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 CITAbank. 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, our 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 we receive your returned bank form 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 we 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 to us. |
| 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 our 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. However, the low charge (£2.74) and the advantageous rate offered by our partners mean that the vast majority of our pensioners will be better off using this method of payment. |
| Q. What is the £2.74 charge for? |
| A. This is the charge made for sending money overseas, a normal high street bank transaction for overseas is normally higher than this. This low charge will cover our costs of making this payment on your behalf. |
| 19/08/2010 |
