UK pensions

[altcar bob]

2 hours ago, billd766 said:

 

The problem with your system is that you also have no idea of the exchange rates on any particular day though you hope it will be better for you mid week. You also need to have a UK bank account and pay transfer charges from the UK to The Thai bank.

 

If you are using Aeon Bank for your Thai account and transfer funds via the TMB bank you are probably paying for that also.

 

If you are transferring GBP 5 or 10,000 every time then it probably does work out cheaper in the long term.

 

I just let the pension providers send it via Citi Bank every month probably because I am a bit lazy and can't be bothered with the hassle.

Obviously ideas here are in short order., I do the transfer when I know precisely the day and hour judging by past performance when the transfer takes place,done instantly,money there in less than two minutes. No transfer fees,or charges,can go £300 into the red,again no charges

 

   Used Tranferwise,not a bad system,but the above is better for me

[evadgib]

https://www.gov.uk/government/news/hmrc-saves-public-24m-by-stopping-fraudsters

[ubonjoe]

A post that was a personal attack on a member has been removed.

Forum rule.

"7) You will respect fellow members and post in a civil manner. No personal attacks, hateful or insulting towards other members, (flaming) Stalking of members on either the forum or via PM will not be allowed."

[metisdead]

Troll posts have been removed. 

 

Troll posts containing insulting emojis have been removed as the insulting emojis only tend to rile other members.  Continue to use the insulting emojis and your posts will simply disappear. 

[billd766]

4 hours ago, altcar bob said:

Obviously ideas here are in short order., I do the transfer when I know precisely the day and hour judging by past performance when the transfer takes place,done instantly,money there in less than two minutes. No transfer fees,or charges,can go £300 into the red,again no charges

 

   Used Tranferwise,not a bad system,but the above is better for me

 

I am happy for you.

[altcar bob]

Just now, billd766 said:

 

I am happy for you.

...but I am sad for others!!!

[evadgib]

Further to my observations re Windrush: The home secretary confirmed the following on Andrew Marr 's show this morning:-

- 7 of 31 eligible deportees have so far been traced by HMG with the help of their host govts.

- a further 30+ deportees were sent home after offending in UK and will not be helped by HMG.

I will submit an FoI request later this year to see how many had their pensions frozen and how much the govt pay to correct it.

[sumrit]

12 hours ago, altcar bob said:

Problem with fixed dates for transfer you have no control over the exchange rates at any particular time. Mine goes into UK bank,then I do transfer when I want usually mid week when rates are highest, I pay £10 a month for this method ,but get highest rate available which was .4 higher than the TT rates , who give generally .26 spread,use Aeon bank 150 baht usage, plus other benefits on the card  

TMB bank is used for bulk transfers uk to whatever Thai bank it eventually lands in

Personally I use transferwise because I can also choose when to send my money (when I think the rates are higher) and I can see exactly how much I will get and the rate I will get.

 

As a backup I also have an EasyFX account with a pre paid Credit Card. I load the account with whatever I want and withdraw when I want, and there are NO charges at all from EasyFX. I also get the highest rate available (the same as the Transferwise rate). If I withdraw money from a Thai ATM there is the usual 220 baht fee but that doesn't apply when I make purchases using the card, then the only charge is the 1.5% Mastercard fee that are charged on all Mastercard transactions. And again, I can choose when to purchase things to take advantage when the rates are at their best.  

[Basil B]

4 hours ago, evadgib said:

https://www.gov.uk/government/news/hmrc-saves-public-24m-by-stopping-fraudsters

Why is not Offcom tacking these con artists??? withhold all payments for 2 or 3 weeks  on all premium rate calls and then they could close down the number and automatically refund. 

[evadgib]

Having received a further phishing email from a fake HMRC account I thought the board should see what I did with it:

https://www.gov.uk/report-suspicious-emails-websites-phishing

 

Mods: Advisable to post this link on any thread where Brits/the public are accessing UK Govt depts, not least Passports, Visas, DL, Pensions...

[Golden Triangle]

Just a quick update for those following this thread, I gave my mate the telephone number for the International Pension Centre yesterday, he popped into his bank branch (Kasikorn) got their address and SWIFT code, called Wolverhampton this afternoon and changed his payment from his Lloyds bank account in the UK to Kasikorn here.

 

That simple move is gonna save him over 500 quid a year in bank charges alone.

 

The number for IPC is +44 191 218 7777

 

They open at 8 am and usually no waiting to get answered, and very friendly and helpful.

 

Cheers

[denby45]

On 5/31/2018 at 11:37 PM, Golden Triangle said:

Just a quick update for those that may or may not be interested in the application process from abroad.

 

My daughter sent me an email this morning of mail that arrived yesterday from the DWP, Department for Work & Pensions.

 

I thought I had it cracked, wrong !! It contains a unique invitation code for the applicant to use on www.gov.uk/get-state-pension, it don't work from abroad, so I called the DWP and had a quick chat with a very nice lady, she told me that I needed to download and complete Form IPC BR1

 

Man oh man, they want to know the ins & outs of a Gnats backside, every job I've ever had, with dates, every address I ever lived at, with dates, any military service including all dates and other relevant info, am I married, single, divorced etc, in my case Divorced, so provide among other things Marriage certificate, Decree Absolute, Birth Certificate.

 

So for any of you getting ready in the next few months to claim your State pension I would suggest downloading the form now and getting together the documents required, fortunately I remembered to bring everything with me, and it does explain that they will pay into your account here at no cost I believe, and at a better rate than the banks will give and no bank charges by using an ATM to get your dosh from a UK bank account.

 

And I was also pleased to note that my weekly pension will be GBP 157 .57 per week, not to be sniffed at and a few extra beer tokens always comes in handy. ?

 

Sorry I forgot to add that you need to then print off the completed form, sign it, enclose the required documents (they will return them) and then DHL or whatever to the UK.

I had a similar problem when trying to claim back overpaid tax online, on the pension I withdrew from L&G. I was directed (by them) to the online form I needed to fill out for expats. I got part the way through but got stuck when it asked for a postcode. It does not accept anything but UK postcode and then you are stuck at that point, unable to proceed.

 

Den

[denby45]

9 hours ago, Golden Triangle said:

Just a quick update for those following this thread, I gave my mate the telephone number for the International Pension Centre yesterday, he popped into his bank branch (Kasikorn) got their address and SWIFT code, called Wolverhampton this afternoon and changed his payment from his Lloyds bank account in the UK to Kasikorn here.

 

That simple move is gonna save him over 500 quid a year in bank charges alone.

 

The number for IPC is +44 191 218 7777

 

They open at 8 am and usually no waiting to get answered, and very friendly and helpful.

 

Cheers

That's an interesting strategy and avoiding bank charges certainly helps but can you tell us how he is circumventing the terrible exchange rate at Kasikorn when his funds arrive.

 

Den

[Golden Triangle]

11 minutes ago, denby45 said:

That's an interesting strategy and avoiding bank charges certainly helps but can you tell us how he is circumventing the terrible exchange rate at Kasikorn when his funds arrive.

 

Den

See my post #4340, basically the UK Gov buys Thai Baht in bulk at a better rate and pass it on to us, they pay your pension in Thai Baht, there were some posts on here from quite a while ago confirming the fact that the FX rate was better, that's gonna save my mate over 500 quid a year in bank charges alone. 

[billd766]

12 hours ago, Golden Triangle said:

Just a quick update for those following this thread, I gave my mate the telephone number for the International Pension Centre yesterday, he popped into his bank branch (Kasikorn) got their address and SWIFT code, called Wolverhampton this afternoon and changed his payment from his Lloyds bank account in the UK to Kasikorn here.

 

That simple move is gonna save him over 500 quid a year in bank charges alone.

 

The number for IPC is +44 191 218 7777

 

They open at 8 am and usually no waiting to get answered, and very friendly and helpful.

 

Cheers

 

I did that a few years ago. It takes about 5 working days but it does save money.

[billd766]

3 hours ago, denby45 said:

That's an interesting strategy and avoiding bank charges certainly helps but can you tell us how he is circumventing the terrible exchange rate at Kasikorn when his funds arrive.

 

Den

 

I normally get a little higher rate when my pensions get paid than the daily rate shown on the Kasikorn forex.

[Andrew Dwyer]

Just a quick update for those following this thread, I gave my mate the telephone number for the International Pension Centre yesterday, he popped into his bank branch (Kasikorn) got their address and SWIFT code, called Wolverhampton this afternoon and changed his payment from his Lloyds bank account in the UK to Kasikorn here.
 
That simple move is gonna save him over 500 quid a year in bank charges alone.
 
The number for IPC is +44 191 218 7777
 
They open at 8 am and usually no waiting to get answered, and very friendly and helpful.
 
Cheers

I’m assuming that this is for the State Pension only or is it available for a company pension also .( I guess that would depend on the company pension ? )

Would be interested to hear if anyone is using this transfer method for a company pension ??

[billd766]

19 minutes ago, Andrew Dwyer said:

I’m assuming that this is for the State Pension only or is it available for a company pension also .( I guess that would depend on the company pension ? )

Would be interested to hear if anyone is using this transfer method for a company pension ??

 

I have been doing it for years with my state pension, my RAF pension and my company pension.

 

You will need to contact your pension supplier and give them the pension ref no, probably your NI number plus your bank acct details, Swift code etc. They will ask you a few questions and they may post or email a paper for you to sign after which it should go straight through.

 

My company pension is paid on 20th monthly and normally takes 2 days unless it is a weekend or bank holiday in Thailand.

 

Beware. Songkran is the worst time of year when the banks are normally closed for 4, 5 or 6 days.

[Andrew Dwyer]

1 minute ago, billd766 said:

 

I have been doing it for years with my state pension, my RAF pension and my company pension.

 

You will need to contact your pension supplier and give them the pension ref no, probably your NI number plus your bank acct details, Swift code etc. They will ask you a few questions and they may post or email a paper for you to sign after which it should go straight through.

 

My company pension is paid on 20th monthly and normally takes 2 days unless it is a weekend or bank holiday in Thailand.

 

Beware. Songkran is the worst time of year when the banks are normally closed for 4, 5 or 6 days.

Thanks Bill 

[Golden Triangle]

45 minutes ago, Andrew Dwyer said:

I’m assuming that this is for the State Pension only or is it available for a company pension also .( I guess that would depend on the company pension ? )

Would be interested to hear if anyone is using this transfer method for a company pension ??

You are correct, It's State Pension on this one, I had my Civil Service pension moved into a QUROPS scheme so I only pay 2% Tax, and that is paid quarterly to my Kasikorn account, my small Army pension just goes into my UK bank as a sort of rainy day backstop ?

[evadgib]

https://livewiresa.wordpress.com/2018/06/01/frozen-british-pensions-may-2018/

[sandyf]

12 hours ago, Golden Triangle said:

See my post #4340, basically the UK Gov buys Thai Baht in bulk at a better rate and pass it on to us, they pay your pension in Thai Baht, there were some posts on here from quite a while ago confirming the fact that the FX rate was better, that's gonna save my mate over 500 quid a year in bank charges alone. 

I used to get my pension paid direct and you do get a fairly good rate with the DWP payments, was always about the same as SuperRich.

Following the referendum I decided to have my pension paid in the UK as I usually spend about a third of my pension in the UK, so I now just transfer what I need, usually about 9 times a year. I use HSBC and the transfer fee Is £4 and the rate using the bank transfer is usually about 0.3THB below SuperRich, overall I am better off.

[sandyf]

13 hours ago, denby45 said:

I had a similar problem when trying to claim back overpaid tax online, on the pension I withdrew from L&G. I was directed (by them) to the online form I needed to fill out for expats. I got part the way through but got stuck when it asked for a postcode. It does not accept anything but UK postcode and then you are stuck at that point, unable to proceed.

 

Den

I have just done my tax return online. I use a UK postal address from a postal service, all works a treat, money was in my bank account within a week after making the return.

[denby45]

12 hours ago, sandyf said:

I used to get my pension paid direct and you do get a fairly good rate with the DWP payments, was always about the same as SuperRich.

Following the referendum I decided to have my pension paid in the UK as I usually spend about a third of my pension in the UK, so I now just transfer what I need, usually about 9 times a year. I use HSBC and the transfer fee Is £4 and the rate using the bank transfer is usually about 0.3THB below SuperRich, overall I am better off.

Are you sending Thai baht to your Thai account or GBP?

 

Den

[dick dasterdly]

On 6/5/2018 at 8:57 AM, denby45 said:

I had a similar problem when trying to claim back overpaid tax online, on the pension I withdrew from L&G. I was directed (by them) to the online form I needed to fill out for expats. I got part the way through but got stuck when it asked for a postcode. It does not accept anything but UK postcode and then you are stuck at that point, unable to proceed.

 

Den

A couple of years ago I was notified by the HMRC that I'd overpaid a tiny amount (26 sterling) and found it unexpectedly easy to get the over-payment paid into my NatWest Jersey account via the internet.

 

Can't remember the details, and perhaps that was when I was FINALLY able to get a Gateway account without a UK postcode.  Like you, I'd found it impossible previously.

[sandyf]

15 hours ago, denby45 said:

Are you sending Thai baht to your Thai account or GBP?

 

Den

GBP. Buying THB in the UK should be avoided.

[theoldgit]

On 6/5/2018 at 10:20 PM, sandyf said:

I use HSBC and the transfer fee Is £4 and the rate using the bank transfer is usually about 0.3THB below SuperRich, overall I am better off.

Do you have to pay another fee in Thailand?

 

A mate of mine also has his Civil Service Pension paid into his HSBC account in, I think, Jersey, he transfers funds as and when and, as you say, that transaction only costs £4.

 

However whilst the HSBC only charge £4 he's hit with the further charge of about £25 when HSBC sends it to his account with the Bank of Ayudhya. He used to have an account with HSBC here but when they pulled out of retail banking in Thailand he opened an account with the Bank of Ayudhya and the HSBC act as an intermediary bank and take their cut.

 

Do you get this charge, or is there a way round it?

[evadgib]

https://www.gov.uk/government/news/veterans-to-retain-military-id-allowing-easier-access-to-services

[billd766]

22 minutes ago, evadgib said:

https://www.gov.uk/government/news/veterans-to-retain-military-id-allowing-easier-access-to-services

 

Does that mean that I can get my old one back that I handed in back in 1984? Or at least a replacement.

[evadgib]

27 minutes ago, billd766 said:

Does that mean that I can get my old one back that I handed in back in 1984? Or at least a replacement.

...legion card or show the tattoo?