Sorry - UK pensions again
 

I have read through the threads on this subject, all very interesting. What I want to know from those that have managed to apply through INSS and now receive their UK pension, how long did the process take? Was it fairly straightforward? Is it best to use a gestor or try to do it yourself?
Thanks folk.

Re: Sorry - UK pensions again
 

Would love to know if QUORPS is worth considering as well. Have seen the adverts but still not sure what it even is.

Re: Sorry - UK pensions again
 

... I've just moved my UK (personal) pension to a QROPS scheme.

I am 52 and live permanently in Spain.

I had to make the move prior to April so that I could take the 25% lump sum before the age limit changed.

I also wanted the opportunity (if I wish) to take the full, remaining sum when I have lived abroad for 5 consecutive tax years .

I have managed to secure a scheme where I have been able to take the 25% cash sum and will also be able to take the rest without the need to buy an annuity or any such stupidity.

I can't advertise on here, but if anyone wants to know the name of the company in Spain that did this, then send me a PM.

Re: Sorry - UK pensions again
 

They sound like bad news to me

http://www.costa-action.co.uk/conten...Blevins_Franks

Re: Sorry - UK pensions again
 

The main point they make is that the lump sum is taxable if you are a Spanish tax resident - most of the QROPS sellers don't tell you that!

The other advantage that you do not have to convert the fund to an annuity at 75 is about to be changed in the UK - it's part of the government's new manifesto.

Annuities are actually good news in Spain because you pay virtually no tax on them.

Re: Sorry - UK pensions again
 

My original question is concerning UK State Pension that must be applied for through INSS in Spain when SS payments have been made into the spanish system too. In previous threads forummers (not sure if that is a word or not?) have mentioned they have done this, so I was hoping to get some feedback on the difficulty or ease, and the time it took???

Re: Sorry - UK pensions again
 

Thanks for the link - a very interesting article

Re: Sorry - UK pensions again
 

My wife age 62 just applied for her U.K. pension (she is still employed in Spain). We did it through a gestor, which cost 65 euros. So far no problems - we phoned the DWP after a few weeks and the spanish paperwork has reached them. The DWP will send information back to Spain to enable the INSS to assess her separate Spanish pension entitlement, which won't be paid until she is 65. Contributions in other e.u countries count towards the 15 year minimum spanish requirement.

A colleague of hers applied without using a gestor and it took 4 or 5 visits to the INSS office and in fact her papers never reached the DWP - the INSS helpfully refused to send a copy- and she ended up completing the application direct with the DWP. I am not linking her problems to not using a gestor but I think it is worth using one, even if just to avoid the waiting in line.

Just one thing worth mentioning if you decide to use a gestor - ours initially told us we were wrong about having to apply through the spanish system - they had never had a case before! However once they had checked with INSS that we were right they went ahead very efficiently.

Re: Sorry - UK pensions again
 

Thank You Petew, I feel a bit more optimistic now.

I am an autonomo here and still paying into the SS system, but I want to apply for my UK state pension (due in July). I have been absolutely dreading it as anything I try to do in the spanish system is so long-winded. I think I will go to a gestor, as I can't afford time out for visits to INSS. I expect they will need every bit of paper ever issued, and more!!

Re: Sorry - UK pensions again
 

Can I apply for the UK state pension through DWP in UK & not use the Spanish system? I've only contributed to the UK system & not Spanish.
I'm in UK now & will fill in the form with the necessary documents & I'm going to ask my daughter to send in the form in January 2011 in UK. I'm hoping to move to Spain this July. Thanks.

Re: Sorry - UK pensions again
 

The rule is that you must apply through the SS system of the country where you last contributed - so no problems for you ForHotspot. My OH applied for the UK State Pension through DWP from Spain and it came through within two months with no problems.

Re: Sorry - UK pensions again
 

Only one minor complication I forgot to mention. The INSS would only accept details of a bank in Spain - for the eventual Spanish pension. If you want your U.K. pension paid into a U.K. account you will have to contact the D.W.P. (once they have received your papers from Spain) and give them the U.K. bank details.

Re: Sorry - UK pensions again
 

I am just trying to start the process of applying through INSS for my pension. I have looked at what I think is the form on the website - 7 pages and 3 pages of notes!! So I thought I would do as Petew did and use a Gestor. The first one I visited said they would look into it and get back to me. One week on I have just had an email stating they will charge me 350 euros to complete the application as "it is quite complicated".:eek: I have mailed back to say that I will try to find someone else to help me as their charge is ridiculous, and certainly not something I would pay out for this.
So tomorrow I am trying the next Gestor. Ideally I want to find one that has already done this before and they know what they are doing.
So fingers crossed for tomorrow.

Re: Sorry - UK pensions again
 

You apply in the country you last contributed in. So in your case, it will be the UK.

I was in the same position as you , even though I had lived in Spain for five years. Because I had not contributed there I applied for my Pension by phone whilst in the UK. They didn't mind me appying by phone in September although I was not 60 until the end of January. They did everything over the phone, told me how much it would be and when the first payment would be, and there were no hiccups whatsoever. I received my first payment on February 1st 2010 which was the day they said.

Re: Sorry - UK pensions again
 

My gestor charged 65 euros.