Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

Accessing UK Pension

Accessing UK Pension

Old Dec 18th 2018, 8:33 pm
  #1  
Lost in BE Cyberspace
Thread Starter
 
Hotscot's Avatar
 
Joined: Jun 2011
Location: Los Angeles
Posts: 6,156
Hotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond repute
Default 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.
Hotscot is offline  
Old Dec 18th 2018, 8:56 pm
  #2  
Lost in BE Cyberspace
 
Boiler's Avatar
 
Joined: Mar 2004
Location: Colorado
Posts: 32,957
Boiler has a reputation beyond reputeBoiler has a reputation beyond reputeBoiler has a reputation beyond reputeBoiler has a reputation beyond reputeBoiler has a reputation beyond reputeBoiler has a reputation beyond reputeBoiler has a reputation beyond reputeBoiler has a reputation beyond reputeBoiler has a reputation beyond reputeBoiler has a reputation beyond reputeBoiler has a reputation beyond repute
Default 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.
Boiler is offline  
Old Dec 19th 2018, 8:53 pm
  #3  
BE Forum Addict
 
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 2,445
durham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond reputedurham_lad has a reputation beyond repute
Default 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.
durham_lad is online now  
Old Dec 19th 2018, 9:58 pm
  #4  
Lost in BE Cyberspace
Thread Starter
 
Hotscot's Avatar
 
Joined: Jun 2011
Location: Los Angeles
Posts: 6,156
Hotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond reputeHotscot has a reputation beyond repute
Default Re: Accessing UK Pension

Good info. Thanks.
Hotscot is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.