moving abroad

[Billybob57]

would moving abroad affect my pension in any way??

[Navalron]

I don't think so. The state pension is frozen at the rate in payment when you leave the UK with no yearly inflation rises except in a few nations with reciprocal arrangements. Your RM pension is still updated and paid as if you were still here but it depends if you get it paid into a British bank of a local foreign bank. I would wait for Robert T to answer as he is the man in the know. In fact he seems to know more than most of the HMRC staff and us adjudication officers that make benefit decisions regarding people's incomes from pay, pensions, investments ect. When he leaves RM he could get a job working for DWP/HMRC for as little as one day per week. He is the best person to ask.

[Billybob57]

its paid into LIoyds Bank and will be in future

[RobertT]

I'm not sure I can add much more to what Navalron has already said, but the way I understand things is that not many UK pensions are paid into overseas bank accounts. So you'll either have to use your debit card to withdraw money or transfer it from your Lloyd's account to a bank in the country you're moving to, both of which could incur fees? Plus here's exchange rates to think about.

Your RM pension won't be affected because you live abroad, but your state pension might be depending on where you move to.
Here's some links you might find useful:

https://www.pensionwise.gov.uk/en/living-abroad" onclick="window.open(this.href);return false;
https://www.pensionsadvisoryservice.org ... ing-abroad" onclick="window.open(this.href);return false;
https://www.ageuk.org.uk/information-ad ... etirement/" onclick="window.open(this.href);return false;
https://www.gov.uk/moving-or-retiring-abroad" onclick="window.open(this.href);return false;

I would wait for Robert T to answer as he is the man in the know. In fact he seems to know more than most of the HMRC staff and us adjudication officers that make benefit decisions regarding people's incomes from pay, pensions, investments ect. When he leaves RM he could get a job working for DWP/HMRC for as little as one day per week. He is the best person to ask.

Thanks for that, but I'm no expert.