Offshore pensions for UK expats Information
The latest speech from Secretary of State for Work and Pensions David Gauke has confirmed he is unlikely to sanction any moves to cut pension contribution tax relief any time soon. Speaking at an industry conference, he told delegates that he will not shy away from making changes, but is keen not to alter the … Read more
Spend today without worrying about saving for tomorrow is a state of mind undermining pension saving. Millions of people make no effort to save for their retirement while working and expect the meagre state pension of around £7,000 a year to cover their bills. Instead of saving to give a safety cushion between paying day … Read more
The question is uncomfortable for many expats, but prudent financial planning means looking after your family and loved ones when you die. Qualifying Recognised Overseas Pension Schemes (QROPS) fall under the same inheritance rules as UK pensions – plus an extra tax-free boost for expats who are left a share of any unspent pension money. … Read more
Switching a final salary pension to an offshore Qualifying Recognised Overseas Pension Scheme (QROPS) is a taboo topic for many IFAs for no good reason. A final salary pension is undoubtedly one of the most generous pensions any retirement saver could expect. Offered by a dwindling number of employers, the pension offers a retirement income … Read more
SIPPs are ideal for expats away from the UK for a year or two who want to carry on retirement saving with all the tax advantages of staying at home. An important rule about SIPPs is pension savers do not have to stay in Britain to gain all the benefits of a UK pension – … Read more