question to retired citizens living in France : Could an English private pension be transferred to a French S.C.I ? (Société Civile Immobilière - Real Estate Civil company).
Thank you so much for your answer !!
Cheers !
Wendy II
Aug 5th 2009, 9:43 pm
#3
Forum Regular
Joined: Jul 2007
Location: 61 Normandy
Posts: 297
Re: English private pension
An SCI is a non-commercial company so I can't imagine you could transfer a pension to one - have a look here for more info:
http://www.french-property.com/guide...legal/company/
http://www.french-property.com/guide...legal/company/
Aug 6th 2009, 7:03 pm
#4
BE Forum Addict
Joined: Apr 2009
Location: Scotland & Touraine [37]
Posts: 3,018
Re: English private pension
If it is a final salary scheme then it is not yours to move.
If it is money purchase then
Up to age 75 you have 3 choices.
1. Leave it alone.
2. Buy an annuity.
3. Use income drawdown.
At age 75 you must either buy an annuity or an unsecured pension.(only advised if you have a large pension pot)
You are only allowed to transfer your scheme to another provider who provides these options.
Basically, you do not have full control of this money but can only move it within the system.
Cyrian
If it is money purchase then
Up to age 75 you have 3 choices.
1. Leave it alone.
2. Buy an annuity.
3. Use income drawdown.
At age 75 you must either buy an annuity or an unsecured pension.(only advised if you have a large pension pot)
You are only allowed to transfer your scheme to another provider who provides these options.
Basically, you do not have full control of this money but can only move it within the system.
Cyrian
