The State Pension for Britons living abroad can be paid into a local bank in your country of residence if you live in the following countries:
“Your State Pension can be paid electronically into any of the following countries: Antigua, Australia, Austria, Bahamas, Barbados, Barbuda, Belgium, Canada, Channel Islands, Cyprus, Denmark, Dominica (Commonwealth), Dominican Republic, Finland, France, Germany, Grenada, Guyana, Hong Kong, Ireland, Israel, Italy, Jamaica, Luxembourg, Malta, Monaco, Netherlands, New Zealand, Norway, Portugal, San Marino, South Africa, Spain, St Kitts – Nevis, St Lucia, St Vincent and Grenadines, Sweden, Switzerland, Trinidad and Tobago, United States of America.”
However from October 2009 the following countries have been added to the list:
“From October 2009 additional countries will be: Bangladesh, Bulgaria, Colombia, Egypt, Greece, India, Indonesia, Mexico, Morocco, Nigeria, Pakistan, Peru, Poland, Thailand, Tunisia, Turkey and Yemen.”
This is certainly good news for me since I live in Thailand. That said I note that the transfer will be made in the local currency so it might still make better sense to maintain a UK bank account and transfer money in Sterling from there. Definitely a case of swings and roundabouts!
More news on the state pension for Britons living abroad can be found on the Direct Gov web site.
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