# UK company pensions



## Brightfuture (Nov 9, 2010)

Do you know of anyone who paid into a UK company pension that does not live in the UK anymore?

Many thanks in advance


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## Elphaba (Jan 24, 2008)

Brightfuture said:


> Do you know of anyone who paid into a UK company pension that does not live in the UK anymore?
> 
> Many thanks in advance


There are strict rules regarding pension contributions whilst you are non-resident.

For private plans - you may contribute up to £3,60 gross per annum for up to five tax years, provided (including group personal/stakeholder pensions) the plan was in force before you became non-resident.

For company plans, the company can make contributions for an employee who has been seconded overseas. An employee cannot contribute, but can set up a 'salary exchange' arrangement with the employer.

I hope that helps.


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## Veronica (Apr 5, 2008)

Brightfuture said:


> Do you know of anyone who paid into a UK company pension that does not live in the UK anymore?
> 
> Many thanks in advance


Are you asking if you can carry on paying into a UK company pension or whether you can get your pension paid here?
If you are asking whether you can get your pension paid the answer is yes although it might have to be paid into a UK bank account.
My husband has a company pension which is paid into our UK account and transferred as and when we want some. 

Regards
Veronica


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## Elphaba (Jan 24, 2008)

Veronica said:


> Are you asking if you can carry on paying into a UK company pension or whether you can get your pension paid here?
> If you are asking whether you can get your pension paid the answer is yes although it might have to be paid into a UK bank account.
> My husband has a company pension which is paid into our UK account and transferred as and when we want some.
> 
> ...


UK pensions can be paid into overseas accounts, but the issue is with currency conversion.


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## dorsetfam (Nov 24, 2010)

Depending on the size of the company they may be able to make the transfer of a pension in payment in euros to a cyp account (met police do this for example)


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## xen (Oct 31, 2010)

Brightfuture said:


> Do you know of anyone who paid into a UK company pension that does not live in the UK anymore?
> 
> Many thanks in advance



You can transfer your pension to a Qualified Recognised Overseas Pension Scheme – QROPS.
Firstly do not in any circumstances use a QROPS if you’re planning to move back to the UK to retire.
Make sure it is recognised by HMRC they will need to approve the scheme before you can transfer it to a provider, usually no problem with Cyprus.
If the main two points are met then it’s worth getting more information and advice from a qualified financial consultant.


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## philly (Feb 5, 2010)

xen said:


> You can transfer your pension to a Qualified Recognised Overseas Pension Scheme – QROPS.
> Firstly do not in any circumstances use a QROPS if you’re planning to move back to the UK to retire.
> Make sure it is recognised by HMRC they will need to approve the scheme before you can transfer it to a provider, usually no problem with Cyprus.
> If the main two points are met then it’s worth getting more information and advice from a qualified financial consultant.


You need a SIPP that still comes under Her Majestys Pension Scheme and if before the age of 75 you decide you are not going back then you can look at a QROP but as the poster above said DO NOT take a QROPS if there is the slightest chance you may return


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## Alex100 (Dec 15, 2010)

Hi Philly,
Do you know any accounts/lawyers or ex company directors looking for advisory roles.
Thanks, Alex


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## xen (Oct 31, 2010)

Veronica said:


> Are you asking if you can carry on paying into a UK company pension or whether you can get your pension paid here?
> If you are asking whether you can get your pension paid the answer is yes although it might have to be paid into a UK bank account.
> My husband has a company pension which is paid into our UK account and transferred as and when we want some.
> 
> ...


Hi Veronica

How can I reply to your message? 

Xen


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## Veronica (Apr 5, 2008)

xen said:


> Hi Veronica
> 
> How can I reply to your message?
> 
> Xen


You don't have enough post yet to access private messaging. Another couple of posts andyou will be able to send private messages.

Veronica


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