PPRuNe Forums - View Single Post - Question for them that's retired and live overseas.
Old 10th Sep 2011, 14:45
  #4 (permalink)  
thefodfather
 
Join Date: Nov 2005
Location: Somewhere near the Rhine
Posts: 100
Likes: 0
Received 0 Likes on 0 Posts
I left both the RAF and the UK earlier this year to move to Germany. I know you can have your pension paid overseas, I'm sure someone will be along soon who does. I keep mine paid to a UK account, mainly because of the awful exchange rate with the Euro. In terms of tax, in most cases military pension are taxed at source. Although if the pension is your only UK earnings you can apply your full tax free allowance against it. Having left at 38, it means my pension is almost tax free, but not quite. The key is to fill out Form P85 and return it to HMRC so they tax you pension correctly. I've heard that some countries have dual taxation agreements so you get it gross from the UK and pay tax in your new country. I'm sure there was a pprune thread about it. Any other questions, feel free to PM me.
thefodfather is offline