Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: joyandgary on January 02, 2014, 11:41:44 AM
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Does anyone know when its time to claim your government pension and your still in uk but moving out to Turkey after the claim , do we give our uk address and have it payed into uk bank or do we give our what will be our new address in Turkey and Turkish bank account to have your pension paid into , We just don't know what is best to do and would appreciate anyone who has done this transaction .thank you
joy and gary
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I don't get a state pension but some friends have experienced the following. If they have it sent to a UK account they can choose when to draw it out and exchange it. Anecdotally it seems they are not contacted periodically to establish they are still alive. Those with direct to Turkish bank arrangements are contacted and if not responded to the authorities in Uk suspend payments until you let them know, if can be a devil of a job getting a letter delivered to you out here so you might not know they have tried contacting you. I think, but I am not absolutely sure, that the direct arrangement means the pension is exchanged at the prevailing rate on the day, not what you might want to do.
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Have it paid into UK account (HSBC for us), draw from bank here in sterling, pay into (again HSBC for us) sterling account in Turkey, change into lira (online banking). A little complicated but has worked for us for 6 years.
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Definitely have it paid into a UK bank account. You can make any future arrangements once you are settled here. Draw sterling on your debit cards or transfer whatever.
As to when to apply, you must be within 4 months of being eligible for pension payment, the forms are downloadable from the internet.
We were already in Turkey when we applied for ours and all went quite smoothly.
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Definitely have it paid into a UK bank account. You can make any future arrangements once you are settled here. Draw sterling on your debit cards or transfer whatever.
As to when to apply, you must be within 4 months of being eligible for pension payment, the forms are downloadable from the internet.
We were already in Turkey when we applied for ours and all went quite smoothly.
Thank you , sound advice , we will do that too , we we're feeling a bit uneasy if we had to pay it direct to Turkish bank account .
I have just been on Government site and signed up with gateway , so we are happy now , thank you
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Definitely have it paid into a UK bank account. You can make any future arrangements once you are settled here. Draw sterling on your debit cards or transfer whatever.
As to when to apply, you must be within 4 months of being eligible for pension payment, the forms are downloadable from the internet.
We were already in Turkey when we applied for ours and all went quite smoothly.
Thank you , sounds good then , glad yours went well .thanks joy
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Hi Joy
There's no need to quote the last post when you reply - just type your reply in the 'quick reply' box below and click 'post'.
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Hi Joy, I would just add that we have a Nationwide Flex account with both credit and debit cards, you can draw sterling free of charge with that. Also an off-shore account with Nationwide to which our pensions are paid, we then transfer to the Flex acc as needed, but can also nominate other banks, including our Turkish bank for direct transfer of funds.
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Hi Joy,
I have had my UK pension paid into the local HSBC bank in Fethiye now for some three years, also a small private civil service pension. It is vulnerable to the exchange rate but at present it is doing very well thank you.
The main thing is that you will have to have Turkish bank account in your own or a joint name.
Regards,
TC ;D ;D
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H,i thank you for guiding me to the right direction scunner , been a blonde , im saying know more ha ha
I want to thank you to all that took time in posting your replies, it all is good and sound advice , we will take on board
we are out in Fethiye in may for 2 weeks , we are very much looking forward to seeing the place .