Expat Pension Transfer News

Latest 10 news items tagged Pension Transfer

13 Aug at 6 PM 2018

Brexit negotiations still ignoring UK pensions passporting plight

Tens of thousands of retired British expats living in Europe could lose access to their pensions should a hard Brexit result. According to experts working in the financial service industry, the possibility of being denied access to regular private pension payments isn’t fake news as it’s perfectly possible. Director General of the Association of British Insurers trade body, Huw Evans has already warned British lawmakers about the illegality of paying pensions to expat policyholders living in the EU should a hard Brexit become a...
3 Aug at 6 PM 2018

UK FCA new ruling makes QROPs easier for expats

For those approaching retirement and thinking to transfer their pension to a QROPS, there’s a lot to consider. A recent ruling by the UK’s Financial Conduct Agency might well be of help to would-be expat retirees confused about their financial options as regards QROPs transfers. Until now, any pension with over £30,000 was subject to a transfer value overview provided by an IFA, but many advisers have refused to provide the recommendation due to the possibility of being sued by a client should their money be lost. As a result,...
2 Aug at 6 PM 2018

Expats and Brit residents fall for binary trading scam

Expats as well as British residents have lost all their savings to a binary options scam. Eclipse Finance Ltd operated from a registered office in London’s East End district and claimed to be marketing an investment scheme based on binary option trading, a form of fixed odds betting on financial market movements. The term ‘binary option’ represents a financial option which pays out either a fixed sum or nothing. Trading online and operating from its London-based virtual office address, Eclipse persuaded potential investors in...
30 Jul at 6 PM 2018

Expats advised to remit as sterling struggles

British expats living and working overseas are being urged to remit as the pound sterling is undervalued. As fears of a hard Brexit and its devastating effect on the UK’s economy increase, expats working overseas are being urged to remit before it’s too late. According to analysts, sterling’s instability will continue over the eight months left before Brexit kicks in, with the chance of a no-deal becoming ever more likely. Since mid-April, when the pound was at its highest rate since the 2016 referendum, many factors are...
30 Jul at 6 PM 2018

Aspiring expats may decide to keep working after retirement

New research suggests Brit workers are planning to phase in their actual retirement. British citizens coming up to retirement age are Europe’s most likely to take on part-time jobs once they’ve officially retired. Literally three out of every four Britons surveyed are planning to keep working beyond retirement, either keeping on the same job or finding part-time employment. The study, undertaken by a popular pension provider, also noted the UK’s flexible access pensions as well as relaxations of employment rules are contributing...
27 Jul at 6 PM 2018

How to legally avoid Portuguese tax on overseas earnings

If Portugal is your chosen expat retirement haven, checking out the country’s tax laws as regards foreign income could save you money. Portugal has long been a popular destination for expat retirees from the UK, but those receiving regular income from the home country are well advised to check their tax status with a local accountant. Basically, residents are taxed on their income, whether salaries, capital gains, rental from buy-to-let properties and any other income originating overseas and brought into the country. This means...
26 Jul at 6 PM 2018

Expat rights activist dedicated to helping Brits in France dies after brief illness

85-year old expat rights activist Brian Cave has died after a short illness, but will be remembered for his untiring efforts on behalf of the rights of British expats living in France. Mr Cave retired with his wife to France after his successful career as a teacher, and first became known for his determination and campaigning skills on issue such as the exportation of social security benefits for the disabled, the 15-year disenfranchisement scandal and the ending of winter fuel payments. He hosted the Pensioners Debout blog, was...
25 Jul at 6 PM 2018

British insurers warn hard Brexit could prevent overseas pension payments

The trade body of British insurers has warned the government that crashing out of the EU may invalidate the payment of British pensions overseas. In its starkest warning yet, the Association of British Insurers has informed the UK‘s Commons Brexit Committee the payment of UK private pensions overseas will be illegal should the UK crash out of the European Union without a deal. Pensioners who have their payments sent to an EU bank in their adopted countries may not be able to receive them. Although it’s likely that payments could...
24 Jul at 6 PM 2018

Expat graduate dilemma puts pensions before student loan repayment

Thousands of university students will graduate this year, with many taking their hard-earned degrees overseas to a long-term job in a new country. With Brexit looming and British companies backing off from hiring graduates due to uncertainty, a good number of newly-qualified Brits may well be searching for opportunities elsewhere in the world. At the back of their minds will be the dilemma of paying off a massive student loan or beginning to save for their eventual retirement, with very few able to deal with both. At first...
16 Jul at 6 PM 2018

White paper loses some 800000 Brit expats in EU

The mystery loss of some 800,000 UK expats formerly listed as living in EU member states is confusing, to say the least. Until the publication of Theresa May’s white paper on Brexit, an estimate of around 1.2 million British expats was considered accurate by government spokespersons and the media alike, and is still used as a total by the BBC, various British in Europe campaign groups and many other media outlets. It’s been quoted as accurate by the independent think-tank Migration Watch and also by the UK in a Changing Europe...