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Retirement Planning
For Expatriates
Retirement is expensive - and
many spend a quarter of their
life in retirement! Most
expatriates come from an
environment where their pension
is established and administered
by their employer. Many have had
no involvement with their
pension other than stating
whether they wanted to make
additional contributions to
their company scheme.
Consequently, it is not
surprising that many overlook
their retirement planning when
they move offshore.
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for the full article
Retirement Planning
- the Cost of Delay
In retirement, we expect a
continuation of, at the very
least, our current standard of
living. Given that we spend an
increasing proportion of our
lives in retirement and State
benefits are reducing, the need
for early, effective retirement
planning has never been greater.
However, modern society is told
by TV adverts, children’s
demands, etc… that immediate
gratification is the only way.
So how do you marry up these 2
key ideals?
Basically, the answer is do not
delay!
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for the full article
Qualifying Overseas Recognised
Pensions
Whilst many schemes have claimed
to be able to move a UK based
pension offshore, until recently
it has not been possible to do
this legally and with the
permission of the UK tax
authorities. This has been
primarily because, in return for
the tax-relief an individual
receives on their pension
contributions, the Revenue is
expecting to tax the income they
receive when the compulsory
annuity is purchased; and then
take any residual value on their
death! However, there is now a
much more attractive alternate
for those not retiring in the
UK.
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for the full article
SIPPS
vs QROPS
In 2006, the
UK Government introduced
Qualifying Recognised Overseas
Pension Schemes (QROPS) for
those who are intending to
retire outside the UK. So, as a
UK expatriate who intends to
remain offshore or a foreign
national who accumulated some
pension benefits whilst living
and working in the UK, is it
best to leave their SIPP behind
or transfer their pension
benefits into a QROPS?
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for the full article
Delaying Retirement - As Bad as
it Seems?
A recent
survey suggests of 60% of people
are likely to have to delay
their retirement due to the
recession. While most will
probably want to stop working at
the earliest opportunity,
delaying retirement doesn't have
to be as disastrous as it seems.
Whilst working beyond 65 may
seem like a grim prospect, in
the present financial climate it
could actually be good for your
finances.
Click here
for the full article
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