UBS pension Withdrawal Change - but what about tax? - Page 2

Landers · #21 13.01.2021, 01:53

	Quote:	GJSpooks
	That seems to be the way That's how I've been advised no UK tax

By whom?

GJSpooks · #22 13.01.2021, 02:02

By 2 tax accountants based on uk.Swiss treaty

https://assets.publishing.service.go...s_in_force.pdf

Check article 18 item 2

bankman · #23 13.01.2021, 13:37

i am still confused on the pillar 1 withdrawl - Perhaps you could provide a summary if your understanding

Landers · #24 13.01.2021, 13:59

	Quote:	GJSpooks
	By 2 tax accountants based on uk.Swiss treaty https://assets.publishing.service.go...s_in_force.pdf Check article 18 item 2

Pensions paid in part or whole by a lump sum are different to cashing in a pension before the due date, aren't they?

GJSpooks · #25 13.01.2021, 20:40

	Quote:	Landers
	Pensions paid in part or whole by a lump sum are different to cashing in a pension before the due date, aren't they?

I assume yes but I cannot answer

bankman · #26 13.01.2021, 21:36

I have tried a few times to understand what is being suggested without success.

What is your understanding of pillar 1 withdrawl on departure to uk?

What is your understanding of pillar 2 withdrawl on departure to uk and is there an obligatin to pay UK tax or just swiss tax?

Pachyderm · #27 13.01.2021, 23:52

Surely you can't withdraw Pillar 1 contributions? That's the state pension so you'll start getting paid your pension at the standard rate (multiplied by the number of years' contributions) once you reach retirement age. Pillars 2 and 3, yes, withdrawable.

HickvonFrick · #28 14.01.2021, 00:18

	Quote:	Pachyderm
	Surely you can't withdraw Pillar 1 contributions? That's the state pension so you'll start getting paid your pension at the standard rate (multiplied by the number of years' contributions) once you reach retirement age. Pillars 2 and 3, yes, withdrawable.

Here's a thread suggesting you can - https://www.englishforum.ch/leaving-...ess-story.html

Seemingly not much and only if you are from select non-EU countries that have no/bare bones agreements with Switzerland.