transfer your SA pension to a UK pension
Living in the UK, provides you with more options than most other countries when it comes to retirement annuities, preservation funds and pensions left behind, in South Africa.
How John Smith, a 44 year old South African living in the UK, transferred his SA pension to the UK and increased the value by 26% in 182 days…
A case study – 8 October 2013: when he took advantage of the UK tax authorities’ pension incentive, his SA pension was worth R694,720. cashkows.com surrendered his SA retirement policies and paid the compulsory R123,673 in SARS withdrawal tax.
21st March 2014: we converted the proceeds and transferred £30,867 to his UK bank account which was invested onwards to his UK pension fund. In accordance with the UK pension incentive program, the tax authorities immediately supplemented John’s pension fund by £7,717. As a 40% taxpayer John was entitled to claim a further £7,717 in tax relief, which he invested back into his UK pension also.
182 days later… 8th April 2014: John’s ultimate UK pension contribution was worth £46,301.
transferring my funds was easy as pie
“It was easy as pie – all I did was follow this link and dealt with Steve from cashkows.com The good news? Should I decide to retire back in South Africa I’ll be receiving my retirement income, free of tax, in hard currency – a true feeling of financial freedom”
The Result: John Smith’s SA pension increased by 26%* in value in 182 days by doing very little. * 26% when comparing the 8 October 2013 to 8 April 2014 values on a Pound for Pound basis. Fluctuations in exchange rates ignored.
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A huge THANKS to CK!!!! Great service from everyone we have dealt with. Our immigration had a few difficult hurdles but you guys were on top of it. You came out tops and I give you 5*’s.Lance Wallis
I recently had a great experience with CashKows and the transfer of my SA retirement annuities to Ireland. CashKows also offered to submit a closing tax return to SARS in June 2013.Mike Louw