Pat, you really need to secure written details from PRA.
I say this as I've heard so many different stories from different folks.
Be careful in what you divulge to PRA as they will hold your information on record.
In principle they are looking for evidence of USD$ remittance of $800 into a Philippine bank. That in itself requires a written clarification on payment into a Philippine Bank of Euro or Pounds.
Secondly, it's not clearly stated whether the initial direct pension deposit can be made to an offshore bank or not. Get this clarification in writing.
In a ideal world you should be able to have your pension provider deposit your $800only (or equivalent) into a UK branch of a PRA approved bank. Any other amounts/pension can be deposited into a UK bank if desired.
I wouldn't advise having all your pension payments deposited according to PRA rules.
Withdrawing funds in the Philippines might also be problematic.
I say might based on the rules and regulations imposed on many Dollar accounts
where plenty of US folks need to make personal appearance at branch to get at their money to transfer to an account with ATM card.
Lots of twists and turns to navigate.
Unless you have a budget to make a $20k time deposit. (No pension Scheme)
I would be interested to learn what PRA advise![]()