Can I get UK State Pension abroad?

Yes, you can claim UK State Pension anywhere. Whether it increases annually depends on country. Increases only in EU/EEA, Switzerland, and countries with agreements.

What happens to my UK pension if I emigrate?

Private pensions remain accessible. Can withdraw to foreign bank or keep UK account. May have tax implications in both countries. QROPS is an option for some.

Do I pay UK tax if I emigrate?

Depends on residency status. Generally no once non-resident. But some UK income may still be taxed. Pension taxed where you're resident usually.

Can I keep UK bank account abroad?

Many banks allow it, some don't. Lloyds and Nationwide often expat-friendly. Revolut/Wise useful for transfers. Check your bank's policy.

Money & Budgeting

Money Guide for Moving Abroad UK — Emigration Finances

Financial guide for moving abroad from UK. Emigration financial planning, pension access overseas, tax implications, healthcare, and money transfer.

By PocketWise · 14 April 2026 · 3 min read

Moving abroad requires careful financial planning. From pensions to healthcare, here’s your guide to emigration finances.

Before You Go

Financial Preparation

Action	Timeline
Tax status clarification	6 months before
Pension review	6 months before
Bank accounts	3 months before
Insurance	Before departure
Healthcare planning	Before departure
Emergency fund	Built up

Questions to Answer

Topic	Clarify
Tax residency	Where?
Income sources	From where?
Healthcare	How covered?
Banking	Where?
Currency	Management
Return plans	Permanent or temporary?

Tax Status

UK Tax Residency

Status	If You
Automatic overseas	<16 days in UK
Automatic UK resident	183+ days in UK
Between	Statutory Residence Test

Becoming Non-Resident

Usually Required	Action
Leave UK	Permanently/long-term
Restrict UK days	Under 91 typically
Establish abroad	Work/home there

Tax Implications

Income Source	Tax
UK State Pension	Taxed where resident
UK Private Pension	Usually taxed where resident
UK Property Income	Taxed in UK
UK Employment	Depends

Double Taxation Agreements

Purpose	Avoid Paying Twice
UK has agreements	With many countries
Result	Tax paid in one country
Check	Your destination

State Pension Abroad

Claiming

Can Claim	Anywhere in world
Apply	Near UK State Pension age
Payment	UK, foreign, or international bank

Annual Increases

Country Type	Increases?
EU/EEA/Switzerland	Yes
Countries with agreements	Yes
Other (USA, Canada, Australia)	No

Frozen Pension Countries

Warning	State Pension frozen
Australia	Frozen
Canada	Frozen
New Zealand	Frozen
Many others	Check before moving

Private Pensions

Access Options

Option	How
Keep in UK	Withdraw to UK/foreign bank
QROPS transfer	Qualifying recognized scheme
Stay invested	Until needed

QROPS Consideration

For Some	Worth Considering
Tax benefits	In some countries
Currency matching	Avoid FX risk
However	25% tax charge may apply
Professional advice	Essential

Drawdown Abroad

Reality	Works
Withdraw to UK account	Easy
Withdraw to foreign account	Usually possible
Tax	Where you’re resident

Banking

UK Bank Account

Many Allow	Keep It
Useful for	UK income
Some require	UK address
Expat-friendly	Lloyds, Nationwide

International Banking

Option	Purpose
Revolut/Wise	Multi-currency
Local bank	Day-to-day
Keep both	Flexibility

Money Transfer

Service	Benefit
Wise	Low fees, good rates
Revolut	Multi-currency card
OFX/CurrencyFair	Larger transfers

Healthcare

EHIC/GHIC

In EU	Use GHIC
Coverage	Emergency/necessary treatment
Not full	Healthcare replacement

Options

Destination	Healthcare
EU country	May access local system
Other country	Private insurance needed
Returning to UK	May have waiting periods

International Health Insurance

Coverage	Varies
Basic	£100-300/month
Comprehensive	£500-1000/month
Essential if	No local coverage

Property in UK

If Selling

Tax	Non-resident CGT
Rate	18-28% on gains
Timeframe	Report within 60 days
PPR relief	May apply

If Keeping/Renting

Rental Income	Taxed in UK
Non-Resident Landlord Scheme	Apply
Tax deductions	Still available
Management	Agent needed?

Financial Admin

Before Leaving

Action	Status
P85 form	Tell HMRC you’re leaving
Self Assessment	Final return
National Insurance	Check record
Redirect mail	Set up

Ongoing

Responsibility	Action
UK tax returns	If UK income
Local tax registration	Required
Pension claims	When eligible

National Insurance

Can Contribute Voluntarily

Why	Protect State Pension
Class 2	Some circumstances
Class 3	Voluntary contributions
Worth it	If short of 35 years

Keep Track

NI Record	Maintain
Check gaps	gov.uk
Fill before leaving	Consider

Coming Back

If You Return

Consideration	Planning
NHS	Residency rules apply
Tax	When become resident again
Pensions	Still accessible
Property	May have changed

Where You’re Going

Research Thoroughly

Factor	Research
Cost of living	Realistic
Tax system	Understand
Healthcare	How covered
Legal status	Visa/residency
Banking	Accessibility

Common Emigration Mistakes

Mistake	Better
Not understanding tax	Professional advice
Moving to frozen pension country without knowing	Research first
Closing all UK accounts	Keep one
No health insurance	Essential
Not telling HMRC	P85 form
Assuming UK rules apply	They don’t

The Emigration Checklist

Action	Status
Tax status clarified	□
HMRC notified	□
State Pension checked	□
Private pensions reviewed	□
Bank accounts organized	□
Health insurance arranged	□
Property decisions made	□
NI record checked	□
Professional advice	□