One for UK people residing in Thailand with UK pension.

[thaibeachlovers]

I need to change my UK pension transfer from NZ to Thailand. I know that I will have to apply to the UK pension service, but are there any special hoops to jump through or sneaky requirements that one would not think of to do so that you know of?

In other words, is the UK pension given in Thailand as a routine, on request, or are there some special provisions that must be met, as I do not know if there is a reciprocal agreement with Thailand as there is with NZ?

I know that they give the option of how often the pension is paid, but does it impact on the amount received in Thailand if one opts to receive it frequently as opposed to infrequently ie bank charges?

Any thoughts on the method of transfer? Does the UK pension office even allow for different methods?

Thank you.

[MAJIC]

This link should point you in the right direction:

https://www.gov.uk/international-pension-centre

From Australians and New Zealanders, I know there doesn't seems to be too much Red tape!

Pensions whether full or just a few years credited National Insurance Contributions are paid into a Bank Account of your choice,(including A Thai Bank Account) and normally Bank Charges already paid ,by the DWP.

Edited December 3, 2014 by MAJIC

[thaibeachlovers]

Thanks for that.

[MartinL]

UK state pensions paid to pensioners in Thailand are frozen at the amount paid when first going abroad - you never get an inflation-related annual increase. I don't know whether the same applies to pensions paid to NZ. The list of countries where pensions are frozen seems a bit arbitrary but I'm guessing pensioners in NZ would get an annual increase.

If it's possible for you, it might be an idea to keep having the payments made to NZ so that you get the annual increase but that might then create problems when they send the occasional "are you still alive" letter.

[theoldgit]

I don't know whether the same applies to pensions paid to NZ. The list of countries where pensions are frozen seems a bit arbitrary but I'm guessing pensioners in NZ would get an annual increase.

No increases in NZ either.

I'll move this away from the Thai Forum, there is already a thread running on UK Pensions.

[KittenKong]

UK state pensions paid to pensioners in Thailand are frozen at the amount paid when first going abroad - you never get an inflation-related annual increase. I don't know whether the same applies to pensions paid to NZ. The list of countries where pensions are frozen seems a bit arbitrary but I'm guessing pensioners in NZ would get an annual increase.

The list isn't arbitrary at all. It is entirely down to whether there is a reciprocal social security agreement between the UK and the other country or not.

https://www.gov.uk/claim-benefits-abroad/where-you-can-claim-benefits

[sumrit]

This link should point you in the right direction:

https://www.gov.uk/international-pension-centre

From Australians and New Zealanders, I know there doesn't seems to be too much Red tape!

Pensions whether full or just a few years credited National Insurance Contributions are paid into a Bank Account of your choice,(including A Thai Bank Account) and normally Bank Charges already paid ,by the DWP.

If the pension is paid directly into a Thai Bank account is the money sent in GBP or Thai Baht?

If converted into Thai Baht first, by the UK bank the pension service use, you could lose money on the exchange rate.

[MAJIC]

This link should point you in the right direction:

https://www.gov.uk/international-pension-centre

From Australians and New Zealanders, I know there doesn't seems to be too much Red tape!

Pensions whether full or just a few years credited National Insurance Contributions are paid into a Bank Account of your choice,(including A Thai Bank Account) and normally Bank Charges already paid ,by the DWP.

If the pension is paid directly into a Thai Bank account is the money sent in GBP or Thai Baht?

If converted into Thai Baht first, by the UK bank the pension service use, you could lose money on the exchange rate.

I doubt the DWP would advise you of the best exchange rate,and I have never found a Bank that would advise a customer wether to send in GBP or Baht.

[siampolee]

You'll find that if your pension is paid into a Thai bank here in Thailand the payment is always in Thai baht, the rate of exchange invariably seems to be a tad better than the public quoted rates too.

My currency exchange yardstick is XE Currency Converter.

Edited December 9, 2014 by siampolee

[BritManToo]

UK state pensions paid to pensioners in Thailand are frozen at the amount paid when first going abroad - you never get an inflation-related annual increase. I don't know whether the same applies to pensions paid to NZ. The list of countries where pensions are frozen seems a bit arbitrary but I'm guessing pensioners in NZ would get an annual increase.

If it's possible for you, it might be an idea to keep having the payments made to NZ so that you get the annual increase but that might then create problems when they send the occasional "are you still alive" letter.

UK pension is frozen in all commonwealth countries.

[ThaiPauly]

I was unaware that pensions in the UK are frozen from the time one left the country?

My understanding is that it is frozen from the time you start to collect it.

[meatboy]

I was unaware that pensions in the UK are frozen from the time one left the country?

My understanding is that it is frozen from the time you start to collect it.

yes your right tp.its not frozen until you claim it.nz.has no reciprocal agreement with the uk.

but you MUST LET THEM KNOW when you move.

Edited December 11, 2014 by meatboy