UK tax on Swiss pension withdrawal

[Phil_MCR]

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Bringing UK pension into Switzerland and QROPS

I have just completed (earlier this month) the transfer of my private pension offshore under QROPS (trustees in Guernsey custodian in the Isle of Man). The whole process was quite painless and took about 3 months. The immediate advantages are: - no UK tax deducted when amount moved offshore, no capital gains (Swiss taxes apply) - the investments will pass to my heirs, often a pension plan does not - total control over future investments and withdrawals - currencies easily changed - up to 30% im…

AHV withdrawal after leaving CH

The rule pertaining to AHV (state pension) and BVG (occupational pension) are different. AHV You have to phone/Email the AHV, they can advise. I would phone, if they try to direct you to the WEB, speak to a Supervisor tell them their WEB info is too completed to navigate!! I think you have to leave CHF.50,000, or its transferred to the uk Social system. But any money over that you can have refunded. I doubt, if you worked only 3 years that you've exceeded the CHF50K threshold. BVG Once…

Swiss pensions consolidated summary

Introduction This post (which I hope a mod may consider making sticky) is to summarize key points relating to Swiss pensions for the employed, particularly British expats. Topics covered: - basic concepts, including the “three pillars” of the Swiss pension system - the second pillar, ie the employers pension scheme - obligatory and non obligatory contributions - using your pension before retirement - transferring your UK pension(s) to your second pillar - leaving Switzerland, taking your pen…

2nd pillar pension to puchase property in the UK

Hi, I have used part of my 2nd pillar pension 4 years ago to purchase my current home in Switzerland. I'll now be moving back to the UK in the summer and I do plan to sell my Swiss property. I understand that the pension withdrawal can still be used to purchase property within the EU (as your primary residence). Therefore, this amount will come in very useful for the purchase of a UK property. Has anyone had any experience with this process in moving back to the UK? or using it within the EU?

Pension - Moving my UK pension to Switzerland

Hi, I've been through a similar situation, resident here but working across Europe. Providing that your UK pension is transferred to a scheme recognised by the UK authorities (HMRC) there is no tax charge unless you have funds or benefits that exceed the lifetime limits there. Once you have achieved six years non-residency all UK rules fall away and you can use your funds or withdrawal them without UK taxes. I'm almost near my six years and my advisers were brilliant - hence this note - as you …