UK pensions transfer tax

Last activity 25 September 2017 by Raj18

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kenivanNew member22 September 2017 20:37:54

Good evening. We have been planning our retirement to Mauritius. We are currently SA citizens living in SA, planning to relocate to MU in 6 months or so. Our pensions are sterling based in UK. The British Government introduced a "transfer tax" on all pensions transferred outside the UK effective March 2017. Is anyone going through the same problem? I.E. planning their retirement only to deal with the shock of 25% UK transfer tax on their pension? Does anyone in MU have any advice or experience to offer? Apparently the UK Government does not charge the tax if the pension is transferred to a QPRO scheme? Any advice or information or contact appreciated. Thank you

Raj18Active member24 September 2017 09:23:08

Afraid I cannot offer advise as have no expereince or knowledge but I too would be interested to find out more on this topic.

kenivanNew member24 September 2017 09:44:52

Thank you for your reply. If you Google UK government pensions transfer tax....you get to the proprt UK Government tax Web page. From there you can search for MU approved QPROS. There are only 2.

Raj18Active member25 September 2017 17:24:33

Thank you. I will have a look...

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