Skip to main content
No. of Recommendations: 0
Hi Dave

I've been reading your excellent guide to IRAs at the, but I have a somewhat unusual situation I
wondered if you could help me with.

I worked for a UK firm for 13 years and contributed to
a pension scheme during that time.
I left the firm in 1994 and the pension is kind of
'frozen' but it's alive and well.
Here in the US, I contribute to a 401k plan as
sponsored by my new firm.

I wrote to the UK Pension Fund manager trying to get
the UK pension transferred over to my 401k, but they
tell me that since it's a 'qualified' plan they cannot
I tried asking for a Cash Distribution (and suffer the
penalties) but they say UK law forbids a cash
So now I am trying to set up an IRA that is
UNqualified, right?

Can you tell me what that means? And how do I shop for
an 'unqualified' IRA - and a Roth one at that - that
allows for the transfer of the UK pension?

Thanks in advance for your help

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.