UK pensions

Posted: Thu Nov 12, 2020 3:39pm

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Annaleise36

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I'm posting this in the Mojácar forum because it seems to get more responses and it's a general question anyway. Myself and my partner are waiting on out residencia appointments (on Irish passports) and I think we're sorted but my dad is here with us, he wants to stay, he has his S1 form and his P60 and I'm working on getting him on the Padron at Cuevas which is a slow process anyway and he's not named on the rental contract (I know we're cutting it stupidly fine). Anyway, my question, Do I need to be opening him a Spanish bank account and does his UK pension need to be paid into it or does it not matter? I only ask because me and my partner needed Spanish bank accounts for his Autonomo and to show I had sufficient funds for my application but I don't know the process that well when it's dependent on pension payments.

TIA

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Posted: Thu Nov 12, 2020 7:31pm

Alicia 11

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Posted: Thu Nov 12, 2020 7:31pm

if he intends to live here then he would be advised to open an account and have his money paid into it the state pension comes in at a favourable rate but does go up and down of course. a private pension providor may pay straight into a spanish account or not but there is talk of british banks withdrawing accounts for ex pats in Europe some have already done this so he may have no choice.

He needs to be a resident to stay though so you had better get him registered fast.

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Posted: Thu Nov 12, 2020 7:40pm

Annaleise36

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Posts: 141

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Location: Mojacar

Joined: 13 Nov 2019

Posted: Thu Nov 12, 2020 7:40pm

Alicia 11 wrote on Thu Nov 12, 2020 7:31pm:
if he intends to live here then he would be advised to open an account and have his money paid into it the state pension comes in at a favourable rate but does go up and down of course. a private pension providor may pay straight into a spanish account or not but there is talk of british ba...

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...nks withdrawing accounts for ex pats in Europe some have already done this so he may have no choice.
He needs to be a resident to stay though so you had better get him registered fast.

Good to know, thank you. He gets both a state and a private pension. I will have him contact his UK bank tomorrow to see if they can shed some light but I'll have him open a Spanish account too just in case.