Retirees
Pension Payments when Living Abroad
If you are residing abroad and would like to have your pension paid in local currency, Citibank offers a facility 'WorldLink' to enable this in most foreign countries.
There is a small charge for making payments in this way which is currently £2.00 per month and this is deducted from your net pension. At present, this charge is lower than arranging a banker’s draft or UKForex foreign exchange services.
Although your pension will still be paid on the 6th of the month (or the next working day if the 6th falls at a weekend or a bank holiday) you will need to allow a few extra days after this for your pension to be in your foreign account. You'll also need to take into account any delays that may be caused by local Bank Holidays.
To set up WorldLink payments, you will need to complete a mandate that depends on the country in which the payments will be made. You can get the mandate and more information from Pensions Services.
You will also need to complete the HM Revenue & Customs form P85 to claim tax relief or repayment of UK tax.
Last Updated: 27/01/2010
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