UK Old Age Pension

[John Brown]

If you are resident in France and both are about to start receiving your UK Old Age Pension can you choose to have the pension paid into a UK Bank Account and transfer the money over in larger, less frequent lumps.

I'm thinking of bringing it over quarterly or half yearly and benefiting from good spot exchange rates as and when they accur.

The money would always be available anyway at an ATM in France for small emergencies

How does the exchange rate the Pensions People can offer compare with the Big Money Exchange Companies.

JB 

[Benjamin]

It can be paid in either country.

If you choose to have it paid into a French bank account then I believe DWP use Citibank Ireland and the rate is as near to commercial as an individual can get.

[Bob T]

Yes, paid in either country.

You would be a brave man to start playing with the exchange rates as no one knows where they are going at any time.

It will only be subject to tax in France and not the UK.

[cooperlola]

My pension provider uses Citibank also and I can confirm that the rate is very competitive.  Now that the Nationwide card option is lost to us, a better rate is tough to find.