How to transfer Canadian pension

[Whip]

How to transfer Canadian pension directly to Thai bank account

[metisdead]

Moved to the Banking forum for knowledgeable answers. 

[Pib]

Direct deposit for individuals with a foreign bank account

https://www.tpsgc-pwgsc.gc.ca/recgen/dd/etranger-abroad-eng.html#a4

 

[Inn Between]

Do Canadians have to be in Canada for at least 6 months of the year to qualify for their OAS (Old Age Security) and GIS (Guaranteed Income Supplement)? I know CPP (Canada Pension Plan) is payable regardless of where one is living, but I heard something about the other two not being paid if you're not resident at least 1/2 the year. 

[gamb00ler]

The only requirement for an expatriate to receive OAS is that you need to have lived in Canada for 20 years since you turned 18.  Expatriates are not eligible for GIS.

 

Google is my friend (and yours!).  (S)He told me to look here for more info.

[Kerryd]

Keep in mind that if you are deemed to be "non-resident" your (government) pension(s) will be subject to a 25% "Snowbird Tax" (aka - Schedule XIII tax). My military pension goes into a Canadian bank account but CCRA has decided that I am "non-resident" now and subject to that tax (and apparently I lose my personal tax exemption as well so that they can keep all those taxes). 

Funny how I was "deemed resident" when I was working overseas (and taxed like I was living in downtown Ottawa) and living in Thailand, but the instant they saw that I wasn't working anymore suddenly I'm "non-resident" and they screw me out of any kind of refund by telling me I'm not entitled to the personal exemption.

Can't wait to see how they plan on screwing me over again when I'm eligible for the OAS/CCP. Then they will probably try some BS like claiming the years worked overseas suddenly don't count despite having maxed out the contributions each year.

 

[mike787]

transfer directly to my wife sin sot account - LOL

[cnx355]

As PIB mentioned, many Canadian government pensions  can be deposited directly  in Thailand  This included Old Age Security pension and CPP pension and Federal Public Service pension etc.....

You have the link posted by PIB.

Note: If you have a pension from Quebec RRQ ( equivalent of CPP )  it can be done too on their web site.

 

And if you have a pension from a private funds like city or corporation pension, you have to deposit in your Canadian account and organise a regular transfer to Thailand with your bank. That is the way I have to do it.

 

[cbc]

Why bother with all that paper work.And anyway by the time they tax you at the higher rate and you are not entitled to cost of living increases you'll be lucky to have enough left to live a comfortable life style as one would like during retirement.

Just arrange a permanent address in home country and don't tell them,seeing as where the Canadian embassy still issues the income affidavit letters.No need to transfer pension in thai bank.It's same as before.

Edited March 12, 2019 by cbc
forgot a little sentence at the end.

[Headgame]

I am a deemed non-resident of Canada and file my Canadian tax returns accordingly.

I've never had the 25% "snow bird" tax debited from my monthly deposits and all my tax returns have been approved by Revenue Canada.

 

I don't have my OAS and CPP payments deposited into my TH bank account but I could if I wanted to.
 

 

 

[Ulic]

On 3/10/2019 at 9:21 PM, Inn Between said:

Do Canadians have to be in Canada for at least 6 months of the year to qualify for their OAS (Old Age Security) and GIS (Guaranteed Income Supplement)? I know CPP (Canada Pension Plan) is payable regardless of where one is living, but I heard something about the other two not being paid if you're not resident at least 1/2 the year. 

For the supplement yes.