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Did You Know?

Pensions and the process of transferring them to Canada can be confusing. Our articles below can help you make informed decisions.
Your RRSP contribution limits are not affected even if you deposit a large amount from a recognized UK pension plan to a Canadian QROPS. Did You Know?

Your RRSP contribution limits are not affected even if you deposit a large amount from a recognized UK pension plan to a Canadian QROPS.

Your RRSP contribution limits are not affected even if you deposit a large amount from a recognized UK pension plan to a Canadian QROPS. You declare the amount transferred as income on your Canadian tax return and then take a…
July 15, 2020
When your pension plan starts paying out, the amounts received will be taxable in Canada whether you leave the pension in the UK or have it transferred to Canada. Did You Know?

When your pension plan starts paying out, the amounts received will be taxable in Canada whether you leave the pension in the UK or have it transferred to Canada.

If you transfer your UK pension to Canada, it may qualify to go into a special type of RRSP. There is no tax on the lump sum transfer and you would only pay tax when you take some money out.
July 6, 2020
If you live in Canada and intend to retire there too, there is little value of having a UK pension that allows you to take a tax free lump sum. Did You Know?

If you live in Canada and intend to retire there too, there is little value of having a UK pension that allows you to take a tax free lump sum.

Many UK pension plans allow the beneficiaries to make a withdrawal of 25% on reaching the retirement age. In the UK that 25% lump sum is not taxed. Unfortunately, most withdrawals from a pension plan are taxable for Canadian residents.
June 25, 2020
If you are going to retire in Canada and you have a Defined Contribution Pension in the UK, life might be better if you transfer the funds to Canada. Did You Know?

If you are going to retire in Canada and you have a Defined Contribution Pension in the UK, life might be better if you transfer the funds to Canada.

If you leave your plan in the UK and it comes into payment, you will normally be paid in British pounds. You will have all the hassle and expense of converting every payment to dollars.
June 15, 2020
If you are going to retire in Canada and you have a Defined Benefit Pension in the UK, life might be better if you transfer the funds to Canada. Did You Know?

If you are going to retire in Canada and you have a Defined Benefit Pension in the UK, life might be better if you transfer the funds to Canada.

Your retirement expenses will be growing in line with Canadian inflation (which could be quite different from UK inflation). So a transfer out into a QROPS may be a better fit with your retirement plans.
June 6, 2020

Contact Us Today!

Contact the QROPS experts at PensionTransfer.ca today – you may have the prospect of a better retirement. There is no charge for an initial assessment and depending on the pension plan(s) that you have, there may be no out-of-pocket expenses to execute the transfer.

Please choose an option below.

Speak with Ron Craig.

Call 1 (888) 504-4042.

Submit an online request.

Click here to request a free assessment.