Transfer private pension from UK to US
Jul 11th 2018, 1:11 pm
#1
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Thread Starter
Joined: Mar 2018
Location: Dallas, Tx
Posts: 142
Transfer private pension from UK to US
Hi all,
I am leaving The UK permanently and I got to know you can move your private pension (mine is with Tower Watson) from UK to US. I am not planning to be back in UK (never say never though), so looking at the option to move it to US.
Has someone done it? or you guys just leave it in UK and start the US pension, so when retiring you get money from both plans?
Remember this is a private pension, not talking about the public UK pension.
Cheers!
I am leaving The UK permanently and I got to know you can move your private pension (mine is with Tower Watson) from UK to US. I am not planning to be back in UK (never say never though), so looking at the option to move it to US.
Has someone done it? or you guys just leave it in UK and start the US pension, so when retiring you get money from both plans?
Remember this is a private pension, not talking about the public UK pension.
Cheers!
Jul 11th 2018, 7:09 pm
#2
BE Forum Addict
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,129
Re: Transfer private pension from UK to US
Hi all,
I am leaving The UK permanently and I got to know you can move your private pension (mine is with Tower Watson) from UK to US. I am not planning to be back in UK (never say never though), so looking at the option to move it to US.
Has someone done it? or you guys just leave it in UK and start the US pension, so when retiring you get money from both plans?
Remember this is a private pension, not talking about the public UK pension.
Cheers!
I am leaving The UK permanently and I got to know you can move your private pension (mine is with Tower Watson) from UK to US. I am not planning to be back in UK (never say never though), so looking at the option to move it to US.
Has someone done it? or you guys just leave it in UK and start the US pension, so when retiring you get money from both plans?
Remember this is a private pension, not talking about the public UK pension.
Cheers!
Jul 11th 2018, 7:51 pm
#3
Lost in BE Cyberspace
Joined: May 2010
Location: San Diego, California
Posts: 9,652
Re: Transfer private pension from UK to US
Did the same as Durham Lad. People used to talk about QROP's to move UK private pensions to the US, but no-one ever said they had actually done it.
Keep a UK bank account open.
Keep a UK bank account open.
Jul 11th 2018, 8:59 pm
#4
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,965
Re: Transfer private pension from UK to US
+3
Jul 11th 2018, 9:21 pm
#5
Concierge
Joined: Apr 2001
Posts: 46,382
Re: Transfer private pension from UK to US
As others have said, keep a bank account open in the UK. You are not coming to the US permanently. You and your wife will be in the US on L visas and even if your company has promised to sponsor you for a green card in the future, there is no guarantee that they will do so or that you will be successful in the endeavor. Also this year has seen several L recipients be made redundant and have had to leave the US. One with only being here for a year. Wise to keep your options open just in case.
Jul 11th 2018, 10:34 pm
#6
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Joined: Jan 2014
Location: Anchorage, AK, USA
Posts: 1,347
Re: Transfer private pension from UK to US
As others have said, keep a bank account open in the UK. You are not coming to the US permanently. You and your wife will be in the US on L visas and even if your company has promised to sponsor you for a green card in the future, there is no guarantee that they will do so or that you will be successful in the endeavor. Also this year has seen several L recipients be made redundant and have had to leave the US. One with only being here for a year. Wise to keep your options open just in case.
Jul 11th 2018, 10:49 pm
#7
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Thread Starter
Joined: Mar 2018
Location: Dallas, Tx
Posts: 142
Re: Transfer private pension from UK to US
Thanks all for your suggestions! I will consider, at least you said L is non-perm, hence risky to move.
However not likely to come back to The UK, if L gets taken away I would consider other options (maybe the continent; France, Spain or Asia), hence my question.
However, never say never.
cheers!!
However not likely to come back to The UK, if L gets taken away I would consider other options (maybe the continent; France, Spain or Asia), hence my question.
However, never say never.
cheers!!
Jul 12th 2018, 12:57 am
#8
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Joined: Jan 2014
Location: Anchorage, AK, USA
Posts: 1,347
Re: Transfer private pension from UK to US
Fair enough, but you don't want to hold a US pension in those countries either.
Jul 16th 2018, 3:39 pm
#9
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Thread Starter
Joined: Mar 2018
Location: Dallas, Tx
Posts: 142
Re: Transfer private pension from UK to US
True!
Just trying to harmonise and have all under the same umbrella, but it seems difficult.
Cheers
Just trying to harmonise and have all under the same umbrella, but it seems difficult.
Cheers
