Avon Pension Fund
Administered by Bath and North East Somerset Council
Administered by Bath and North East Somerset Council
Living AbroadFor Retired Members living abroad we can pay pensions into overseas bank accounts through Citibank. Call the Pensions Payroll Section free on 0800 0644155 and they will send you a Mandate Form to complete. |
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| Frequently Asked Questions |
| Q. Will this affect my tax position? |
| A.No, Citibank’s payment method has no bearing on your tax position. If in doubt as to whether you are liable to UK tax, you can check with HMRC centre for non-residents, tel +44 (0) 151 210 2222. |
| Q. Can I receive my pension in Sterling overseas? |
| A. Yes, please provide a swift/bic code to enable us to pay in GBP, please check with your bank that your account is set up to accept sterling payments and if they will apply any extra charges for this service. |
| Q. How long does it take to set up? |
| A. The process from when Citibank receive your returned bank form from the Avon Pension Fund will take between 1-2 weeks. |
| Q. When will I receive my money? |
| A. This will vary depending on the country in which you live. For some countries Citibank can achieve payment in as little as three working days after the due date; other countries may take longer depending on the local banking infrastructure. Once established, the payments will arrive regularly, allowing you to plan your budgets. |
| Q. I am not sure if I have completed the form correctly. |
| A. I would recommend that you check the details with your bank, they will be able to advise and amend any information prior to sending it to the Avon Pension Fund. |
| Q. What exchange rate will I receive? |
| A. We cannot tell you precisely what rate will be used, since the exchange rate will vary from day to day with the markets the same as a high street branch would. Your pension will be paid to Citibank’s overseas partner on the due date or on the last banking day before it if the due date is not a banking day, and the rate of exchange on that day will be the base of the calculation. |
| Q. Is there a charge? |
| A. Citibank currently charge £2.74 for sending your pension overseas. This charge will cover their costs of making this payment on your behalf. |
| 08/03/2011 |
