Police pension - into Italian a/c or other ?

Carpe Diam Image
12/24/2011 - 07:31

Buon Natale to all.My wife and I will in the next couple of months be moving permanently to our villa in Puglia and I would be grateful if any forum members could offer some pearls of wisdom as to their experiences in the best place to have a pension paid in to? It will be a government pension so therefore will only be taxed by the UK.I am in a quandary as to know the best place to have it paid in to without incurring money transfer fees all the time.Thanks in anticipation and happy holidays.


Yes, I wouldn't want it transferred automatically as you have no control at all over the currency rate you'll get.  If you can do without it and transfer it in bulk every now and then, you can make your own decision on whether you think the exchange rate is decent or not.  Rates are also better for larger transfers. I swear by HiFx for transfers but wait until I've got at least £5K to transfer as the rates only improve marginally for amounts above that.  Below that you're losing over a cent/pound and below £3K you pay a fee as well as a lower rate again.  Direct into Unicredit from HiFX is instantaneous (i.e. without hours) and we've never been charged any fees by intermediary banks to process the payment/receive the cash.

Thanks very much to all the replies and the advice has certainly helped in making a decision.......I knew I could count on the forum's help. We will now look forward to 2012 to our new life in Puglia and will no doubt in the near furture post other questions as 'newbies' as we settle into a more relaxing and enjoyable time.......now the hard bit of packing/removals. Didn't realise how much stuff you accumilate over the years! John & Angela

... look very hard at what you move over... We have now moved NOTHING!!!! Eventually come to the conclusion it was not worth the cost and effort.... Get a bed, live in the place, then decide, even if you have to store in the UK... Check the cost v buying new.....