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Old 14.07.2017, 23:26
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Transfer UK pension for house deposit

Hi. I'm looking for advice please. I'd like to transfer my UK pension (held currently with previous employer) into a Swiss pension fund so I can use it as a deposit against a house... Is that still possible? Any advice would be great.
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Old 14.07.2017, 23:43
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Re: Transfer UK pension for house deposit

OK. I just found the pinned post and it seems an appointment with a crappy financial advisor may have been the issue, rather than new pension regulations.

I'm looking for recommendations for really great financial advisor please!
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Old 15.07.2017, 11:16
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Re: Transfer UK pension for house deposit

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OK. I just found the pinned post and it seems an appointment with a crappy financial advisor may have been the issue, rather than new pension regulations.

I'm looking for recommendations for really great financial advisor please!
I don't think any Swiss QROPS exist anymore. Taking the money before aged 55 would be considered pension busting by HMRC & taxed very highly. They need to be informed of withdrawals for 10 years after the transfer.
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Old 15.07.2017, 14:32
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Re: Transfer UK pension for house deposit

I looked at this a few years ago. Yep.. it's your money and once it's in your Swiss pension you can use it as a deposit...

But.. you'll probably lose a huge chunk of the pension if you try to move it before you're 55 (and maybe after... depending on the pension)
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Old 15.07.2017, 17:42
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Re: Transfer UK pension for house deposit

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I looked at this a few years ago. Yep.. it's your money and once it's in your Swiss pension you can use it as a deposit...

But.. you'll probably lose a huge chunk of the pension if you try to move it before you're 55 (and maybe after... depending on the pension)
Things have changed in the last 2 years, today there are 0 Swiss pensions authorised to receive a UK pension.
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Old 17.07.2017, 09:43
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Re: Transfer UK pension for house deposit

I looked into this a few years ago, not for a house deposit, just so that all my pension was in the same place and so that I didn't keep getting letters from my UK pension fund.

It's not possible to do it because the Swiss company needs to be on an approved list for them to make the transfer. When I looked only CERN was listed...
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