PENSION PLANS?
 

I intend to move to the US and retire WHEN old enough. :)
I have a Norwich Union/Aviva personal pension from work.

What would be the best thing to do with it?

Keep it in the UK and keep a UK bank account open so i can still pay into it,
or move it to a US pension plan?

If i move it over any suggestions on a good pension plan?

Not sure if it matters but i will be living in Pennsylvania.


Thanks.

Re: PENSION PLANS?
 

You will probably find a few older threads on here about UK pensions, if you search for them (there is a search engine in the forum tab)

Is there a Visa that you are eligable for? Have you thought about health insurance over here? There are probably a few things that you would need to clarify on your legal right to move to the US, before members will take the time to answer your questions about your pension;)

Re: PENSION PLANS?
 

Yes sorry should have said.

Yes i have a permanent residence visa, my wife has health ins to cover us both and if i get the job i am looking at they provide health ins also, not sure how good the coverage is though

Re: PENSION PLANS?
 

Depends on the pension...probably best to keep it in the UK and get a 401K when you work in the US.

Re: PENSION PLANS?
 

Do a Google search for "Qualified Retirement Overseas Pension Scheme"

Re: PENSION PLANS?
 

I can give you details of the company we used if you would like to PM me. Good luck with your plans.

Re: PENSION PLANS?
 

1. As the plan is already in existence, you can contribute up to £3,600 gross for the next 5 years, so it might be a good idea to leave an account open and still pay into it. You never know, you might return to the UK...many do.

Whether you do or don't, keep your eye on the plan's investments...don't let it rot.

2. You cannot transfer a UK plan to a US plan. The IRS do not recognise transfers from UK tax relieved funds.

3. Consider starting a US plan depending on your circumstances when you are here.