Overview
BNP Paribas Pension: Non-UK nationals or retiring overseas
Whether you are a non-UK national working for BNP Paribas in the UK or you are looking to retire overseas, it’s important to consider what this means for your BNP Paribas Pension savings.
If you are a non-UK national working in the UK for BNP Paribas, you are enrolled into the BNP Paribas Pension. You might only plan to be in the UK for a short period, but plans can change - so it’s worth being a member of the pension plan as this can be an important element of your income when you want to retire.
Should you then leave BNP Paribas to work or retire in another country, regardless of your nationality, you'll generally have two options for your pension savings:
- Keep your UK pension savings in the UK
You can leave your pension savings here in the UK, to access at retirement. - Take your pension savings overseas
You may be able to ‘transfer’ your pension savings to a similar arrangement overseas, that meets HMRC requirements.
Your pension savings are your money for your future, it’s up to you to choose what you do if you move overseas.
If you do not transfer to an overseas arrangement, you still have access to PlanViewer to manage your pension and can receive payments from your pension in the country you reside in when you do retire. Please read our guide for more information.
You should think about your own situation and future needs. It’s important that you understand how your BNP Paribas Pension savings could be affected - take the following three steps before leaving the UK:
- Read our guide - start your research by reading this guide to moving overseas with your BNP Paribas Pension - click here to begin.
- Consider taking specialised financial advice - finding the best solution for your individual needs can be complex, particularly if you have built up different types of UK pension savings and/or have pension savings outside the UK.
- Contact all your pension providers - if you’ve decided to transfer any of your UK pensions overseas, get in touch with your pension providers sooner rather than later as an overseas transfer can take up to six months.
It’s important to understand that pension transfers are a complex area and may not be suitable for everyone. If you are considering transferring your pension overseas, we strongly recommend that you seek advice from an authorised financial adviser to ensure the transfer is suitable for your circumstances and avoid any possible unforeseen tax implications or pension fraud.
Beware of pension fraud
After your house, your pension could be the single biggest asset you have. Unfortunately, this makes it a target for scams. There are lots out there, and some can seem very convincing, but the usual rules of thumb apply. If something seems too good to be true, it probably is, and you should never act on anything without checking it thoroughly first (particularly when someone contacts you without you asking them to). Learn about the common threats to your financial security, discover what we’re doing to keep you safe and find out where to get help if you need it.