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Taking UK pension lump sum

Taking UK pension lump sum

Old Feb 12th 2018, 5:21 pm
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Default Taking UK pension lump sum

I'm having trouble getting good info on taking my Prudential personal UK pension as a lump sum. It's value is only about $16,500. I only have USA bank accounts, one person at the Pru said it shouldn't be a problem but an advisor here seems to think the Pru probably won't transfer the money to a USA account. Anyone on here had experience of this? I have sent an email to the Prudential but they say they will reply by mail and goodness knows how long that will take.
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Old Feb 12th 2018, 6:08 pm
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Default Re: Taking UK pension lump sum

Originally Posted by UKGIRL55 View Post
I'm having trouble getting good info on taking my Prudential personal UK pension as a lump sum. It's value is only about $16,500. I only have USA bank accounts, one person at the Pru said it shouldn't be a problem but an advisor here seems to think the Pru probably won't transfer the money to a USA account. Anyone on here had experience of this? I have sent an email to the Prudential but they say they will reply by mail and goodness knows how long that will take.
No direct experience, but if they do insist on paying to a UK bank account you could set up a Transferwise Borderless Account to have it paid into, then convert the funds and send it to your US bank account.

https://transferwise.com/us/borderle...e=publicNavbar
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Old Feb 13th 2018, 2:03 am
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Default Re: Taking UK pension lump sum

10 years ago Prudential wouldn't pay my pension into a US account, so it's paid monthly into my UK bank. Of course I have never asked again in the intervening years. MidAtlantic suggests a feasible solution and certainly one I would use if my UK bank decides to close US citizens accounts.
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