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Document Do I need to declare an overseas pension on my pension benefit application form?

You need to declare any benefits in overseas pension schemes if they count towards your Lifetime Allowance (LTA).

An overseas pension will count towards your LTA if:
  • Contributions have been made by you, or on your behalf, on or after 6 April 2006 that were relieved or exempt from UK Income Tax.
or
  • It includes UK transferred funds that were transferred directly or indirectly to the overseas pension on or after 6 April 2006 from a UK registered pension scheme, or from UK tax-relieved funds or UK transferred funds in another overseas pension scheme.
If you have received payments of benefits (e.g. pension, lump sum transfer overseas etc.) that started on or after 6 April 2006 that use up part of your Lifetime Allowance (LTA) you must be informed of the % of LTA used by that payment from your pension provider. If you are claiming your NHS Pension benefits this percentage of the LTA you have used will be requested on your benefit application form.

If you receive any payment of benefits prior to 6 April 2006 that count towards your LTA, then the benefit application form request the necessary information to calculate your LTA position.

If you have any overseas pensions, either in payment or not, that are not covered by HMRC’s LTA legislation you do not need to declare these on your benefit application form.

If you are unsure if your overseas pension counts towards your LTA you should contact the pension provider or HMRC for further guidance.
 
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overseas pension, hmrc, aw8, lta
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