Expat Pension Transfer News

Latest 10 news items tagged Pension Transfer

22 Nov at 6 PM 2017

Cliff edge Brexit to be poison for private pension payments

International lawyers believe Britain’s leaving the UK without a deal or transition period could spell disaster for UK retirees in France receiving personal pensions. Long-term expat retirees living in France and other EU member states are likely to be hit with the double whammy of being unable to access their personal pension payments as well as not having been able to vote Remain in the Brexit referendum. Negotiations so far seem to have gone from bad to worse, with the ‘cliff-edge’ scenario creeping closer day by day. The...
21 Nov at 6 PM 2017

Retirement savings no longer possible for many Brits

A new survey has shown retirement prospects for huge numbers of Britons are poor due to ever increasing costs, low returns on savings and increases in mortgage rates. The study, commissioned by a leading financial giant, gives scant hope of a comfortable retirement for British citizens on average wages, as it shows there’s not enough cash left after everyday expenses have been paid to even make a dent in a pension fund. Just 12 per cent of those surveyed said they put a proportion of their earning into a pension plan, with the rest...
10 Nov at 6 PM 2017

National Bonds to take on financial advice in UAE

Dubai-based financial firm National Bonds is planning to move into the UAE with a digital app offering affordable investments and general financial advice. According to National Bonds CEO Mohammed Qasim al Ali, IFAs in the UAE are very limited and only offer expensive options to potential investors and pension savers. The company will concentrate on challenging the poor advice given by established IFAs in the region by launching an app offering a varied selection of investment choices in addition to National Bonds. Al Ali told local...
9 Nov at 6 PM 2017

Expert warns against long term fixed savings plans in UAE

One major risk which can cause more devastation to expat finances than the average natural disaster is being publicised by one man who’s dedicated to educating expats on the dangers of investing. Andrew Hallam, a personal finance educator and author, has one mission in life – to warn expats worldwide against being taken in by dodgy IFAs punting fixed-term investment plans. The plans come with heavy commissions for the IFAs, with locked-in penalties as well as poor returns and high charges for the investor, but are sold across the...
9 Nov at 6 PM 2017

British expats in Spain lose €20 million after IFA firm collapses

The British boss of a failed pension advisory company has fled to Australia after losing his British expat clients some €20 million by the use of an all too familiar scam format. The 300 Brits who’d invested with Alicante-based Continental Wealth Management are mostly expats living in the popular Spanish resort of Alicante, and are now struggling to retrieve their lost money after the IFA firm closed its doors in September and its CEO Darren Kirby left for Australia with his ill-gotten gains. Those affected, spread across Spain...
9 Nov at 6 PM 2017

British pensioner knocked unconscious defending Costa bar owner from attack

A 77 –year old British pensioner was declared a heroine after she was knocked unconscious defending a Costa del Sol bar owner from an attacker brandishing a broken beer glass. Glaswegian grandmother Elizabeth Trueman was visiting her expat daughter in Fuengirola when the attack happened as a result of arguments over a drinks bill at the Bar Mortoni. Bar owners Hayley and Paolo praised her courage for wading into the fight without thought for her own safety. Trouble had been on the agenda since a group of men working on an adjacent...
31 Oct at 6 PM 2017

UK Autumn Budget raids on retirement savings predicted

Would-be expats looking to their personal pensions to find retirement overseas may lose out in the upcoming UK Autumn Budget. Raiding pensions is an habitual activity for British chancellors when the economy is slightly shaky, and it seems this year’s UK Autumn Budget isn’t likely to be an exception to the rule. An article in a well-known investment magazine purports the government may well be up to its old tricks again now the British economy is slowing. Over the past several decades, the annual attack on retirement nest eggs...
27 Oct at 6 PM 2017

Marbella pensioner scammed by fake driving license seller and fined by police

An American pensioner living in Marbella has been fined by police for using a fake international driving license purchased in good faith from a prominent expat businessman. Andrea Barnett was fined a total of €500 by local police after she was found with a fake international driving license she’d bought from local expat businessman David Klein. She’d paid Klein €300 for the license, and had no idea it was a forgery available online from Taiwan. Local police recognised the poorly-printed documents as they’d convicted another...
26 Oct at 6 PM 2017

Bremain in Spain calls for clarity on post Brexit provisions for UK expats

Following Alfonso Dastis’s pledge that UK expats resident in Spain will be able to stay no matter what the Brexit result brings, campaign groups are calling for reassurance as regards healthcare and other rights. Bremain in Spain’s chairperson Sue Wilson is claiming the right to remain without assurances on healthcare and other existing rights could result in Brit expats still being forced to return to the UK. She welcomed Dastis’s comments, but pointed out, if expats’ EU citizen rights were not protected, the right to remain...
24 Oct at 6 PM 2017

Financial firms log a deluge of complaints from clients

Consumers are lodging millions of complaints with the UK's Financial Services Agency over poor and unsuitable financial services. Allowing a financial advisor to manage investments and savings can be seriously detrimental to the heath of your wealth, according to consumer watchdogs. IFAs, financial firms and banks have been hit with a deluge of complaints about mis-selling and poor advice over the first half of 2017, with the vast majority based on financial losses. Over 950,000 consumers are claiming they’ve been wrongly sold...