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UK State Teachers Pension Lump Sum
Posted: Wed Jul 22, 2020 12:31 am
by Stewart
Next year I will receive a lump sum payment from the UK teachers pension scheme on my retirement age of 60.
In the UK this is tax free for everyone receiving it.
Will I pay tax on this in Japan if it is paid into my Japanese bank account?
Re: UK State Teachers Pension Lump Sum
Posted: Wed Jul 22, 2020 1:33 am
by Jake
Stewart wrote: ↑Wed Jul 22, 2020 12:31 am
Next year I will receive a lump sum payment from the UK teachers pension scheme on my retirement age of 60.
In the UK this is tax free for everyone receiving it.
Will I pay tax on this in Japan if it is paid into my Japanese bank account?
The consensus seems to be yes, taxed as normal income. It wouldn't matter where it gets paid here or in the UK if you are classed as permanent resident for tax purposes i.e over 5 years. Only way to find out for certain is to ask the tax office.
Similar question is here
viewtopic.php?f=8&t=215