Transferring your overseas pension to the UK

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Transferring Large Money Pensions to the UK

At Regency FX we help you achieve the most from the currency you are converting from your overseas pension to the UK. We can also guide you when it comes to any monies owed by British pensions to overseas residents.

As an independent currency specialist, we have lower overheads than the banks enabling us to pass on the savings to you which can offer you significant additional income when transferring your overseas pension to the UK.

We can also discuss and agree on the right time to exchange your money rather than using a bank or online-only system and having to accept the rate they give you on the day. Worth knowing if you are planning to transfer overseas pensions to the UK.

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A guide on transferring your overseas pension to the UK.

In this article I will explain how to transfer your overseas pension back to the UK if you have been living and working abroad and are coming back to the UK.

Continue reading for more information on transferring your overseas pension to the UK. We explain: if you are eligible to transfer your overseas pension to the UK and the alternatives, how overseas pension transfers to the UK work, your options if the overseas pension cannot be transferred to the UK and how to claim refunds on British pensions for overseas residents.

Are you eligible to transfer your pension to the UK?

This varies depending on your pension provider and other circumstances. You can transfer pensions to the UK, but you just need to meet the criteria. The UK only accepts pension transfers from a recognised overseas pension scheme (ROPS).

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How to transfer the pension?

What you will need to do first is to get lots of information regarding the overseas pension scheme you are currently with as different countries have different rules, so it is good to know what the rules of your pension are before trying to take it to the UK.

A key thing to do is to check to see whether your current pension is on the HMRC ROPS list, it will make it a whole lot easier if it is on this list.

After this, the next step is to gather information about the new scheme in the UK that you want to transfer it over too, to check their rules and policy.

The best thing to do if you are unsure on the process if to talk to an expert in this area as they will be able to give you all the information you need, and they may even be able to guide you through the process.

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What if you cannot transfer the pension?

If it causes too much hassle to get your pension to the UK, then another option is to leave it in the country it is currently in and get payments in your bank account in that country and just transfer them over to a UK bank account.

By using this method, you need to look out for charges involved when changing the currency of the money as the banks tend to charge stinger fees in this department. Companies such as ourselves at Regency FX can assist you with transferring the money over and we do not have hidden fees and costs.

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Claiming pension refunds in the UK

The best thing to do is to get in touch with your pension provider before you do anything as they will know if you can get a refund or not and they can guide you on how to do it. Also, before you try and claim you refund it is a good idea to get in contact with an expert in this area as they can assist you with how you should go about things and help you move the money abroad.

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Who are we?

Regency FX are a UK based independent currency broker, specialising in high volume transfers.

We pride ourselves on our premium level of customer service, you will be allocated your own personal account manager whom you will have direct access to.

All funds transferred through Regency FX are made using client segregated accounts in accordance with the FCA (Financial Conduct Authority) guidelines.

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The important thing is the comparison, online rates shown on Google and other search engines are not always accurate for the consumer.

They can often refer to the rates that banks exchange at rather than what is available to you, the customer.

Even if you are just looking for property at this stage it is worth getting in touch to discuss your options.

We can monitor the market on your behalf enabling you to budget more effectively.

As a first-class currency transfer service, here at Regency FX we endeavour to get the best available rate regardless of how much you are transacting.

Get a quote and see how we stack up.