Pension payments from the U.K.

[P]

Just wondering what others do with their pension payments. Do you transfer them to your French bank account monthly, do you let them accumulate in an interest bearing UK account and transfer them in bulk for a more favourable exchange rate or do you do something else. And what about the tax situation in France

 

Paul

[Val_2]

I am very friendly with two elderly brits who have lived here for over 15 years now. In the beginning they just transferred the minimum amount required monthly to qualify them for their CDS and health cover, increasing it a little every couple of years to keep in line with inflation etc. They pay tax here which is lower, on their UK pension and have submitted a return to the fisc every year since they arrived. They get a fixed transfer rate between the UK bank and the CMB here for the regular monthly payment and use their UK credit cards for large items and bulk shopping, paying it from the rest of their UK pension in a UK bank account and they seem to be doing fine. The tax situation here depends on your income, age and NI contributions in the UK previously so if you are fully retired and over 65 you may find you won't pay Taxe d'Habitation eventually and be entitled to other things that the french retirees get. If you are going to live here full time you will need to register with the CPAM to get your health cover sorted and for that they require all the details of your UK pension in writing.

[taffaeo]

I have a military pension and my wife has a small state pension. 

If you contact the relevant authorities in UK they will automatically

send it directly to your French bank -aand I haven't found the exchange

rate disadvantageous either

[P]

Thanks for the replies, but it will be early retirement @ 55/50 [:D] so we will have to wait a few years until we get [:)] / or not get [:@] (with the way that the Govt are talking at the moment) the state pension (intended to make voluntay contribtions).

It had been suggested that we invest the occupational pension in the UK until there was sufficient to get a good rate of exchange.

Taffaeo - how exactly dos the rate of your exchange compare?

Thanks

Paul