UK Pension payments in Thailand

[maxcorrigan]

16 minutes ago, vogie said:

You would be far pushed to beat the DWP rates. I send my private pension in £'s via my hsbc bank in the UK, they charge £4 for the service, but still get a better rate from the DWP.

Maybe i'm mistaken in your post, but the DWP would only pay in thai bht giving the lowest possible exchange rate,or are you saying HSBC charges £4 on foreign exchanges, after DWP pays into your account?

[Jip99]

Just now, maxcorrigan said:

Maybe i'm mistaken in your post, but the DWP would only pay in thai bht giving the lowest possible exchange rate,or are you saying HSBC charges £4 on foreign exchanges, after DWP pays into your account?

 

 

DWP pay in Sterling to HSBC who then charge GBP 4 to transfer to Thailand.

 

DWP (or their agent) pay overseas through Citibank and the net amount is usually same/better than the offshore TT rate.

[nontabury]

2 hours ago, rockingrobin said:

My understanding  is that where a person is living determines if the pension is frozen, not where the monies are deposited.

As for uprating the triple lock is still in place therefore a minimum of 2.5%

 

  If you do not inform them that you have moved to Thailand, you  will continue to receive yearly increases to  your state pension for which you have contributed to.

   As for severe penalties, you will find post 18 and 21 spot on.

   Those who may consider it fraud not to inform the authorities, may wish to ask yourself, if this is any more fraud then Your government, actually freezing your pensions, into which you have made many years payment. Legal maybe,morally certainly not.

 As others have already mentioned,all of these points can be found in the main U.K. 

Pension thread.

[vogie]

10 minutes ago, maxcorrigan said:

Maybe i'm mistaken in your post, but the DWP would only pay in thai bht giving the lowest possible exchange rate,or are you saying HSBC charges £4 on foreign exchanges, after DWP pays into your account?

 

Sorry if my post was not clear.

on the 15/8/2016 my DWP exchange rate was 45.145, on the same day if I had tranfered the same amount of £'s from my UK acc I would have got a rate of 44.309. JIP99 explained why. Hope this helps.

[johnnort]

38 minutes ago, johnnort said:

I do use the routing facility of the BKB London by having my UK Bank transfer monies to them when I require. However, if I choose to have DHS pension paid direct and wish to use the BKB London method, what details do I supply on the form? At present I use a long account number that incorporates my Thai account number and some bank code if I remember correctly. No address. I assume a bank address is required on the form.

My UK bank account was obtained before I departed the UK. I am aware that I could have the DHS pension paid into this UK Bank account, but this is not my issue as things change. Thank you.

What BANK address, if any, does one put onto the DHS form if requesting them to pay pension into BKB London. As no account would be held at the London branch and only rerouting funds is taking place, would the address be the London branch or Thailand branch to satisfy the DHS.

[Oxx]

4 minutes ago, johnnort said:

What BANK address, if any, does one put onto the DHS form if requesting them to pay pension into BKB London. As no account would be held at the London branch and only rerouting funds is taking place, would the address be the London branch or Thailand branch to satisfy the DHS.

 

What is required for the transfer is described at 

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

 

Those are the details you'd need to put on the form.

[bark]

39 minutes ago, nontabury said:

 

Can you provid a link to this,or is this just another scare story?

This is a live connection ; government consultant. Cost restructuring social programs, after UK split. 

My sister in-law; told me this one is 90 percent going to happen.

[rockingrobin]

39 minutes ago, nontabury said:

 

  If you do not inform them that you have moved to Thailand, you  will continue to receive yearly increases to  your state pension for which you have contributed to.

   As for severe penalties, you will find post 18 and 21 spot on.

   Those who may consider it fraud not to inform the authorities, may wish to ask yourself, if this is any more fraud then Your government, actually freezing your pensions, into which you have made many years payment. Legal maybe,morally certainly not.

 As others have already mentioned,all of these points can be found in the main U.K. 

Pension thread.

I dont consider it fraud ,it is an act of fraud by virtue of uk law irrespective of the moral or ethical justifications

[rockingrobin]

30 minutes ago, bark said:

This is a live connection ; government consultant. Cost restructuring social programs, after UK split. 

My sister in-law; told me this one is 90 percent going to happen.

https://www.gov.uk/government/consultations/restricting-non-residents-entitlement-to-the-uk-personal-allowance/restricting-non-residents-entitlement-to-the-uk-personal-allowance

 

I was under the impression the contents of above link had been scraped but cannot say with certain.However it does give an insight into government mindset

[bark]

2 minutes ago, rockingrobin said:

https://www.gov.uk/government/consultations/restricting-non-residents-entitlement-to-the-uk-personal-allowance/restricting-non-residents-entitlement-to-the-uk-personal-allowance

 

I was under the impression the contents of above link had been scraped but cannot say with certain.However it does give an insight into government mindset

August 2014.  Vote to leave 2016. 

I guess the whole world for the UK changed; over night  

Hope the pound goes up !

[Mansell]

You mentioned getting money from the USA.....if you have a bank account there and an address you could have your Brit pension sent there. 

[chiang mai]

56 minutes ago, rockingrobin said:

I dont consider it fraud ,it is an act of fraud by virtue of uk law irrespective of the moral or ethical justifications

 

It is fraud, that is perfectly clear and any amount of self justification to the contrary is pointless, it is fraud. And trying to separate the legal from the moral aspects is just too funny, I robbed a bank and it was OK because morally banks are corrupt so therefore it's OK, really!

[transam]

1 hour ago, nontabury said:

 

  If you do not inform them that you have moved to Thailand, you  will continue to receive yearly increases to  your state pension for which you have contributed to.

   As for severe penalties, you will find post 18 and 21 spot on.

   Those who may consider it fraud not to inform the authorities, may wish to ask yourself, if this is any more fraud then Your government, actually freezing your pensions, into which you have made many years payment. Legal maybe,morally certainly not.

 As others have already mentioned,all of these points can be found in the main U.K. 

Pension thread.

When you get your pension you get a panflet  spelling out what you must inform them of or you can be in trouble....

An old guy near me paid UK Gov BACK 5,000 quid for various stuff he wasn't untitled to in LOS. He was living at his "sisters"......

[Jip99]

3 minutes ago, chiang mai said:

 

It is fraud, that is perfectly clear and any amount of self justification to the contrary is pointless, it is fraud. And trying to separate the legal from the moral aspects is just too funny, I robbed a bank and it was OK because morally banks are corrupt so therefore it's OK, really!

 

 

I would liken the offence to parking on double yellow lines rather than robbing a bank.

 

Not trying to justify it (I have no need to), I will determine whether I choose to risk parking on double yellow lines or not. I would not risk robbing a bank.

[transam]

4 minutes ago, Jip99 said:

 

 

I would liken the offence to parking on double yellow lines rather than robbing a bank.

 

Not trying to justify it (I have no need to), I will determine whether I choose to risk parking on double yellow lines or not. I would not risk robbing a bank.

Folk will be robbing the tax payers bank.....

[chiang mai]

31 minutes ago, Jip99 said:

 

 

I would liken the offence to parking on double yellow lines rather than robbing a bank.

 

Not trying to justify it (I have no need to), I will determine whether I choose to risk parking on double yellow lines or not. I would not risk robbing a bank.

 

Your analogy is far too mild, I think it's more like stealing from the till rather than holding up a post office.

[cyberfarang]

5 hours ago, Dene16 said:

If you have it paid directly to Thailand it will not go up each year with the  rpi (retail price index - inflation). Not a problem at the moment because inflation is so small but could change.

 

Always better to have it paid first into a UK bank account

The UK State pension will not increase with inflation if you live in Thailand, makes no difference where you have the money paid into.

 

The OP can open an offshore bank account that is specially designed for non - resident UK citizens. But most UK offshore banks requires £25000 minimum to open an account.

[transam]

UK pension paid direct into a BKK bank account in LOS has no fees attached, ATM has no fees for withdrawals...Exchange rate is better too...A no brainer unless you are a rascal and don't 'live' here...

 

 

[DipStick]

14 minutes ago, cyberfarang said:

The UK State pension will not increase with inflation if you live in Thailand, makes no difference where you have the money paid into.

 

The OP can open an offshore bank account that is specially designed for non - resident UK citizens. But most UK offshore banks requires £25000 minimum to open an account.

The rulings are very confusing, when it was my time to receive a pension, I was residing in the Philippines where I still own property. The Philippines is one country residing that the pension is index linked.

i sent off my application with banking details in HK. In the meanwhile, I was offered a job in China, where I still am to this day, but my Manila registered address is now lived in by my son and his wife, when receiving any pension letters from the uk, my son forwards them to me in China by courier, I fill out the forms and send them back to the uk pensions  office.

never once have I had an issue and not for one moment do I consider myself to be breaking any laws etc

[transam]

4 minutes ago, DipStick said:

The rulings are very confusing, when it was my time to receive a pension, I was residing in the Philippines where I still own property. The Philippines is one country residing that the pension is index linked.

i sent off my application with banking details in HK. In the meanwhile, I was offered a job in China, where I still am to this day, but my Manila registered address is now lived in by my son and his wife, when receiving any pension letters from the uk, my son forwards them to me in China by courier, I fill out the forms and send them back to the uk pensions  office.

never once have I had an issue and not for one moment do I consider myself to be breaking any laws etc

You are meant to inform them of any change in YOUR ACTUAL residence....It is all in black and white...

[cyberfarang]

2 minutes ago, DipStick said:

The rulings are very confusing, when it was my time to receive a pension, I was residing in the Philippines where I still own property. The Philippines is one country residing that the pension is index linked.

i sent off my application with banking details in HK. In the meanwhile, I was offered a job in China, where I still am to this day, but my Manila registered address is now lived in by my son and his wife, when receiving any pension letters from the uk, my son forwards them to me in China by courier, I fill out the forms and send them back to the uk pensions  office.

never once have I had an issue and not for one moment do I consider myself to be breaking any laws etc

Sorry, but you are breaking the law. The UK State pension rules apply to wherever you are resident, not where you rent or own property.

 

I bet your Manila address is still registered in your name and when the pension people send you an, are you still alive letter you respond from your Manila address via your son as an intermediary and not from China.

 

You have not had a problem because the pension department hasn`t tumbled you yet. I once had an English friend who was doing similar, the pension department found out and it took him 2 years to have his State pension resumed again with penalties. So you better be careful who you let know about this.

[Jip99]

54 minutes ago, chiang mai said:

 

Your analogy is far too mild, I think it's more like stealing from the till rather than holding up a post office.

 

OK, I will go with taking a bar of chocolate from Woolworths without paying. or scratching part of the '3' off the old labels on chickens in Tesco so the price looked like GBP 1.49 !

[DipStick]

4 minutes ago, transam said:

You are meant to inform them of any change in YOUR ACTUAL residence....It is all in black and white...

I can see where you are coming from, but I believe that my Manila address is my actual residential address as very soon I will leave China and revert back to living in my owned property in Manila. Let me put forward another scenario, I also own a small condo in Bangkok, so how would the pension laws affect me if I spent six months of the year in Manila and then six months in Bangkok ( let's not get involved with Thailand visas as that is not the topic)

in my previous post I mention the word confusing, what I meant by that is, how do the uk select countries which are index linked and those that are not. I have my suspicions, for example I would predict that there are many more uk pensioners residing in Australia, New Zealand and Canada then the Philippines, yet the first three countries are not index linked ! A case of penny pinching ?

[transam]

I cannot believe that some posters here have NOT read the leaflet they get with their pension stuff.......

[transam]

2 minutes ago, DipStick said:

I can see where you are coming from, but I believe that my Manila address is my actual residential address as very soon I will leave China and revert back to living in my owned property in Manila. Let me put forward another scenario, I also own a small condo in Bangkok, so how would the pension laws affect me if I spent six months of the year in Manila and then six months in Bangkok ( let's not get involved with Thailand visas as that is not the topic)

in my previous post I mention the word confusing, what I meant by that is, how do the uk select countries which are index linked and those that are not. I have my suspicions, for example I would predict that there are many more uk pensioners residing in Australia, New Zealand and Canada then the Philippines, yet the first three countries are not index linked ! A case of penny pinching ?

When you leave Man and go to China YOU are supposed to tell them....If YOU leave LOS and go to the UK or any other 'OK' country YOU are supposed to tell them and they will increase YOUR pension for that period.....

[Lite Beer]

4 minutes ago, transam said:

I cannot believe that some posters here have NOT read the leaflet they get with their pension stuff.......

 

How long does it take to get your Pension stuff after your application is received?

They received my application on 14th August.

 

[transam]

1 minute ago, Lite Beer said:

 

How long does it take to get your Pension stuff after your application is received?

They received my application on 14th August.

 

Your pension is paid about a month after your 65th birthday...Can't remember how far in advance you should apply, couple of months before your 65th birthday  l think...

[Jip99]

19 minutes ago, cyberfarang said:

I once had an English friend who was doing similar, the pension department found out and it took him 2 years to have his State pension resumed again with penalties.

 

 

Thanks for sharing this, it is the first case I have heard of where penalties have been applied.

 

Could I ask you to share the specifics of case. I am particularly keen to see exactly what penalties were applied and exactly how they were applied, as I am not aware of a tariff system in place

[Lite Beer]

1 minute ago, transam said:

Your pension is paid about a month after your 65th birthday...Can't remember how far in advance you should apply, couple of months before your 65th birthday  l think...

Sorry but what I meant was how long does it take to get a reply by post giving you details.

Website says 8 weeks but I was wondering if in reality it was any quicker.

[transam]

11 minutes ago, Lite Beer said:

Sorry but what I meant was how long does it take to get a reply by post giving you details.

Website says 8 weeks but I was wondering if in reality it was any quicker.

Dunno, can't remember..But, UK gov post is not quick, my life cert took about a month to reach me...