Wants to know whether to bring a Bermuda Pension to

QUESTION: I am a recent landed immigrant.  The company that I worked for had
a pension plan in Bermuda.
If I keep the pension plan in Bermuda will I be violating the 30% limitation
on foreign investments for pension plans? If I commute the pension plan and
trnasfer to Canada, is a LIRA the correct vehicle and is there a special
procedure for transferring pension funds from foreign pension plans (as
opposed to RPPs) to a LIRA?
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david ingram replies:
the 30% rule does not apply any more but in spite of that, I advise you to
leave your money in Bermuda.
There is no clean method of bringing it directly to Canada. Of course, any
Mutual Fund salesman or Pension specialist in Canada will want you to move
it but Bermuda is not a bad place and provided you are happy with the bona
fides of the plan, leave it there.
If you live in the Vancouver er Area, you should call the host of the Sunday
Morning Show, Fred Snyder at (604) 731-8900 and get him to give you a
written financial plan.  Fred deals with a lot of people moving in and out
of Canada and has done some astounding computer analysis of where to put
one's money.
Answers to this and other similar  questions can be obtained free on Air
every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, I, david ingram am a
permanent guest on Fred Snyder of Dundee Wealth Managers' LIVE talk show
called "ITS YOUR MONEY"
Those outside of the Lower Mainland will be able to listen on the internet
at
www.600AM.com <http://www.600am.com/>
Call (604) 280-0600 to have your question answered.  BC listeners can also
call 1-866-778-0600.
Callers to the show and questioners on this board can also attend the
Thursday Night seminars on finance and making your Canadian Mortgage
Interest deductible.
David Ingram's US/Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321
New email to davidingram at shaw.ca <mailto:davidingram at shaw.ca>
www.centa.com <http://www.centa.com/>  www.david-ingram.com
<http://www.david-ingram.com/>
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transactions
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