Does anyone know?
#1
BE Forum Addict
Thread Starter
Joined: Jan 2008
Location: Near Kingston, Ontario
Posts: 1,318
Does anyone know?
Does anyone know if its possible to have whatever State pension you are to claim in UK transferred to CPP? Is there a mutual agreement in this regard? Also if we then decided to move back to UK, would we be able to transfer the CPP to the UK pension equivalent?
#2
Onwards and upwards!
Joined: Dec 2009
Location: North West UK
Posts: 288
Re: Does anyone know?
I think there is some agreement but not sure how it works...i would ask someone on the Canada thread they will no doubt let you know as i'm sure there are some that are claiming pension in Canada.
#3
Re: Does anyone know?
Unless things have changed, a UK pension is not inflation linked in Canada. IOW, if you get 100 pounds when you move tomorrow, it'll be 100 pounds ten years from now, twenty years etc.
Bev
Bev
#4
Forum Regular
Joined: Nov 2008
Location: Canada
Posts: 202
Re: Does anyone know?
If you move to the UK, you UK pension will then be paid to you at the current rate and is index linked, and you will pay UK tax on it. You will also receive your CPP in the UK and it is index linked. You will not have to pay any Canadian tax on your CPP if you are no longer a Canadian resident, as there is a tax treaty between Canada/UK.