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Cyprus Eastern Forum Index » Exchange Money & Rates » uk old age pension
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uk old age pension 
Post: #1   PostPosted: Sat Jun 25, 2016 3:18 pm Reply with quote
hughie
Joined: 15 Jul 2007
Posts: 253
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could anybody tell me , what rate my uk old age pension rate payed into bank in Cyprus is it business rate or tourist rate Very Happy
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Post: #2   PostPosted: Sun Jun 26, 2016 5:52 am Reply with quote
bubblechris
Joined: 27 Mar 2009
Posts: 4860
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Location: Waltham Abbey, Essex E9

 
Neither I believe. It's a rate set by the British Government and I believe it has been beneficial in the past.
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Re: uk old age pension 
Post: #3   PostPosted: Sun Jun 26, 2016 7:47 am Reply with quote
Mr Tibbs
Joined: 14 Apr 2011
Posts: 10178
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Location: ROC

 
hughie wrote:
could anybody tell me , what rate my uk old age pension rate payed into bank in Cyprus is it business rate or tourist rate Very Happy



You get what I believe is the best possible rate.

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Re: uk old age pension 
Post: #4   PostPosted: Sun Jun 26, 2016 9:14 am Reply with quote
lethargicinlarnaca
Joined: 21 Sep 2005
Posts: 361
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Location: Larnaca and Troodos Mts

 
[quote="Mr Tibbs]You get what I believe is the best possible rate.[/quote]

Our UK state private and company pensions are paid through US finance/banking businesses from mid month onwards.

There appears to be no set payment date but payments are supposedly, and I've no reason to doubt this, at the best possible rate available to the US finance/banking business.

I believe this is the contractual requirement of our UK pension providers.

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Post: #5   PostPosted: Sun Jun 26, 2016 10:18 am Reply with quote
bromerzz
Joined: 30 Aug 2005
Posts: 3962
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Location: Deryneia

 
The UK govt and the contracted Pensions payer/handlers have major exchange rate buying power, and are therefore able to give towards the top end of the market exchange rates. Remember its not just State Old Age pensions that many people have paid direct, but all manner of other Civil Service Employment and HM Forces pensions all involved - and of course not just to Euroland but also to Dollar land, who I guess will be seeing an increase! And of course the Govt still has large numbers of people in Govt/Military posts across the World that are paid at those rates.
Drip ye not.
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Post: #6   PostPosted: Sun Jun 26, 2016 11:12 am Reply with quote
tilly mint
Joined: 13 Jan 2009
Posts: 643
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Location: Liopetri/kent

 
Hughie,
You get Business rate.
HTH
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thanks 
Post: #7   PostPosted: Sun Jun 26, 2016 12:19 pm Reply with quote
hughie
Joined: 15 Jul 2007
Posts: 253
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thanks to all Smile
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uk old age pension 
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