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Lincoln Imp
Testing The Water
Joined: 24 May 2004
Posts: 8
Location: Lincoln, UK
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Posted: Wed Jun 09, 2004 5:25 am Post subject: Service Pensions |
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Any ex-forces personnel moved out ?? If so, any idea about pension payments ? I'm going to try and get some info from PayMaster but wanted an idea from someone with experience.
Curious as to whether emigrating effects Pension Rights and about taxation. I think that you can just get it paid into NZ bank account and pay NZ tax on it. 
Any thoughts/comments ?? |
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Rob P
Testing The Water
Joined: 20 May 2004
Posts: 6
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Posted: Wed Jun 09, 2004 6:07 am Post subject: Re: Service Pensions |
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| Lincoln Imp wrote: | Any ex-forces personnel moved out ?? If so, any idea about pension payments ? I'm going to try and get some info from PayMaster but wanted an idea from someone with experience.
Curious as to whether emigrating effects Pension Rights and about taxation. I think that you can just get it paid into NZ bank account and pay NZ tax on it.
Any thoughts/comments ?? |
I`m not ex-forces but I do get an occupational pension and when I contacted the tax office I was told it would be taxed in the UK as it originated in the UK and I`m a UK citizen.
I think yould be better off being taxed in the UK because you get your personal tax allowance, in NZ it would all be liable for tax as there is no tax free allowance, everything from zero is taxed at 19%.
Rob |
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Lincoln Imp
Testing The Water
Joined: 24 May 2004
Posts: 8
Location: Lincoln, UK
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Posted: Wed Jun 09, 2004 7:03 am Post subject: Service Pension |
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would the UK TAX people continue to tax me as though I was still resident in UK ?
Do you get taxed then paid into NZ bank or taxed UK then paid into UK bank and access from NZ as/when? |
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Rob P
Testing The Water
Joined: 20 May 2004
Posts: 6
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Posted: Wed Jun 09, 2004 8:30 am Post subject: |
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According to the tax man, my ex employer will deduct tax from my pension before it gets to a bank account, just like PAYE, whether it`s paid into a UK account or an NZ one.
I don`t always tust the tax man so if anyone`s been told anything different let us know.
Rob. |
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