FAQ: Where to Include a Foreign Government Pension/Accounts?

As a general rule, Adviice does not support the complexities of cross border planning, if you have multiple citizenships or foreign accounts we recommend you work with a financial planner with cross border specialties.

Foreign Pensions:

The best way to include a foreign pension is to add it as a defined benefit pension in the Discovery > Tax & Benefits Section.

You can find detailed instructions for adding a DB pension here.

Make sure to check with your pension provider or a cross border accountant whether your foreign pension will qualify for income splitting. If not, select 'No' in the 'Eligible for Income Splitting' field when adding your pension.

Foreign Accounts:

In specific cases another registered account can be used as a proxy for your foreign account. This is dependant on it's tax treatment.

This is not recommended as the proxy account will not capture any tax nuance or differences between accounts.

The other option is to manually add Taxable or Non-Taxable income (depending on the source) from this account in the same way shown in the previous section. With this method the asset will not be included in net worth, but the income will be included in your projections.