Expat Pension Transfer News

Latest 10 news items tagged Pension Transfer

21 Jan at 6 PM 2020

FSCS decision strips expat investors rights over mis-selling

Thousands of investors and pension savers are now officially denied compensation for blatantly mis-sold funds. When the news broke that the UK financial watchdog’s investigation into Fast Pensions and its 15 schemes was in suspension, those who’d lost most or all of their retirement savings were devastated and unable to understand why the regulator was failing to take action as regards compensation. The company plus its five associated firms were closed down by order of the High Court in May 2018 for offering some 500 investors...
21 Jan at 6 PM 2020

Portuguese property price rises shutting out British expat retirees

Golden Visa investors are being blamed for soaring property price hikes. For a number of years, Portugal has been a favourite with British expats seeking sunshine and an affordable, less stressful lifestyle in a location without the rowdy reputation of many Spanish resort towns. The Algarve has been a favourite region for UK retirees on the none-too generous state pension, with many buying homes ahead of retirement and using them for their annual holidays. Sadly, Brexit has left the Algarve’s expat communities fearful about its long...
15 Jan at 6 PM 2020

Spain playing fair with its British expat population

Is the recent message to Brit expats from the UK Ambassador in Spain yet another example of ‘too little, too late’ after Spain’s promises? Over the years since the Brexit referendum, British expats in European Union member states have either been totally ignored or received confusing mixed messages from their relevant diplomatic authorities. Expatriates living, working and retiring in Spain have accused the UK of treating them as bargaining chips in bizarre negotiations which never seemed to result in any solid information on...
15 Jan at 6 PM 2020

Bad news gets worse for scammed expat investors

A further 100,000 pension savers are expected to have lost around £10 billion due to scams, with few realising they’re bereft of all or most of their retirement cash until it’s too late. At the present time, it’s believed over 100,000 pension savers have lost all or most of their investments after falling for smooth-talking IFAs, and it’s not just those resident in the UK who’re suffering. For several decades, British expats either working or in retirement in destinations ranging from European member states to as far away...
13 Jan at 6 PM 2020

HMRC under fire from scammed expat pensioners

The British financial regulator is now under fire from expat pensioners scammed by IFAs. As yet another QROPS pension transfer scam hits the headlines, the British HMRC is under fire for allowing rogue IFAs to register. Many who’ve lost their life savings due to the most recent scam in Spain have cited confusion over the regulator’s QROPS listing, taking them as approvals of the registered expat pension schemes. The list, issued bi-weekly, only requires scheme managers to self-certify their products, with potential investors...
9 Jan at 6 PM 2020

Expats warned over budget prefab homes on rustic land in Mallorca

Expats arriving in Mallorca are being warned about erecting or purchasing prefab homes on rustic land. Mallorca may not be as famous as its neighbour Majorca with established and would-be British expats, but circumspection and double-checking are recommended on both when buying a budget-priced home on rustic land. Rustic lands are those legally protected by local authorities and any moveable property found will be removed unless the area has been officially authorised by urban planning departments. To date, Mallorcan authorities...
2 Jan at 6 PM 2020

Brits and Spanish business owners now fearing Brexit disaster

Expats in Spain are growing ever more concerned now that Brexit is a grim reality. With just 29 days to go before Britain finally and officially quits the European Union, the reality of an uncertain future is now hitting hard on UK expats living, working or retiring in Spain. Since the disastrous result of the Brexit referendum, Britons overseas have been living in hope that the so-called ‘advisory’ vote would be reversed after common sense set in, but are now facing the reality of successful political manouvering by the UK’s...
31 Dec at 6 PM 2019

Expat investors concerned over property fund suspension

Expat investors are showing concern over the recent suspension of the M&G Property Portfolio fund. Following a surprise block on expat investors attempting to withdraw from the troubled fund, financial giant Prudential locked the entire £164 million portfolio, with a spokesperson stating the company had been lowering its exposure to British property across the board since January last year. He added that, early last year, charges were reduced and the objectives of the fund were altered, allowing sales of property in order to...
30 Dec at 6 PM 2019

Expats in Belgium struggling with soaring property prices

If you’re considering buying property in Belgium, perhaps now is not the time! Belgium is a popular choice for expats who’ve saved for a generous pension once retirement kicks in, but the development of its property market over the past decade doesn’t bode well for incomers. As this decade ends and another begins, Belgian property is expensive enough to spur media claims of overvaluation and house price inflation of up to 56 per cent. For Brits for whom Belgian beer, mayonnaise on chips and Belgian chocolates are a must-have in...
13 Dec at 6 PM 2019

Will Brexit affect expat British state pensioners’ winter fuel allowances?

Now that Brexit in one form or another seems certain, what will be the fate of the UK’s winter fuel payment? Given that the winter fuel payment made to British expats living in some EU member states is possibly the least of British expat concerns at this moment, for those intending to stay in Europe and who are receiving the payment it’s yet another problem. Winter is already here and forecasts suggest it will be severe all across the continent, with British retirees on the UK’s ungenerous state pension rightly concerned that...