Can I still pay into my pension if I now work abroad?

I’m now working overseas but plan to return to the UK at some point in the future. Am I still able to pay into my UK pension?

Question asked by Emma Douglas
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Answered by Neil Adams

Yes – you can live and work abroad and still pay into UK pension scheme. However, you might not be eligible for the same amount of tax relief that you would be if you were working in the UK.

To qualify for tax relief on your pension contributions, you would normally have to be a UK resident.

However, depending on your employer and employment status, you may be eligible for tax relief if you live overseas. For example, if you work for the Armed Forces you would retain membership in the Armed Forces Pension Scheme when on military service abroad.

Bear in mind that when you want to receive your pension benefits, your pension provider won’t normally pay them into an overseas bank account. This means you may have to transfer the money from a UK bank account to where you live abroad, and there will be transfer fees to pay as well as exchange rate fluctuations to factor in.

pension benefits
 
pension tax relief
 
retirement planning
 
This information does not constitute financial or other professional advice. You should consult your professional adviser or contact us directly on 02084327333 should you require financial advice. It is important to ensure any insurance policy you take out is suitable for your needs.
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