Another interesting topic with pensions (for those thinking of a retirement in the Philippines) is that of 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 abroad, 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 income from pensions are taxed at 0% in Philippines.![]()
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