Expat Pension Transfer News

Latest 10 news items tagged Pension Transfer

18 Apr at 6 PM 2017

Spain loses position as Brit retirement haven due to Brexit

A new study has revealed that Spain, traditionally the favourite retirement hub for British expats, is now losing out thanks to the Brexit vote. The survey, conducted by Anchor, a retirement care and housing provider, is bad news for Spain, once the most attractive destination for many thousands of British retirees. Almost half the retirees who took part in the study said they were ‘unlikely’ to make the move to Spain, whilst the 41 per cent who had already decided to become expatriates in Spain, France and other EU member states...
14 Apr at 6 PM 2017

US expats in UK living in fear of IRS discovery

An accountancy firm working with US expats living in Britain has revealed a strong increase in the numbers of Americans declaring UK assets to the IRS for the first time. Fears of a Trump crackdown on the amnesty declared by former President Obama would seen to be the reason for a 75 per cent increase in the number of US expats coming forward this year. The amnesty, introduced in 2012 and known as the Streamlined Filing Compliance Procedure, was intended to entice US taxpayers back into the net without their incurring drastic...
14 Apr at 6 PM 2017

Yet more of the same from Brit Foreign Office to UK expats

Tuesday’s British Foreign Office Facebook question and answer session repeated more of the same to UK expats, but failed to dampen fears of the future by giving straightforward answers. The session, held on the Foreign and Commonwealth Office’s Facebook travel page and led by Julia Longbottom, offered no new guarantees but seemingly rehashed information any concerned expat would already have read on expat sites online or in their local English language newspapers. Longbottom is the Foreign and Commonwealth Office’s director for...
13 Apr at 6 PM 2017

SIPPS advantages over QROPS for UK expats

Whilst QROPS have been seen as the answer for expats of pensionable age, numbers of retirement savers shifting their money to a self-invested personal pension (SIPPS) have soared since pension freedom was introduced. The numbers of retirement savers choosing a SIPPS has doubled since the start of pension freedoms, with some 43 per cent of fund movements on behalf of 90 of the UK’s pension companies heading into SIPPS. Previously, only one in five transfers involved SIPPS and in 2017 one third of all transfers to SIPPS were from...
13 Apr at 6 PM 2017

Brit expats trapped in pensioner poverty due to sterling fall and frozen pensions

Britons who decided to retire overseas and live in modest comfort with the help of their UK state pensions are now facing a poverty-stricken future as a result of the frozen pension rules and Brexit’s effect on sterling. Living with the knowledge that one’s life savings will soon run out, one’s pension payments are shrinking due to the fall in sterling and there’s no hope of repeal for the frozen pension rule isn’t what many UK retirees expected would happen within their lifetimes. However careful their planning, the present...
11 Apr at 6 PM 2017

MumAbroadSpain website founder rejects relocation to small minded Britain

As uncertainty over the fate of UK expats in the EU continues unabated, a furiously angry expat Mum is refusing to relocate her family to ‘small-minded’ Britain. Enraged mother Carrie Frais is raising her family in Spain and has totally rejected the possibility of moving back to the UK as it’s in no way the Britain she left. She’s equally angry about the way British citizens were pushed into voting to leave without any details of what the decision would mean, both economically and for those who’d decided to relocate to EU...
10 Apr at 6 PM 2017

UK expat retirees caught in Brexit heathcare trap

British lawmakers at a hearing in the House of Commons have been informed UK expat pensioners living in EU countries will be caught in a healthcare trap if forced to return to the UK. Chair of the British Community Committee of France Christopher Chantrey told MPs British pensioners living in France are in a state of fear and anguish over their healthcare and residence rights once the UK leaves the EU. He explained the ending of the European S1 healthcare scheme would mean expats losing their rights to French reimbursements, thus...
7 Apr at 6 PM 2017

Fears over Gibraltar QROPS status calmed by last minute government session

Fears the status of Gibraltar as a QROPS jurisdiction would be threatened by UK law changes were put to rest at the last minute by a governmental fine-tuning session. Serious concerns in the financial world over risks to the Rock’s QROPS status as a result of new UK rules redefining offshore pension laws were finally quashed on March 31, just five days before the UK deadline for registration of offshore QROPS as compliant with the changes. According to Gibraltar’s Minister of Commerce Albert Isola, the laws were passed just in...
7 Apr at 6 PM 2017

Thailand offers pricey Elite Visa to disenchanted British Brexit remoaners

A charm offensive by Thailand’s tourism supremos is aimed at wealthy Britons feeling disenchanted by the prospect of Brexit Britain. On offer is the Thailand Elite ‘exclusive’ long-stay visa scheme, run by a government-owned agency hoping to lure UK expats to try their luck in the Southeast Asian country rather than enduring two years of uncertainty and insecurity in their present EU member state homes. Also targeted are Brexit remoaners looking to avoid the consequences of a hard Brexit by packing up and leaving. In its...
6 Apr at 6 PM 2017

Danish Immigration to deport US expat retiree after 32 year residency in the country

An American expat pensioner who’s lived and worked for more than half her life in Denmark is now facing deportation by the Danish immigration authority. US citizen Mary Stuart Burgher arrived in Denmark in 1985 to work for the World Health Organisation in Copenhagen. Due to exemptions given by the Danish immigration service to international organisations such as the WHO, she was allowed to live and work in the country under a special permit. On her retirement in 2015, she applied for residency as the special permit no longer...