Transfer of pensions from UK
Posted: Tue Mar 5, 2019 3:01pm
Can anyone recommend who I should speak to for best advice on transferring my UK state pension and SPPA superannuation to my bank in Spain please?
Mags52 wrote on Tue Mar 5, 2019 3:01pm:
Can anyone recommend who I should speak to for best advice on transferring my UK state pension and SPPA superannuation to my bank in Spain please?
See the link below from the DWP Website
Posted: Mon Nov 16, 2020 6:03pm
We just use Xe money transfers to make our monthly payments from our UK bank accounts to our Spanish one. No transfer fee and you get the best daily rate (so, if it was 1.14 that day, that's what you'd get). Trouble is, if it's low that day you'd get less, but you can set up a fixed rate deal with them to avoid this.
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Hi Gary,
I have my pension paid into my Sabadell bank account here in Spain. It comes through regularly every month and does fluctuate a little each time according to the current rate of exchange. But it is far more convenient to do it this way, I believe. I did read that the DWP will only pay into your Spanish bank account once you are resident in Spain.
Good luck,
Janice
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Sorry, Gary,
You may think I’m a donut but I have no idea of the rate the DWP use. I remember them telling me at the offset, but I cannot for the life of me remember. It doesn’t show up on my Sabadell account, but it used to on a Santander account!
Sorry, you’ll have to ask the DWP which rate they follow.
Janice
Posted: Sun Nov 22, 2020 3:06pm
Hi, all you need to do is ring the UK Pension in England with your Spanish bank details and they will transfer it for you no problem
Jean777 wrote on Sun Nov 22, 2020 3:06pm:
Hi, all you need to do is ring the UK Pension in England with your Spanish bank details and they will transfer it for you no problem
Yes, Jean.
I had heard lots of stories about people missing out on a couple of months pension if you don't get the timing right but I found the DWP staff really helpful and my very next month's pension was paid into my Spanish bank account.