We pay pensions to members of the scheme who worked in Derbyshire and now live all over the world in retirement.
If you decide to move overseas, your pension can still be paid monthly into a bank account anywhere in the world.
It’s important that you keep in touch with us if you move to a different address, as if you live overseas, we will write to you every 12 months requiring you to complete our life certificate.
Paying into an overseas account –how it works
We use Citibank to pay pensions to overseas bank accounts. There is an administration charge of £2.74 per payment for currency conversion and transmission of the payment. The charge is deducted from your net pension as part of the transfer process to your overseas account.
The account must be in your name as the pensioner member, or in joint names with your spouse/partner.
We need a minimum of 3 weeks’ notice to arrange these payments, as we need to verify the details you have provided with Citibank before we can make any payments to overseas accounts.
If you are interested in this service then please contact our payroll department on 01629 535119 (option 5) and ask for a mandate form for the country you are moving to.