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UK pension transfer

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Old May 3rd 2025 | 10:12 am
  #1  
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Default UK pension transfer

Hello, has anyone transferred the pension to Italy.
I have read that a pension UK based will be taxed in the UK and then again in Italy. This issue may be avoided by transferring the pension to Italy.
 
Old May 3rd 2025 | 10:24 am
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Default Re: UK pension transfer

Are we talking "state" or "private"? But to be honest I've never heard of either being transferred.
 
Old May 8th 2025 | 3:45 am
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Default Re: UK pension transfer

No need to transfer anything. You just declare in Italy the pension paid in the UK and deduct the tax paid in the UK.
 
Old May 8th 2025 | 4:51 pm
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Default Re: UK pension transfer

For state pensions: You can choose to 'transfer' your UK pension to Italy (or viceversa) and get a larger pension. This only makes sense if you dont have enough contributions in either country to qualify for a full state pension. If for example you have 18 years in the UK and 12 years in Italy it would make sense to amalgamate your pensions to get the maximum payout. However, being Italy they cant tell you how much you will get until you have retired and asked for your pension. You will pay tax in ITaly on your UK pension if it isnt already taxed in the UK.
 
Old May 8th 2025 | 8:35 pm
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Default Re: UK pension transfer

Originally Posted by leopoldot
Hello, has anyone transferred the pension to Italy.
I have read that a pension UK based will be taxed in the UK and then again in Italy. This issue may be avoided by transferring the pension to Italy.
I dont pay any tax in the UK on a company pension.
 
Old May 8th 2025 | 11:28 pm
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Default Re: UK pension transfer

Originally Posted by philat98
I dont pay any tax in the UK on a company pension.
Correct! Only UK gov/civil service pensions are taxed in UK first.
 
Old May 8th 2025 | 11:56 pm
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Default Re: UK pension transfer

Originally Posted by EU.flag
Correct! Only UK gov/civil service pensions are taxed in UK first.
My NHs pension could only be taxed in the UK so was sent to my bank already taxed, I never had to pay anything in Spain.
 

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