If you live abroad
It is possible to have your pension paid directly to a bank outside of the UK if you are living abroad.
Following a review of our banking procedures, the Tyne and Wear Pension Fund have decided to change our overseas payment provider from Lloyds to Convera UK Financial Limited. Convera UK Financial Limited are a leader in global payment services and offer significant benefits to our administration of your overseas payments.
Convera UK Financial Limited will pay your pension into your account in local currency at a competitive exchange rate. The transfer time is approximately 3/4 days.
As an alternative to receiving monthly payments abroad you may wish to consider the following:
- if you have retained a UK bank account we can pay your pension into that account each month so that you can transfer or withdraw monies as and when you need to.
If you wish to have your pension paid to a bank outside the UK please complete and return Convera UK Financial Limited form. We also require you to confirm on the form whether you wish to change from the present monthly pension basis.
Paying income tax
If you live overseas and are concerned about tax please visit HMRC's Overseas Tax Information.