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Old 24.05.2023, 02:08
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Experience Withdrawing Pillar 2 - UK

Hi all,

Some information regarding withdrawal of pillar 2a based on my experience of returning to the UK.

-Returned to UK in April 2020 - withdrawal of "non-mandatory" component of pillar 2 was easy and efficient.

Since Brexit and rule changes I have been attempting to withdraw the "mandatory" component from a UBS vested benefits account which we are now entitled to. The account maintenance fees were slowly depleting the total value of the account, so this made sense.

-Applied via post using the form provided to send proof of identification, permanent residency in the UK and marital status.

-UBS did not accept proof of residence documents which are commonly used in the UK (driving license with current address, rental agreement, bank statement, work contract etc)..furthermore they required proof of marital status.

-UBS replied and asked for an "Affidavit" form to fill in as a binding declaration which was required to be signed in the presence of a Notary public (at some expense).

-This has now been sent back and received - now awaiting a response/payment from UBS. Has anyone else had the same experience? How long does it take for them to transfer the money normally?

Posting to create awareness that withdrawal of these funds is not particularly trivial. Has anyone else had the same experience?

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Old 24.05.2023, 14:51
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Re: Experience Withdrawing Pillar 2 - UK

Wasn’t with UBS but they sent me a form that needed to be signed and sent back with the required documents. I signed it in the presence of my solicitor and they stamped it. Received the money about a week later.
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