UK private pensions

Last activity 29 July 2018 by Alison 2270

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Alison 2270Member28 July 2018 20:26:35

Hello to all. I'm in need of some advice and help relating to UK pensions. I'm due to receive access to my private pension pot. However I understand that I need a UK bank account to pay this into. I've lived in Egypt now for 12 years and have no UK Bank account or UK address. This means I can't open a UK bank account!

Am I able to authorise my private pension payout into a family members bank account in order for them to send it on too me here.

Or do I have to habitually reside again in UK, apply for utility bill as proof of address just to open Bank account to receive my money?

FredIndonesia Expert28 July 2018 22:50:44

28291

Private pensions plans vary in rules but the one I'm going to take a lump sum on are pretty strict. They want lots of ID and other paperwork but the good news is they'll pay to any bank, anywhere in the world, as long as you can prove the account is yours. Mine want a bank statement with address along with proof I live at there.

As I've just moved and have yet to get my new ID card, I can't do much at the moment but will be able to sort it out in the near future.

Related is tax, something you might well have to pay regardless of your status in the UK, then claim back later.
I'm trying to find out if there's a way round the tax for non UK residents (Defined here) but tax can be claimed back if you have to pay it

https://www.gov.uk/government/publicati … mp-sum-p53

Alison 2270Member29 July 2018 14:46:14

Thanks Fred. I will call them to see if it's acceptable to send direct to me here in my account in Cairo. It would be fantastic if that's the case and save me £££ plus time and convenience.

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