- Get your pension paid directly into your overseas bank account
- Exchange rate
- Payment date
- Alternative payment by Sterling
Get your pension paid directly into your overseas bank account
If you already live out with the UK or are moving abroad, your Lothian Pension Fund pension can be paid directly into your overseas bank.
Payments can normally be made in the currency of residence but in certain circumstances can be paid in another currency (e.g., sterling) subject to your specific bank account being able to accept payments in this currency. Your pension payments will be made through Western Union international electronic payment systems directly to the bank account you give us and in the agreed currency. There is no charge for this service, Lothian Pension Fund meets the costs.
If you choose to have your payment made into an overseas bank account, it is important you know that the exchange rate applied is not fixed and that the market rate valid at the time of conversion is used. This means that although your sterling pension payment will not change, the local currency value will go up or down depending on the exchange rate.
Payment will be made around the 15th of each month and should normally reach your account in three to five working days after this.
Alternative payment by Sterling
You can receive your payments in sterling into your international bank account. Alternatively, you can provide a UK bank account and we can pay your pension into a UK account in your name.