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Where Taxpayers and Advisers Meet

Moving to Canada from UK, where to invest pension

Posts: 1
Joined: Tue Nov 14, 2017 5:43 pm

Moving to Canada from UK, where to invest pension

Postby Liam546 » Tue Nov 14, 2017 5:50 pm

I have been offered a transfer with my employer to work in Toronto, Canada. This is a permanent position and at this stage I don’t know whether I’ll retire in the UK or Canada.

Currently I have 4 UK pensions with a combined pot of £34k. I am not sure what to do with these UK pensions when I move to Canada, I’ve read I can leave them, put them into a SIPP or QROPS in Malta or Hong Kong.

I am also not sure whether to invest into an RRSP out in Canada as if I ever return to the UK I understand transferring that RRSP back to the UK or withdrawing it will mean a 25% withdrawal tax. So am I better off doing something else?

Just after some good advice regards my situation if possible?

Posts: 2922
Joined: Sat Feb 01, 2014 3:26 pm

Re: Moving to Canada from UK, where to invest pension

Postby bd6759 » Wed Nov 15, 2017 11:32 am

You need to speak with an IFA.

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