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How to demonstrate access to pension savings

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ColombiaEnglan
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Joined: Wed Oct 30, 2019 5:13 pm
Columbia

How to demonstrate access to pension savings

Post by ColombiaEnglan » Tue Nov 05, 2019 5:28 am

In search of a council

  I kindly received your email address and I wonder if you could advise me on the way forward.
  I fell short in my salary for the minimum income, but I had three pensions that I can use as a retirement when I need cash that exceeded the threshold of £ 22400 for wife and child.
  I received an email after 65 weeks asking me to provide details that I have these cash savings in a bank account, even though I requested the helpline from the home office before submitting an application saying I could provide statements of account and make your value that you could access them at any time without deductions.

 

  Regards A. H.

geoeng
Senior Member
Posts: 953
Joined: Fri Aug 30, 2019 11:54 am
Canada

Re: How to demonstrate access to pension savings

Post by geoeng » Tue Nov 05, 2019 8:44 am

The immigration rules state the following with regards to cash savings:
"The savings may be held in any form of bank/savings account (whether a current,
deposit or investment account, provided by a financial institution regulated by the
appropriate regulatory body for the country in which that institution is operating),
provided that the account allows the savings to be accessed immediately (with or
without a penalty for withdrawing funds without notice). This can include savings held
in a pension savings account which can be immediately withdrawn."

Assuming you have already provided bank statements, you could try providing a letter from your bank or information from the bank on the type of account held indicating how it meets the requirements but there's no guarantee they would accept that either. You could also try replying to the email asking what details they would consider acceptable, they might not provide any advice but it's worth a try. Without knowing what you provided in support of the application it's difficult to give an opinion on what else to provide to meet the requirement.
I'm just a guy on the Internet who immigrated to the UK. My opinions are based on my experience and interpretation of the immigration rules and should not be considered legal or immigration advice; your mileage may vary.

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seagul
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Posts: 10201
Joined: Thu Nov 12, 2015 11:23 am
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Re: How to demonstrate access to pension savings

Post by seagul » Tue Nov 05, 2019 8:12 pm

ColombiaEnglan wrote:
Tue Nov 05, 2019 5:28 am
In search of a council

  I had three pensions that I can use as a retirement when I need cash that exceeded the threshold of £ 22400 for wife and child.
 

 

  Regards A. H.
Regarding pension as how can it be combined with employment income and what documents are needed you can read from page 58-59 of following link

https://assets.publishing.service.gov.u ... -ext_1.pdf
The opinion expressed as above is neither a professional advice nor contesting/competing to other member's opinion/advice.

ColombiaEnglan
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Posts: 9
Joined: Wed Oct 30, 2019 5:13 pm
Columbia

Re: How to demonstrate access to pension savings

Post by ColombiaEnglan » Tue Nov 05, 2019 9:35 pm

Thank you Mr. Geoeng for your quick and good response. The home office says "you need access to your pension savings immediately," but what is the definition immediately if savings accounts can have up to 5 days to withdraw money and seem to allow it but will not allow 5 business days or see that as immediately for pension savings in investment funds :?

Thank you, Seagul, I have already entered the link and I read it, I thank you very much for your valuable opinion.

ColombiaEnglan
Newly Registered
Posts: 9
Joined: Wed Oct 30, 2019 5:13 pm
Columbia

Re: How to demonstrate access to pension savings

Post by ColombiaEnglan » Tue Nov 05, 2019 9:36 pm

Thank you Mr. Geoeng for your quick and good response. The home office says "you need access to your pension savings immediately," but what is the definition immediately if savings accounts can have up to 5 days to withdraw money and seem to allow it but will not allow 5 business days or see that as immediately for pension savings in investment funds :?

Thank you, Seagul, I have already entered the link and I read it, I thank you very much for your valuable opinion.

geoeng
Senior Member
Posts: 953
Joined: Fri Aug 30, 2019 11:54 am
Canada

Re: How to demonstrate access to pension savings

Post by geoeng » Wed Nov 06, 2019 8:34 am

ColombiaEnglan wrote:
Tue Nov 05, 2019 9:35 pm
Thank you Mr. Geoeng for your quick and good response. The home office says "you need access to your pension savings immediately," but what is the definition immediately if savings accounts can have up to 5 days to withdraw money and seem to allow it but will not allow 5 business days or see that as immediately for pension savings in investment funds :?

Thank you, Seagul, I have already entered the link and I read it, I thank you very much for your valuable opinion.
The guidance and rules do not specify what it meant by immediately; however, by standard definition immediately would mean instantly and without delay. Just my opinion, but I would not consider up to 5 days as being immediate. The intent is that any savings must act more or less like a pile of cash, you have to be able to hand it over right away when needed.
I'm just a guy on the Internet who immigrated to the UK. My opinions are based on my experience and interpretation of the immigration rules and should not be considered legal or immigration advice; your mileage may vary.

ColombiaEnglan
Newly Registered
Posts: 9
Joined: Wed Oct 30, 2019 5:13 pm
Columbia

Re: How to demonstrate access to pension savings

Post by ColombiaEnglan » Wed Nov 06, 2019 9:23 am

Thank you geoeng tomorrow, Thursday, I will meet with my lawyer to answer the email, I have asked the office where I have the pension account a letter to send to OH, begging God that this letter arrives tomorrow, I know this will not be the table of sure salvation but God allows that with this we have a positive response. 🙏

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