I have recently been asked about the position on UK nationals moving to Tenerife and their entitlement to a UK pension. Investigation of this has come up with some interesting findings.
As Tenerife is part of Spain (and therefore an EEA country), any UK nationals who qualify for a UK pension are able to claim their pension from the UK direct into their Bank Account. This pension can either be paid into a UK bank account in Sterling or direct to a Spanish Bank account and paid in Euro’s.
If you wish for your pension to be paid direct into your Tenerife Spanish Bank Account, then your pension will either be paid 4 weekly or 13 weekly. The choice of frequency is entirely up to your own preference.
Hello, if a bank in tenerife has money problems, and you have a bank account with a large sum in it , what protection do you have to make sure your money is safe.
Posted by Jim Fallows, Whose homepage is http://www.google.uk on 11/16/2007 at 20:31