I'm a Canadian citizen, was living in the US for several years, and have now relocated to London for a 1-2 year period (not as an ex-pat) so I'm now paying UK taxes.

I was considering a UK-based pension since I can no longer contribute to a 401K or IRA plan in the US, however, I've been told that the IRS will tax the living daylights out of any foreign pensions as soon as I return to the states. I'm also concerned since I have retirement savings in Canada...

Does anyone have any information on this or advice on what to do?

Much appreciated...