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Posted Fri, 01 Mar 2024 10:55:27 GMT by a g
Hello, I am thinking/planning the medium term future I am currently looking at available options. I have been living/working in Switzerland for some years and I have discounted over the years to a private pension fund. I am planning to leave Switzerland in couple of years and I have the possibility transfer the amount accumulated in the pension fund when moving to the selected country. Being an European citizen and having the possibility to move to UK, I would like to know what type of taxation would HMRC apply when transferring the pension fund from Switzerland to UK? Thank you in advance for your feedback. BR AG
Posted Mon, 04 Mar 2024 13:48:27 GMT by HMRC Admin 32 Response
Hi,

This is something you would need to discuss with your Swiss pension provider, as it can be a complicated area.  

Please have a look at the guidance at:

Overseas pensions: pension transfers

The overseas transfer charge - guidance

Recognised overseas pension schemes (ROPS) meet a set of rules set by HMRC. But may be subject to a 25% tax charge. Transfer of non ROPS pensions may incur a 40% tax charge.

Thank you.

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