What happens to pension after emmigration

[Lewis]

Anyone know what happens to your state and personal pension if you move permanently abroad (to Switzerland)? Are you still entitled to the state pension (assuming you have enough qualifing years)? What happens to contracted-out (S2P) amounts in your personal pension? Anything else I should be aware off?

[BrilloPad]

http://forums.contractoruk.com/659601-post4.html

I wonder how many other countries have similar arrangements?

When I was thinking about emigrating 5 years ago I want to a couple of shows - retirees were being heavily targeted.

[Lewis]

Found all the info I wanted here:

http://www.pensionsadvisoryservice.o...ving_Overseas/

[NotAllThere]

Did you read this bit?

In addition, you may be entitled to a State Pension from your country of residence if you are contributing to its State Pension scheme.

This is definitely the case in Switzerland. You won't get your UK state pension here, you'll get the Swiss state pension. ( Pillar one ). You need to declare any other pension funds you have in the UK.

Do you know how the Swiss pension system works ( three pillars? ). If not, you should find out pretty quick.

[Lewis]

Did you read this bit?

This is definitely the case in Switzerland. You won't get your UK state pension here, you'll get the Swiss state pension. ( Pillar one ). You need to declare any other pension funds you have in the UK.

Do you know how the Swiss pension system works ( three pillars? ). If not, you should find out pretty quick.

I read this "The UK State Pension can be paid to you even though you are living abroad temporarily or permanently. If your payment is made by direct payment into your bank or building society, this can continue but you should let the Pension Service know when you are going to leave the UK. "

The bit you quoted seemed to me to be saying you could gain qualifing years for a UK pension whilst working in another country plus you could also on top of that be eligible for a pension from that country as well. i.e. the full text being

"National Insurance Contributions paid whilst you are living in Northern Ireland or the Isle of Man will count towards your State Pension. Likewise if you live in, or pay into the social security system of, an EEA country, Switzerland or a country that has a reciprocal social security agreement with the UK, then your contributions there (or residence) may help you to meet the contribution conditions for a UK State Pension. In addition, you may be entitled to a State Pension from your country of residence if you are contributing to its State Pension scheme."

It seems to me therefore that if I retired to Switzerland then I can get my state pension from the UK (amount depends upon qualifying years). I can see nothing that says you don't get the UK state pension but instead the Swiss one, correct me if I am wrong.

[NotAllThere]

A mis-reading on my part.

http://www.basel.ch/files/downloadfi...rity%20DEF.pdf

It looks like you'll get the Swiss pension and UK pension, according to your contributions in the two countries.

[Lewis]

A mis-reading on my part.

http://www.basel.ch/files/downloadfi...rity%20DEF.pdf

It looks like you'll get the Swiss pension and UK pension, according to your contributions in the two countries.

No worries. I was worried I might lose my UK pension but sounds like I won't which is good news. If banking contracts dry up here completely we might relocate for a while/forever. How is the credit crisis affecting work over there out of interest?

[NotAllThere]

I've not noticed any adverse effect so far. Maybe banking contractors are having trouble, but I don't know any of those.