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Search: Posts Made By: Hurlabrick
Showing results 1 to 13 of 13
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Forum: Canada
Feb 5th 2019, 11:15 pm
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

That is about as specific as she can get. But I fears hers was a one off error in her favour by CRA and not a precedent (as subsequent posts on the same thread have said). Great for Steph, but...
Forum: Canada
Feb 5th 2019, 10:51 pm
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

there is a section in that wiki page on precisely what you are looking for, check the content links on the page, stephs screen shots of the letter she got is there (i wrote the page)
Forum: Canada
Jan 27th 2019, 6:33 pm
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

You could consider not taking your pension until you are 65, depends on your other sources of income though of course. As my financial adviser said 'don't let the tax tail wag the dog' - still galls...
Forum: Canada
Jan 26th 2019, 9:05 pm
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

It depends on how old you are AIUI. I spoke to my Canadian tax accountant and she tells me that I cannot split pension income while I am under the Canadian state pension age (which I assume is 65, I...
Forum: Canada
Jan 26th 2019, 6:22 pm
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

I have now suitably updated the wiki section to reflect this. See here:

http://britishexpats.com/wiki/Transferring_UK_Pensions_to_Canada#25.25_Tax_Free_Lump_Sum
Forum: Canada
Sep 1st 2018, 8:54 pm
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

Stef has emailed me jpg's of the relevant portions of the CRA letter. I will updated the wiki as appropriate in the next few days when I get back from the current road trip!
Forum: Canada
Sep 1st 2018, 1:09 pm
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

If you want to email me your scanned letter, I will black out the personal stuff and upload it to wiki and make a suitable entry.

I am certain that no one is calling you a liar, Joneboy was saying...
Forum: Canada
Aug 6th 2017, 11:13 am
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

Oh yes - big time!
Forum: Canada
Jul 25th 2017, 8:18 am
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

I know this type of product. It is NOT a 5% annual 'tax free' withdrawal, it is 'tax deferred' for a maximum of 20 years. You would pay tax in the UK, albeit after 20 years. The idea being that you...
Forum: Canada
May 28th 2017, 4:03 pm
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

Yes you are right. That is called an UFPLS (Uncrystallised Funds Pension Lump Sum). So yes, 25% is tax free and the remainder is taxed at your marginal rate for that year (so if the 75% is say...
Forum: Canada
May 20th 2017, 3:21 pm
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

Excellent reasons, but the reason I said it was dumb not to take it is precisely because it is tax free. If someone said to you:

1. You can have £100k which pays out over the rest of your life...
Forum: Canada
May 20th 2017, 12:45 pm
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

Just to chime in, yes 25% is the maximum that can be taken from the pension proceeds as a tax free lump sum in the UK (aka PCLS - Pension Commencement Lump Sum) - this is for money purchase pots. ...
Forum: Canada
May 18th 2017, 7:46 am
Replies: 143
Views: 54,208
Posted By Hurlabrick

Re: READ ME. PENSION RULES UK to Canada

Very, very interesting and good for you sticking to your guns!


I meekly made the assumption that if I transferred my UK Personal Pension to Canada, then I could kiss goodbye to any 25% PCLS,...
Showing results 1 to 13 of 13


 
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