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receive your uk pension in ph

receive your uk pension in ph

Old Aug 10th 2022, 8:49 pm
  #16  
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Default Re: receive your uk pension in ph

Originally Posted by Gazza-d
I have mine paid into my HSBC UK account then either online banking drag it into my HSBC Manila account or for a better exchange rate Wise it to out PNB account.
Many thanks.. seems thats the way I should go. Appreciated.
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Old Aug 11th 2022, 7:02 pm
  #17  
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Default Re: receive your uk pension in ph

Originally Posted by Gazza-d
As far as I know the Philippines pension is paid directly into a bank account. My wife's is PNB and MIL is Landbank. I don't know how the UK pension works but I assume you set it up in the UK first. A stipulation is that you become a non dom.
You do not have to surreender your domicile to receive your Uk state pension overseas paid into a local bank account in local currency

https://www.gov.uk/state-pension-if-you-retire-abroad Just as well I no longer have any UK based bank accounts. As I have been out of te Uk for far more than 6 years I am deemed non domicile and not subject to UK income tax or CGT. I am/my estate is still still subject to 40%inheritance tax on my world wide assets on my death

Last edited by mikemike; Aug 11th 2022 at 7:06 pm.
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Old Aug 12th 2022, 2:14 am
  #18  
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Default Re: receive your uk pension in ph

Originally Posted by freebie
the amount is paltry as I only have 10 years of Nat Ins contributions.
If you can, it's worth looking in to making voluntary contributions to get more years - it pays for itself in no time.
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Old Aug 12th 2022, 6:37 am
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Default Re: receive your uk pension in ph

Originally Posted by christmasoompa
If you can, it's worth looking in to making voluntary contributions to get more years - it pays for itself in no time.
I believe it's 6 years you can pay, you will get your money back in 2-3 years. I think it's £700-800 per year.
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Old Aug 12th 2022, 6:46 am
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Default Re: receive your uk pension in ph

Originally Posted by Gazza-d
I believe it's 6 years you can pay, you will get your money back in 2-3 years. I think it's £700-800 per year.
If eligible, you can pay back to 2006, but only until next year when that option goes away - https://www.gov.uk/voluntary-nationa...ions/deadlines

And if eligible for Class 2 contributions, it's only £163.80 a year, so an unbelievable deal and potentially would have paid for itself within approx 6 months for freebie , giving an extra £85(ish) a week.


Last edited by christmasoompa; Aug 12th 2022 at 7:00 am.
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Old Aug 12th 2022, 1:51 pm
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Default Re: receive your uk pension in ph

Originally Posted by christmasoompa
If you can, it's worth looking in to making voluntary contributions to get more years - it pays for itself in no time.
Thanks..i actually only had 7 years so I paid to get it to 10. Worked out that paying the extra years would repay itself in 2-3 years so that seemed a very fair investment . Additional years would have taken a few extra years to recoup the costs so Im good with the 10 years basic.
Will mean my beers ( and beers only ) are probably free for rest of my life. f
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Old Aug 12th 2022, 7:19 pm
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Default Re: receive your uk pension in ph

Originally Posted by freebie
Thanks..i actually only had 7 years so I paid to get it to 10. Worked out that paying the extra years would repay itself in 2-3 years so that seemed a very fair investment . Additional years would have taken a few extra years to recoup the costs so Im good with the 10 years basic.
Will mean my beers ( and beers only ) are probably free for rest of my life. f
Fair enough, I would double check if you can pay Class 2 though, if so for £2600ish you'd get an extra £85 a week, so you'd break even after on that after about 7 months. Would give you £135 a week so you could buy wine as well.
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Old Aug 12th 2022, 9:00 pm
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Default Re: receive your uk pension in ph

Originally Posted by christmasoompa
Fair enough, I would double check if you can pay Class 2 though, if so for £2600ish you'd get an extra £85 a week, so you'd break even after on that after about 7 months. Would give you £135 a week so you could buy wine as well.
I checked and apparently Im class 3. Always was one of lowest in class. Looks like its beer only.
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Old Oct 10th 2022, 2:31 pm
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Default Re: receive your uk pension in ph

Just as an update, called DWP Intl yesterday. Had a very pleasant lady who took all my details etc.
I provided some addresses when prompted as part of " security " but then she apologised and said their records didnt go back beyond 1975 so could I supply and all relevant dates only after 1975.
She then wanted a list of places Id worked outside of UK.. not entirely sure why .. And the dates Id worked there. So this started with my first overseas job back in 1980. Which month did I start..?? Had no idea so guessed a date for all the 9 different countries in which I worked up till 2017.
She wanted to know was it the beginning the middle or the end of March 1980 and similar for all subsequent month/years that I provided. . So as a heads up good to have this prepared/ guessed at in advance if you were out of UK for great lengths of time.
Overall was a pleasant experience , not too arduous at all. She remarked that Id had a very interesting working life, working in so many countries. So hopefully somewhere in mid January I can expect my first pension money from UK Govt.
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Old Oct 10th 2022, 4:37 pm
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Default Re: receive your uk pension in ph

Originally Posted by freebie
Just as an update, called DWP Intl yesterday. Had a very pleasant lady who took all my details etc.
I provided some addresses when prompted as part of " security " but then she apologised and said their records didnt go back beyond 1975 so could I supply and all relevant dates only after 1975.
She then wanted a list of places Id worked outside of UK.. not entirely sure why .. And the dates Id worked there. So this started with my first overseas job back in 1980. Which month did I start..?? Had no idea so guessed a date for all the 9 different countries in which I worked up till 2017.
She wanted to know was it the beginning the middle or the end of March 1980 and similar for all subsequent month/years that I provided. . So as a heads up good to have this prepared/ guessed at in advance if you were out of UK for great lengths of time.
Overall was a pleasant experience , not too arduous at all. She remarked that Id had a very interesting working life, working in so many countries. So hopefully somewhere in mid January I can expect my first pension money from UK Govt.
Lot of questions, last year mine was last couple of work info, last couple of UK addresses.
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Old Oct 10th 2022, 8:05 pm
  #26  
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Default Re: receive your uk pension in ph

Originally Posted by mikemike
You do not have to surreender your domicile to receive your Uk state pension overseas paid into a local bank account in local currency

https://www.gov.uk/state-pension-if-you-retire-abroad Just as well I no longer have any UK based bank accounts. As I have been out of te Uk for far more than 6 years I am deemed non domicile and not subject to UK income tax or CGT. I am/my estate is still still subject to 40%inheritance tax on my world wide assets on my death
Yes of course you can have your UK pension paid into a Philippines bank. What I'm talking about is having the Philippines government pay your pension as part of the reciprocal arrangement.
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Old Oct 10th 2022, 8:39 pm
  #27  
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Default Re: receive your uk pension in ph

I understand that DWP pay direct into your PH account. I'm in the process of changing to that method of payment.
They require your Phils bank details including the banks Swift code which indicates that the Philippine govt plays no part in the process.
They require you to complete their proforma which if you ask nicely they will email it to you.
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Old Oct 10th 2022, 11:24 pm
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Default Re: receive your uk pension in ph

Originally Posted by Bealinehx
I understand that DWP pay direct into your PH account. I'm in the process of changing to that method of payment.
They require your Phils bank details including the banks Swift code which indicates that the Philippine govt plays no part in the process.
They require you to complete their proforma which if you ask nicely they will email it to you.
also if you go direct you do not need to get a TIN
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Old Jan 23rd 2023, 3:31 pm
  #29  
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Default Re: receive your uk pension in ph

Just an update, had my dear sis in England make a cheque out to the wonderful Pension folk for GBP 1648.40 which covers two extra years of Nat Insurance payments . Supposedly the additional amount kicks in 6 weeks from paying in.
One calculation is that this "extra" amount will pay for itself in 3 years and thereafter its gravy.
But even better, hopefully hopefully the additional amount recently paid in will be subject to the 10.1% increase thats due in April.
Fingers crossed. Then the payback is significantly accelerated.
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Old Jan 25th 2023, 4:12 pm
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Default Re: receive your uk pension in ph

I have been callin the hot line everyday for last two weeks and wait for ever to not get an answer
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