British Expats - Accessing UK Pension

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Hotscot

Dec 18th 2018 8:33 pm

Accessing UK Pension

I have a small occupational pension back in the UK.

Now that I'm an old bloke, over 55, can I access some or all of it?
(I've seen articles that suggest 25% tax free and the rest will be taxed, though not sure what rate and what tax body.

Just concerned I'll forget about it some day. Hoped to shove it in with all my other ill-gotten assets.

scrubbedexpat099

Dec 18th 2018 8:56 pm

Re: Accessing UK Pension

Presumably you get an annual update from the Pension Provider, they should be able to tell you if you can collect early and if so what the reduction would be.You would be taxed at your highest marginal rate.

durham_lad

Dec 19th 2018 8:53 pm

Re: Accessing UK Pension

I started taking one of my UK private pensions early while I was living in the USA. It was before any lump sums were available so I can’t speak to that. When reporting it each year I submit it on a substitute 1099-R. I also completed and filed form 2002 so that HMRC does not deduct taxes.

Hotscot

Dec 19th 2018 9:58 pm

Re: Accessing UK Pension

Good info. Thanks.:thumbup:

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