# Pension



## skiaddict (Jan 1, 2011)

Hi, I'm in the British Army and looking to settle in Canada with my family when I leave the Forces in Dec 12. Can anyone give me advice on pension matters please?


----------



## fletcher m (May 9, 2012)

skiaddict said:


> Hi, I'm in the British Army and looking to settle in Canada with my family when I leave the Forces in Dec 12. Can anyone give me advice on pension matters please?


What do you want to know, there is no one line answer. it is complicated and you will pay canadian tax on your army pension. You gratuity will also be taxed if you arrive in canada before you receive you gratuity.

UK State pension will still be paid to you when you reach 67 or whatever the age is now, but frozen without any increase for inflation. you will get 26/30ths of the pension.


----------



## tommo121 (May 14, 2012)

Hi Skiaddict. British Armed Forces pensions are unfunded schemes. In short, there is no money in the scheme, tax payers and armed forces personnel pay for pensions of those retired. You therefore cannot do QROPS i.e. you cannot transfer it overseas. Your Armed forces pension will be paid as if you are in UK i.e. subject to UK taxes before you get it even when leaving UK. Likewise, your state pension is the same. This is not the same as private pensions that can be transferred overseas. State and Military pension payment - They will be able to send the money overseas to you to an overseas account, but it will have already been taxed subject to UK tax rules as I say. 
If you want some more advice try here. expatadvice[dot]com/html/article.php/zcid/1363/type/article/finance/Expat_Emigration_Leaving_the_UK


----------



## Brockthebadger (May 11, 2012)

Hi
I worked for NHS and received a pension paid into our UK bank but without tax as I declare it and pay Canadian Tax on it. They have recently been allowed to pay me in Canadian dollars directly into our Canadian account. I believe it is the same type of pension s the previous post has said ie an unfunded penssion.

Hope that helps


----------

