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Uk pensions

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Uk pensions


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Message posted by rosy on 08 August 2007 at 3:17pm - IP Logged Legal Disclaimer Corfu Photos
rosy
Corfu

Hi does anyone have their retirement pension paid into a bank over here in Corfu? My freind is having a lot of problems as the pensions office refuse to transfer via IBAN as in their words they don't trust the Greek banking system!!!

I find this appalling as my husband has his armed forces pension paid this way and although he doesn't recieve a retirement pension yet, the armed forces pensions are also government pensions, and I can't understand why my friend is having these problems as although its a different department they are still handled by a paymaster general, yes I know it doesn't mean a serving general!!

At the moment the pensions office send a letter to his bank with a payment order for a certain date, now these are supposed to be happening every 28 days and he is having awful problems not receiving his money and spends all month ringing the uk trying to sort it out only to find that on last months, they forgot to send it, and July's money has not yet arrived in the bank and Augusts money has only just been sent. This is a real nightmare for him and his wife and they are so stressed with it all that they are now selling their house and moving somewhere else. They have been told that anywhere else other than Greece and Corfu is fine for banking.

If anyone can enlighten me on the system, I can't help thinking that they are just being fobbed off,

Rosy



              

Message posted by seaangler (Chat Room Administrator) on 08 August 2007 at 3:44pm - IP Logged Legal Disclaimer Corfu Photos
seaangler
Why not have it transfered from this end ..One of my pensions goes into an acount i have set up and then is transfered in to the Alfa acount ready for spending money in Corfu..Is there any diference..After all its your mony and you can direct to any ware you like..Chris

Message posted by VeryNiceMan on 08 August 2007 at 9:51pm - IP Logged Legal Disclaimer Corfu Photos
VeryNiceMan
Corfu

Hi Rosy.

According to the UK Pensions Service web site:

http://www.pensionservice.gov.uk/ipc/countries/greece.asp

A UK State Retirement Pension can only be paid in Greece by Sterling cheque.

QUOTE:

How your UK State Pension will be paid

You can only be paid in Greece by Sterling cheque, which we issue via the post to your home address or a bank of your choice (however your bank may charge for the conversion of these cheques). Alternatively you can have your money paid into any UK bank account.

Dave.


Message posted by Ziggy Stardust on 09 August 2007 at 8:54pm - IP Logged Legal Disclaimer Corfu Photos
Ziggy Stardust
Corfu

Well, this is not good news!  My husband has just started collecting his UK state pension, we currently have it paid directly to our bank here in France, but will be moving permanently to Corfu later this year.

I do remember the blurb that first came said that it could be paid direct to banks in any european country except Greece, but had hoped it was some kind of error!  I can't quite understand what the problem is as the banking system in Corfu seemed just as efficient as any we have experienced in both England and France, so what's the problem?

Like the original post we would be interested to hear if anyone has ever got round this.

Louise.

 

              

Message posted by rosy on 09 August 2007 at 10:40pm - IP Logged Legal Disclaimer Corfu Photos
rosy
Corfu

Its mad isn't it!! If you have it paid into a uk bank account and then have it transferred, then you have to pay the transfer fee every month and that all adds up! If there was a problem with Greek  banks why have they got them in London?

When we were sorting out my husbands forces pension there was lots of information about Greece being in the double taxation treaty so there wouldn't be any problems with that but another department of pensions has a different view, I cannot understand their problem.

Rosy



              

Message posted by VeryNiceMan on 09 August 2007 at 11:02pm - IP Logged Legal Disclaimer Corfu Photos
VeryNiceMan
Corfu

The answer may be to set up a Nationwide FlexAccount in the UK and have the pension paid into that.

You can then withdraw the money (up to the Euro equilvalent of £300 per day) from ATMs in Greece.  Nationwide do not charge any commission and you get the actual exchange rate on the day.  (Free money transfer)

It has been mentioned in other topics that the ATMs could charge a fee for the withdrawl.  I've always used Emporiki Bank ATMs and have always received the full amount of the transaction with no deduction for a fee.

Dave.


Message posted by dazzy73 on 10 August 2007 at 10:28pm - IP Logged Legal Disclaimer Corfu Photos
dazzy73
Corfu
we took money out of our flexi account in sidari and it showed a max of 600 euros and we did not get any charges for using the cash machine over there.

Message posted by VeryNiceMan on 10 August 2007 at 10:39pm - IP Logged Legal Disclaimer Corfu Photos
VeryNiceMan
Corfu

Hi dazzy73.

The ATM may show €600 (euro) but Nationwide will only authorise up to the Euro equilvalent of £300 per day.  I've tried taking €600,.... ATM message says: "Your bank will not authorise this transaction".  Re-enter €400,.... no problem.

Dave.


Message posted by rosy on 11 August 2007 at 9:32am - IP Logged Legal Disclaimer Corfu Photos
rosy
Corfu

Hi Dave, thanks once again, you are always coming up trumps with my questions, I will pass that info on to my friend and hope it works out for him,

Rosy


Message posted by baywatcher on 11 August 2007 at 4:21pm - IP Logged Legal Disclaimer Corfu Photos
baywatcher

We too have our Forces pension paid into Nationwide FlexAccount and when we reach pensionable age next year will also put the Government OAP in too. We don't have any problems with Nationwide and if a large amount is needed we will IBAN it into the Alpha Bank Account and draw on it when needed. All transactions we need we do online and so no visits to Nationwide branches are needed making it easier if you live in Corfu.

Regards Denise



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