Overseas pension payments: FOI release

Information requested

• How you currently administer your overseas pension payments?
• Who is your provider?
• How was your arrangement set up was this tendered or arrange via an alternative method, i.e. partnership agreement?
• Does the pension fund or the pensioner pay the provider a fee per transaction or does the provider make money only on the foreign exchange element?
• If a fee is applicable would you be in a position to share what that fee is?

Response

• We use a third party to administer overseas pension payments.
• The provider is Citibank.
• This arrangement was set up via tendered agreement in 2013.
• The pensioner pays the fee.
• A 2% foreign currency transaction charge will be applied to all payments and levied to the member.

About FOI

The Scottish Government is committed to publishing all information released in response to Freedom of Information requests. View all FOI responses at http://www.gov.scot/foi-responses.