Below are some of the most frequently asked questions on QROPS pension transfers. What is the minimum value I can transfer to a QROPS? In our experience the better schemes require funding of around 200,000 GBP to keep the charges to a minimum. However, there are similar schemes available from 50,000 GBP if you have other investable assets such as cash deposits or other investments. Whatever your situation and UK pension transfer value, contact us anyway as there is usually ...
We hope you find our guide informative and that it highlights some of the vast financial planning opportunities available to you in transferring your UK pension rights to a QROPS! The guide is intentionally generic and therefore individual questions may arise that you would like answers to. If at anytime you would like more detailed information please e-mail us. Introduction We provide you with all the answers and help that you have been looking for in deciding if a QROPS ...
Whether you want to determine which banking options best suit you, or you have queries relating to your short or long term savings and investing options, you need to know where to find qualified and experienced assistance. One of the things that expatriates most commonly worry about once they have moved abroad is that they have lost touch with their support network, and that they are unfamiliar with ‘how things work’ in their new nation. When you relocate you have ...
In a recent survey conducted by HSBC into the best places in the world for expatriates to live, one of the criteria that the bank used to determine preferential nations was the expatriate respondents’ access to so-called ‘luxuries’ now that they had relocated. One of these luxuries was their access to private school education for their children. A destination that ranked particularly highly due to the level of luxury that expats had access to was Dubai – and yet Dubai ...
When it comes to the ultimate and final protection of your finances and your assets, you will need to consider how your estate will be managed and distributed upon your death. As an expatriate it is essential to get your affairs in order as soon as you arrive in your new nation because different countries have different laws and rules relating to succession, inheritance taxation and how an estate is divided up and passed on. In addition to this fact, ...
The recent ‘credit crunch,’ stock market turmoil and global financial crisis that have impacted all our lives are not necessarily things that any one of us can protect ourselves against completely. The fluctuating fortunes of stock markets, the cyclical nature of housing markets, and the way in which bankers work and governments run economies are all outside of our control. However, there are elements of our lives that we can control, and one is the way in which we protect ...
Some expatriates are fortunate enough to be able to receive a company pension the benefits of which have to be determined by the individual expatriate on a personal basis when they have all the information about the scheme to hand. However, one question will then immediately arise, i.e., is a company pension better than a private pension? And the answer is relatively simple – a company pension may well be beneficial and advantageous to the individual expat, however, it should ...
Many expatriates have already been saving into a traditional UK pension scheme before they move abroad. Once they relocate however, they may lose the right to continue contributing, or find that it is no longer as advantageous for them to contribute into such a scheme. Others also realise that an offshore pension has such significant benefits over and above a traditional scheme that they want to divert their savings activity into a suitable offshore pension vehicle. For those who find ...
Bearing all of this in mind, if you’re an expatriate of working age who is concerned about saving towards your retirement, it could just be that a financial adviser will suggest you make the most of an offshore retirement scheme. Such a savings vehicle is an incredibly flexible plan, but whether or not it suits you will depend on your personal circumstances. Also, many expatriates fail to get ahead in the retirement race, not because an offshore pension is wrong ...
One of the most fundamental savings objectives for any of us is securing enough to retire on comfortably. Note: if you have recently expatriated and you have the likes of a UK based, onshore pension scheme in place, we will discuss this in chapter thirteen. When it comes to saving and investing there is a universal truth, and that is, the sooner you start saving the better, and this is for two main reasons, namely ‘time in the market versus ...