Straw that breaks the camels back??????????

[Terpe]

In connection with UK pensions, remember also that there is what is called a “Double Taxation Agreement” that exists between the UK and Philippines.

Essentially this means that most receivable pension payments should only be taxed once if you’re living in a country which has a double taxation agreement with UK. (ie Philippines)

Normally, any pension payments above individual personal allowances will be taxed at source in the UK but, if you are resident in the Philippines, and you inform HMRC that your pension will be taxed in your country of residence, then HMRC will authorise payment of your pension without deduction of tax.

Now here's the really interesting bit. Currently, all income from pensions are taxed at 0% in Philippines.

Means you not only benefit from indexed linked pensions, but you receive them tax-free.

[subseastu]

In connection with UK pensions, remember also that there is what is called a “Double Taxation Agreement” that exists between the UK and Philippines.

Essentially this means that most receivable pension payments should only be taxed once if you’re living in a country which has a double taxation agreement with UK. (ie Philippines)

Normally, any pension payments above individual personal allowances will be taxed at source in the UK but, if you are resident in the Philippines, and you inform HMRC that your pension will be taxed in your country of residence, then HMRC will authorise payment of your pension without deduction of tax.

Now here's the really interesting bit. Currently, all income from pensions are taxed at 0% in Philippines.

Means you not only benefit from indexed linked pensions, but you receive them tax-free.

All of this is true, I've worked with blokes pulling a royal navy and state pension whilst resident in the phils. Your pension will certainly go alot futher in the phils than the uk!!

[scott&ligaya]

now that is interesting.... only 17/18 yrs to wait wooo hoooo

[Terpe]

now that is interesting.... only 17/18 yrs to wait wooo hoooo

Just imagine how much tax you could save by then
Well assuming that tax on pension in the Phils does not increase.