Expat Pension Transfer News

Latest 10 news items tagged Pension Transfer

19 Oct at 6 PM 2018

No need for UK expat panic over French draft law

A media clarification about the French government’s intentions for UK expats after a no-deal Brexit explains the issue as it now stands. Recent press reports on British expats’ status in France should a no-deal Brexit happen have caused unnecessary concern to many UK citizens who’ve chosen to make the country their permanent home.The French parliament’s recently released draft law does not in any way make life impossible for the British expat community. Misinterpretation of the document’s initial paragraph seems to have...
17 Oct at 6 PM 2018

Last South African QROPS removed from list by HMRC

The latest HMRC list has confirmed the removal of South Africa’s last QROPS. The list, published October 15, conforms the removal of the ABSA Group Pension Fund, with neither the group nor HMRC commenting on the removal to date. Normally, QROPS deletions take place for one of three reasons – either HMRC is investigating the scheme’s tax or administrative status, the last members has either transferred out or drawn down or the provider itself has closed down. South Africa has been a registered QROPS participant ever since the...
15 Oct at 6 PM 2018

QROPS transfer tax revenues disappoint HMRC

UK expat pensioners might well be overjoyed to hear the controversial QROPs overseas transfer tax has been a bitter disappointment for the UK taxman. Her Majesty’s Revenue and Customs was expecting a welcome windfall when it introduced the unpopular transfer tax, paid by expat retirement savers on the transfer of their offshore pensions. The British taxman projected an influx of cash at around £65 million, but only 30 eligible transfers took place during the 2017/2018 tax year, netting the taxman a paltry £1.4 million in total....
11 Oct at 6 PM 2018

Elderly, homeless expat in Spain helped by good-hearted Brits

A British expat couple living in Spain have rescued an elderly, homeless Briton who’s been wandering the streets for five years. David Langshaw and his partner Rebecca Pattinson first became aware of the homeless British OAP when he arrived in their Spanish village. After talking with him and getting to know him, they became aware of the previous five years of his life, spent wandering around Spain and moving from village to village. Rebecca told local media he’s covered at least 25,000 miles over the period after he left the UK...
11 Oct at 6 PM 2018

Algarve hospitals risky for expat heart attack patients

If you’re planning to retire to Portugal and have heart problems, it’s best to avoid the Algarve. Portugal is a favourite destination for expat retirees from the UK due to its reasonable cost of living, good weather and affordable property, with the Algarve already home to a sizeable expat community. Unfortunately, one statistic which hasn’t as yet featured in either the British media or local papers is bad news for expat residents at risk of having a heart attack. A recent study has revealed as many as 30 per cent of heart...
9 Oct at 6 PM 2018

Britons in Europe considering returning to the UK

Although it hasn’t had much in the way of press coverage, the decision to sell up and go home is being widely discussed within the British expat community across Europe. The discussions concern the fluctuating exchange rate, the uncertainty of the UK’s economy in the immediately post-Brexit future and the perceived value for money of UK property, as well as the likelihood of being able to survive in the UK on the measly state pension. At the present moment, the pound/euro exchange rate is hovering around 1.138, a significant 20...
8 Oct at 6 PM 2018

Meetup between Brit diplomats and expat campaign groups disappoints

Last week’s meeting in Madrid between leaders of UK expat anti-Brexit campaign groups and Britain’s Minister for Exiting the European Union Robin Walker seems to have been yet another unsuccessful attempt to clarify UK expatriate concerns. British expats living, retiring and working in Spain may well consider the sudden interest in their cause by UK parliamentary lawmakers is a perfect example of ‘too little, too late’. The meetup, held at the British Embassy in Madrid, involved Spanish business leaders, Spanish politicians...
4 Oct at 6 PM 2018

Brit pensioner and Thai wife steal cash and mattress from neighbour

A British expat retiree and his Thai wife have been arrested after being caught on camera stealing a mattress and cash. Sidney Michael Edwards and his wife Phensakao Nasok were arrested in a Pattaya rooming house last week after being caught on CCTV whilst stealing 126,000 baht (£3,000) and a mattress from an adjacent rented room. The couple. from Thailand’s Mukdahan province. had been staying in a rented room in Pattaya next door to another room rented by a Briton who was on holiday in Cambodia at the time. When he returned to his...
2 Oct at 6 PM 2018

Should UK expats believe government stance on pensions triple-lock

A major concern for retired British expats has been the possibility of the state pension triple lock being removed for those living in EU member states. Britons who’ve retired in Europe have already felt the effects of Brexit through the shrinking value if the pound sterling, with many now worried about the possibility of losing the inflation-linked triple lock annual increase. The British state pension is infamous for its meanness when compared with other international state pension schemes, with the triple lock increasing the...
28 Sep at 6 PM 2018

Philippines retirement visa an improvement on other SE Asian versions

If you’ve fallen in love with the friendly locals and laid-back lifestyle in the Philippines, retiring here is easier than in many Southeast Asian countries. The Philippines archipelago has been popular with older Western expatriates for some decades, but the numbers arriving are now increasing due to political instability in formerly favourite mainland destinations. The invasion of Cambodia by Chinese developers and their casino customers and the stiffening of immigration requirements and increasing xenophobia in Thailand are...