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UK-Justice, Barrister
Category: UK Employment Law
Satisfied Customers: 16193
Experience:  Called to the Bar in 2007
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I have a Pension with a company in the UK who are insisting

Resolved Question:

I have a Pension with a company in the UK who are insisting that I open a Bank Account in the UK to receive this, I do not wish to do that. What are my rights ?
Submitted: 5 years ago.
Category: UK Employment Law
Expert:  UK-Justice replied 5 years ago.
Thanks for your question. Please remember to click ACCEPT once you get my answer.

Where are you based?
Customer: replied 5 years ago.
Santa Clarita,California CA 91350,USA
Expert:  UK-Justice replied 5 years ago.
Under money laundering regulations which recently came into force in the UK then UK firms need to have a clear link and establish where money comes from and will go.

As such if the pension company have a policy asking you for a UK account then it is legal and reasonable.

You can complain and ask them to review and even complain to the pensions ombudsman who can be found at:

But if the reason is for money laundering purposes then I am sorry to say you will need a UK account.

I am sorry if this is not necessarily the answer you were looking for but based on what you have said, this is the legal position.

Please remember to click accept so that I am credited for my time. Thank you.
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