I was reading yesterdays National Express (UK paper) and the headlines were: "Pensions War Will Cripple Britain!"This may be the tip of the ice-berg in the face of large-scale nationalization of Britain's financial institutions, along with a weakened Pound Sterling and strong negative pressures on the Euro...
So why care?
There are a vast number of British-Canadians who will be affected by large scale reforms to UK Pension plans. We are seeing it now.
What most dont know is that there are presently a couple of financial institutions in Canada that can facilitate the transfer of UK pension plans into qualified RRSP plans.
So... here I am in Calgary, working with the UK Trade and Investment Organization (British Trade Organization - BTO), and Sheila Telford, who's a Director for the British-Canadian Pensioners Association, to help bring education and awareness to those holding UK pension plans.
Ultimately, we still need to find out the exact numbers (or database) of Canadians who have moved from the UK over the last 30-40 years (especially those who moved during our recent "boom" from 2001 onward).
Mrs. Telford tells me that currently over 50% of Canadian-Brits are unaware they even have a British State Pension available to them.... Many folks are quite elderly and living on government assistance payments... This would greatly help take the burden off the Government and increase the quality of living of many Canadians.
I've have had articles published in a few newspapers and magazines here in Alberta over the last couple of months, so I have some interesting topics all focused on the UK Pension issue.
Currently I am the "go to" guy at my firm (Scotia McLeod) when it comes to the mechanics and rules of the transfers. Mrs. Telford is the "go to" gal when it comes to specific rules and issues with the State pension back in the UK.
Always here to help.
Eric.
