Is transferring of RA funds between RA's considered non-pensionable income
By Marc Sevitz · Updated
I am considering changing the retirement annuity I currently contribute towards. If I ask the funds to be transferred from one to the other, would this amount be considered as non-pensionable income when I file my tax return. If so, am I therefore liable to pay tax on this amount even though it is being transferred from one RA to another directly without coming to my bank account directly.
There should be no tax implications if you simply transfer from one RA to another.