How to make pension go further

IN REPLY to Bob Adcock’s letter (“Exchange rate hits OAPs hard”, February), we presume that his county council pension is being remitted on a monthly basis direct from the LGPS.

This is the most expensive method of transferring money from the UK.

We have found it more advantageous to have our pensions paid to a UK bank and then transferred to our French account on a quarterly basis.

This reduces the number of annual payment transfers which makes a saving of nearly 70 per cent on the bank charges.

Unfortunately exchange rates are pretty much beyond our control. However, it does pay to shop around and find the bank which will do you the best deal.

Kit and Margaret RANGER
by email