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Thread: Anybody, receiving a state British pension living in Russia?

  1. #1
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    Anybody, receiving a state British pension living in Russia?

    Is there anybody, receiving a state British pension living in Russia? If so, do you get it straight to your bank account? How easy was it to arrange? Any problems. I can't find out yet, but will be able to next year about a month before retirement age. Apparently it 66 now, not 65.

  2. #2
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    Quote Originally Posted by johnsimpson View Post
    Is there anybody, receiving a state British pension living in Russia? If so, do you get it straight to your bank account? How easy was it to arrange? Any problems. I can't find out yet, but will be able to next year about a month before retirement age. Apparently it 66 now, not 65.
    Yes, and no. I receive a UK pension but have it paid to a bank account in Luxembourg (where I used to work before retirement). Since I also receive a pension from Luxembourg and also Belgium, it seemed easier to do it this way. Hopefully it will continue to work seamlessly even if/when the UK leaves the EU.

    I have setup a standing order with my Luxembourg bank to transfer some of the money each month ro my account here in Russia. That proved relatively easy to set up.

    The UK Pensions Office proved remarkably flexible as to where I wanted to receive my pension. Everything was done over the phone with the International Pension Centre. They don’t work with e-mail for security reasons, though you can send them questions through their website.

  3. #3
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    Sending money to Russia (whether roubles, sterling or something else) should not be too much of a problem, provided that you know the SWIFT address (BIC) of your bank. I suggest you check with the bank itself as this may not be as simple as it seems.

    For example, my account is with Sberbank in Krasnodar. Sberbank Krasnodar is “part of” Sberbank Rostov, in turn part of Sberbank Moscow. So the payment chain goes from Moscow, to Rostov, to Krasnodar and then to me. On checking with my branch, it turns out that all I have to give by way of an instruction to my bank in Luxembourg is the SWIFT BIC of Sberbank Rostov, and of course my own account number.

    My UK pension is paid in sterling, as you would expect. My bank in Luxembourg coverts that into euros. Payments from that account to Russia are made in euros with Sberbank converting to roubles. Clearly I’m losing on the exchange rates both times but I’m lazy and accept that in exchange for the relative convenience of having a “simple” setup that works for me.

  4. #4
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    One last thing that I discovered earlier this year - the UK Pensions Office does not systematically send you a summary of payments made to you. I needed one for my tax returns and was told that whilst they can provide one, I have to explicitly request it each year. In my case, I need one covering the calendar year, not the UK tax year, but this is not a problem (as long as I specify that’s what I need). The summary in question was sent by normal mail (so took a while before it arrived).

  5. #5
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    If it makes things simpler, one can receive Euros in Sberbak foreign currency account too.

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  7. #6
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    Quote Originally Posted by DiscoverLearn View Post
    If it makes things simpler, one can receive Euros in Sberbak foreign currency account too.
    Good point. It’s just a question of specifying the appropriate account number to be credited.

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