Expat England News

Latest 10 news items tagged England

22 Jul at 6 PM 2014

New study reveals expats see pension industry as greedy and incompetent

The shocking results of a new study have revealed that retirement savers view the entire pensions industry as incompetent, greedy and corrupt. The research, undertaken by the UK’s National Employment Savings Trust, was intended to survey savers in the auto-enrolment workplace pensions scheme, but has also clearly tapped into the justifiable dissatisfaction felt by users of on and offshore financial product providers. To put it mildly, customers have lost all confidence in insurers and pensions firms. According to the survey,...
21 Jul at 6 PM 2014

Report identifies UAE as plagued by misbehaving Brits

The annual British Behaviour Abroad report brings bad news for British tourists and expats working in the UAE, as the number of those arrested for bad behaviour has soared since 2012. Attempt to blame the results of the report solely on British tourists in the region are likely to fail due to a strong decline in temporary visitors to the desert emirates. Comparative numbers tell the tale, with tourism declining during the last two years by 25 percent, and the number of UK expats working in the region staying steady at around 100,000...
21 Jul at 6 PM 2014

FCA warns against FAs pushing risky SIPPS assets

A recent warning from the UK’s Financial Conduct Agency concerns financial advisors who transfer clients’ occupational pension funds to SIPPS containing risky assets. In a recent article, CEO of the Financial Services Compensation Scheme (FSCS) Mark Neale noted the considerable increase in wrongful advice claims against FAs over the past year. He added that the FSCS strongly supports the FCA’s action in attempting to deal with the issue. According to the FCA, advisors are still operating business models which restrict...
21 Jul at 6 PM 2014

Expat drinkers in Vietnam dismayed at early closing proposals

The recently announced proposal that watering holes in Vietnam should close between 22:00 and 06:00 is causing dismay amongst expats living and working in the Southeast Asian country. The prohibition on the sale of alcohol from as early as 22:00 is believed to have been brought about by health concerns within the government, a concern not exactly shared by a good number of Westerners working in the Communist state. Some are suggesting that the effect of such an early closure of popular bars will be excessive drinking earlier in the...
21 Jul at 6 PM 2014

When is a QROPS a QNUPs and vice versa

For expats living overseas and fast approaching retirement age, investing their pension pot in the most tax effective manner can be very confusing. QROPS, QNUPS and SIPPS have been around for some years now, but many soon-to-be retirees could be forgiven for being totally confused as to which is more beneficial foe them. Basically, all Qualifying Recognised Overseas Pension Schemes, (QROPS) are also Qualifying Non-UK Pension Schemes (QNUPS), but a QNUPS may not necessarily be a QROPS. Got it? Taking the better-known QROPS first,...
17 Jul at 6 PM 2014

Will expat consumers benefit financially from UK pension reform

Now that the initial shock of the UK’s March budget pension reform announcement has faded, it’s time to evaluate the reasons behind it and the real-time financial benefits to retirees. Analysts are suggesting that the innovative policy wasn’t motivated purely by the wish to give pensioners more power over their savings. The behind-the-scenes reality, they say, is that the government has been locked in years of wrangling with product providers over the high charges and low performances of the then compulsory annuities. In...
16 Jul at 6 PM 2014

Expats enjoying the strong pound warned to watch out for fluctuations

UK expats living in the Eurozone and further-flung destinations are enjoying a boost in pension payments at the present moment, but are warned to watch out for future currency fluctuations. The global economic crash wiped a third off pension payments for UK retirees living overseas, but the ongoing British recovery has seen sterling soar against the euro over the last half-year. Economists believe the pound will strengthen further due to the European Central Bank’s preference for a weaker euro to support the rcontinental region's...
15 Jul at 6 PM 2014

Skipton offer expat buy to let mortgages on selected UK properties

Skipton International, the offshore Channel Islands base of the well-known high street building society, is now offering expat mortgages on UK buy-to-let properties. Including UK buy-to-let options in expat pension planning has traditionally been tricky for those requiring mortgages, but the recent rise in UK property prices has encouraged a few offshore banks to offer the service. Skipton is the latest to jump on board with its plan for UK citizens living and working overseas. The scheme is available to native UK citizens only,...
15 Jul at 6 PM 2014

Number of Britons living overseas soars to over five million

According to a report by the United Nations, well over five million British citizens have emigrated for reasons of work, retirement or general dissatisfaction with the state of their home country. Since 1990, the number of British-born migrants has increased by 23 per cent, with the majority of those leaving heading for sunnier climes. Australia is the all-time favourite destination, now home to some 1.27 million former British residents. America is the next most popular place for immigration, with 758,919 Brits in residence, and...
14 Jul at 6 PM 2014

Mobile roaming charges in and around Europe finally slashed

Expats using UK mobile phones in Europe are finally able to move from one country to another without being charged a small fortune for mobile roaming, texting and making calls – but it’s not all good news. Holidaymakers and UK expats who live in EU member states but enjoy touring nearby countries will gain the most from the newly reduced charges. Calls are now capped at 15p per minute, browsing or downloading at 16p per megabyte, texting at 5p a minute and receiving calls at 4p. Unfortunately for expats from other world...