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TheBlueCat

Got My English Pension Money Away From The Grasping Hands Of Wee Eck

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I think I've mentioned this one before, but I just got my Standard Life personal pension transferred to Canada (after a lot of messing around). Anecdotally, the person I talked to at SL about said they were having a bit of a rush of transfers at the moment, although some of that may well be down to the new pension rules around annuities.

Mods: how come my main forum posts now need approval? I don't think I've done anything problematic...

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This week we look at the pros and cons of heading to somewhere in the sun

Well, that rules me out...although the weather is nice in Toronto right now, we've just come out of 6 months of b*ll*ck freezing hell.

There's no massive tax advantage overall to be had by moving my pension to Canada, I just decided that, since I'm pretty much settled on staying here permanently, I'd rather have it closer to hand and away from Scotland in case of disorder following separation. There is a bit more flexibility too in that you can withdraw money at any age and it's just treated as taxed income. Oh, and the fund management charges are a lot lower - the whole lot will be going into index tracking no-load mutual funds (North American speak for unit trusts with no buy/sell spread) with annual charges of around 0.1%.

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I did that too. Good to know it'll be out of Labour's thieving hands before the next election.

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Standard Life have more than just Blue Cat's pension funds to worry about....basically they fear an English flight if Salmond get his way. And, indeed, why shouldn't the English be afraid. Salmond is already threatening not to inherit Scotland's share of National Debt, against international law, if he doesn't get the pound. And indeed they need the pound as they have no financial track record and a leader that behaves like the Head of a Banana Republic or former Soviet State (where you pick and choose your debts) is going to cause financial flight and cataclysmic panic on a scale never before seen in the UK., especially if Scotland have to use their own Mickey Mouse currency.

http://www.dailymail.co.uk/news/article-2569114/Standard-Life-threatens-quit-Scotland-voters-independence-putting-5-000-jobs-risk.html

Edited by crashmonitor

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