Expat Pension Transfer News

Latest 10 news items tagged Pension Transfer

13 Jan at 6 PM 2017

Can UK expats rely on state pension to cover bills

The UK state pension is one the most ungenerous in the developed world, forcing many British retirees to relocate in order to take advantage of lower costs of living elsewhere in Europe or Asia. Taking into account that UK pensions are frozen unless the relocation is to countries whose governments have an agreement with the UK, even those who move to cheaper EU destinations can find it hard to manage due to currency fluctuations. Even so, for many expats, the UK retirement pension forms the majority of their retirement...
12 Jan at 6 PM 2017

British expat retirees not responsible for failing NHS

In spite of the perceived wisdom that elderly Brit expats are wrecking the NHS, aided and abetted by EU pensioners living in the UK, figures show the vast majority use heathcare provided by their countries of residence. Using numbers provided via a freedom of information request, the BBC has published an article with figures proving that the vast majority of UK expat retirees use local services under the EEA health card agreement. In Spain, 70,000 British retirees are registered to use the Spanish healthcare system, whilst in the UK...
9 Jan at 6 PM 2017

Expats and retirees paid in sterling feel exchange rate pinch

The shocking decline in the value of the pound sterling against major currencies is hitting UK expat pensioners as well as expats working overseas and being paid in sterling. The majority of UK expats are either retirees drawing pensions originating in the UK or professionals working on overseas contracts including sterling payments. Both groups are now being hard hit by the pound’s spectacular fall against a basket of major currencies. Overall, the currency has dropped 11 per cent over the last two years, but its fall post-Brexit...
6 Jan at 6 PM 2017

Best destinations for expat heathcare at the right price

For many expats weighing up the pros and cons of a particular country, the quality and cost of healthcare is one of the most important aspects. Affordable, quality heathcare is one of the most important aspects of expat life for older professionals looking for an overseas position, retirees seeking the perfect location and expats with young families, but standards and costs across the world aren’t easy to evaluate. Most would-be expats judge healthcare standards by those in their home countries as well as by the necessity of...
2 Jan at 6 PM 2017

Brit expats in Europe rush for UK temp jobs as carers

Thousands of UK expats on hard times due to the sterling crash are flying home to take two-week job as carers in British care homes. According to an investigation by the Telegraph, cash-strapped Brits are being taken on part-time and left in charge of elderly people suffering from dementia, learning difficulties and other illnesses common in old age. The report noted many recruits have no relevant qualifications and are being left to manage the best they can with just a few days’ training, a reference booklet and a telephone. The...
29 Dec at 6 PM 2016

Is Brexit good news for expat final salary pensions

In the UK, workers approaching retirement are facing scare stories about Brexit’s effect on final salary pension, but expat retirees may find opportunities as a result of the referendum. Nowadays, a final salary company pension seems essential for a comfortable retirement given the pittance offered by the UK state pension. Increasing numbers of older Brits both with and without occupational pensions are looking to retire to cheaper, warmer countries overseas. When final salary pensions were first introduced, they earned the...
28 Dec at 6 PM 2016

Will New Year changes in France affect expat life

Traditionally, New Year’s Day welcomes many changes, with France no exception to the rule. Expats living in France will be used to minor changes in laws and rules arriving with the sunrise on January 1, with 2017 being no exception. However, most rile changes and price hikes are minor, and won’t disturb most expats’ daily regimes or hit their pockets too hard. For example, the recently-announced minimum wage increase gives a miniscule 11 euros a month, just about enough for a sandwich with fries. For expats in employment,...
21 Dec at 6 PM 2016

Hope for EU expats as UK government warned over deportation

The UK parliament’s Joint Committee on Human Rights (JCHR) has warned the government of the impracticability of attempting to deport 2.9 million EU expats from the UK. Published last Monday, the committee’s strongly-worded report tells it like it is as regards mass deportations, and also notes that expats living and working in the UK should not be used as ‘bargaining chips’. The report in full highlighted the predicament of both UK citizens living in Europe and EU citizens in the UK, and states unequivocally their joint human...
18 Dec at 6 PM 2016

EU expats in UK face HMRC pension transfer block

In a surprise move by HMRC, French and Italian expats working in Britain are to be blocked from transferring their pensions to their home countries should Brexit force them to leave the UK. All French and Italian pension schemes on HM Revenue and Customs’ list of permitted international schemes have been removed in an unexpected move by the UK’s financial watchdog. Last month’s HMRC list of accepted overseas pension scheme showed 19 Italian and seven French pensions, all of which had disappeared from December’s updated list....
16 Dec at 6 PM 2016

May makes unexpected plea for UK expats during Brussels summit

Theresa May broke silence over the fate of UK citizens living in EU member states when she requested an early deal to protect their rights during an EU summit meeting. Although May’s plea seemed to fall on deaf EU ministerial ears, the fact she seems to be finally recognising the desperate plight of over a million Britons living in the European Union came as a surprise to many. Her brief intervention failed to get even an acknowledgement from EU leaders, lending strength to the assumption the EU wants a hard Brexit, but showing she...