PM Paetongtarn Faces Legal Battle Over Advisor Appointments

[churchill]

This is a new scheme which seems a must for anyone living in Thailand and wanting to get funds from their pension without paying tax - According to article can be done via Singapore , does anyone have any experience of this and can it be done locally in Thailand ?

http://www.telegraph.co.uk/money/main.jhtm...C-mostviewedbox

[LucyLui]

Yes, it can. MBMG International in BKK and Pattaya. I will PM you contact details.

LL

[GuestHouse]

On the same subject...... Don't forget the Risks Involved

[AyG]

<br />This is a new scheme which seems a must for anyone living in Thailand and wanting to get funds from their pension without paying tax - According to article can be done via Singapore , does anyone have any experience of this and can it be done locally in Thailand ?<br /><br /><a href="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/22/cmabroad22.xml&CMP=ILC-mostviewedbox" target="_blank">http://www.telegraph.co.uk/money/main.jhtm...C-mostviewedbox</a><br />

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First point, if your pension is already in draw-down, there's nothing you can do.

If you haven't already started taking an income from your pension, then, yes, you can transfer it overseas to a QROPS (Qualified, Recognised Overseas Pension Scheme). The HMRC website gives a list of some of the recognised schemes.

If the pension is small (for example, the income will be less than your personal allowance), the higher charges will mean that moving it offshore doesn't make sense.

The rules also require you to get professional advice before you make the change.

I'd suggest you don't look at Singapore (the charges are very high). Isle of Man, Guernsey and Jersey all provide better options. If your pension fund is small I suggest you Google "auroralite".

And for more general info, Google "QROPS".

[AyG]

Rereading the original post, the interest appears to be withdrawing funds from the pension pot.

The rules require that the pension provider inform HMRC for five years about any withdrawals from the pension fund. Withdrawals can only be made in line with UK rules (i.e. 25% upon retirement). After five years you can withdraw the lot, if you want.