Jump to content

Will Canada Pension Plan Transfer Monthly Benefit to a Thai Bank?


pegman

Recommended Posts

With all this speculation  about embassies no longer providing income letters I was wondering if anyone knows or has personal experience with having their CPP transferred directly to a Thai bank? 

Link to post
  • 3 weeks later...

I also would like to know the answer to your question. I did see this expat-written article about CPP in Thailand.

 

Info 

 

I also found this page:

 

CPP page

 

They have a broken link that was supposed to point to the list of countries eligible for direct deposit.

 

Another edit:  Online PDF form to setup Direct Deposit shows a phone # for Thailand

PDF form to apply

 

I did call the 1-613-941-6402 number given on the last page of the form.  The person that answered thought the answer is affirmative, but suggested a call to Service Canada for a definitive answer.

 

Breaking news:  my fourth edit to my post

I was able to see the cached copy of the page pointed to by broken link mentioned earlier.  That page says direct deposit to Thailand was/is available.  Perhaps the link is broken because the list of eligible countries is changing.  I do recommend a call to Service Canada.

 

Gamb00ler

Link to post
5 hours ago, gamb00ler said:

I also would like to know the answer to your question. I did see this expat-written article about CPP in Thailand.

 

Info 

 

I also found this page:

 

CPP page

 

They have a broken link that was supposed to point to the list of countries eligible for direct deposit.

 

Another edit:  Online PDF form to setup Direct Deposit shows a phone # for Thailand

PDF form to apply

 

I did call the 1-613-941-6402 number given on the last page of the form.  The person that answered thought the answer is affirmative, but suggested a call to Service Canada for a definitive answer.

 

Breaking news:  my fourth edit to my post

I was able to see the cached copy of the page pointed to by broken link mentioned earlier.  That page says direct deposit to Thailand was/is available.  Perhaps the link is broken because the list of eligible countries is changing.  I do recommend a call to Service Canada.

 

Gamb00ler

Great, tks for the info. 

Link to post
Quote

I was wondering if anyone knows or has personal experience with having their CPP transferred directly to a Thai bank? 

As pointed out in this thread, yes, it can be done.

 

Now, the quirk with retirement monies is, can Thailand tax those monies? Fortunately for Canadians, even if brought into Thailand in year earned (which a direct deposit would indicate up front), the tax treaty says "no."

 

Quote

 Pensions and other similar remuneration, whether they consist of periodic or non-periodic payments, for past employment, arising in a Contracting State and paid to a resident or the other Contracting State shall be taxable only in the first-mentioned State.

And no differentiation between government and private pensions, which is fairly unique amongst tax treaties (US gov't pensions escape Thai taxation, but private pensions do not -- if brought into Thailand in year paid).

Link to post
19 hours ago, JimGant said:

As pointed out in this thread, yes, it can be done.

 

Now, the quirk with retirement monies is, can Thailand tax those monies? Fortunately for Canadians, even if brought into Thailand in year earned (which a direct deposit would indicate up front), the tax treaty says "no."

 

And no differentiation between government and private pensions, which is fairly unique amongst tax treaties (US gov't pensions escape Thai taxation, but private pensions do not -- if brought into Thailand in year paid).

Thanks Jim. 

Link to post

Archived

This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...