Expat Pension Transfer News

Latest 10 news items tagged Pension Transfer

22 Oct at 6 PM 2019

British expats in Spain rush to register as Brexit rears its ugly head

Brits in Spain are rushing to register as Brexit looms. With just over a week to go before the threat of Brexit becomes a reality, the numbers of British expats registering with their local authorities has soared, but the numbers of Brits officially registered in Malaga province tanked from 76,931 in 2013 to just 47,193 in 2019. Since 2013, the value of sterling has been steadily falling, putting pressure on the none-too generous UK state pension, and rises in property prices have also had negative effects on the Costa del Sol region...
18 Oct at 6 PM 2019

Brit expats in Bulgaria happy to ride out Brexit chaos and stay put

Expats in Bulgaria are deciding to stay put and ride out the Brexit storm.For most British expats living in Bulgaria, the country fulfils their requirements and they’re staying put – Brexit or no Brexit. Reasons include the fact that the cost of living is half that of the UK, and many simply don’t like what Britain has become since the referendum. Expat couples don’t have difficulties living on the total of two UK state pensions, and many live in the country’s small villages and are a part of local life. One British...
16 Oct at 6 PM 2019

Slump in expat arrivals hits Thai condo market

The soaring baht and a dearth of expat arrivals have hit hard on the country’s condominium market. Real estate agents across Thailand are hunkering down and hoping to survive what one developer is calling the most severe situation in the past 10 years. Prices have slumped during 2019, mainly due to the continued rise in the baht and a strong fall in the numbers of Chinese and Western expats arriving to work or retire. Almost half a million residential condominiums both in Bangkok and other major cities were left unsold in 2018,...
16 Oct at 6 PM 2019

Will the NHS collapse under the strain of returning British expats?

What will happen to the NHS should British retirees in Europe return to the UK? The worst scenario for a huge number of British expats living in retirement in Europe is the chance of losing their rights to healthcare due to Brexit. Should this happen, their only alternative would be a reluctant repatriation to the UK, thus putting a massive strain on the already stretched NHS. Recent estimates of the cost of servicing an influx of former expats come out at around half a billion sterling. The actual cost could be even higher than...
14 Oct at 6 PM 2019

UK media campaign hots up against mis-selling of annuities

Expat retirees pushed into buying poor-value annuities as part of their relocation strategy may now be able to get compensation due to a campaign by a UK tabloid newspaper. The good news came as the result of the Daily Mail’s Mail on Sunday ‘Justice for Annuity Victims’ campaign, with the media outlet also urging the UK’s financial watchdog to probe more closely into the annuity market as a whole. Introduced as a result of a lawsuit fining Prudential the sum of 23.9 million sterling, the campaign drew reports from hundreds of...
14 Oct at 6 PM 2019

Expat pension schemes well prepared for Brexit chaos

Over 50 per cent of pension schemes are now considered safe from the after-effects of Brexit. A major concern for British expats living overseas has been the Brexit effect on their pension schemes, but the majority of schemes recently surveyed are well prepared for any fall-out. Just 20 per cent of the total numbers of providers believe Britain’s exit from the European Union may cause an increase in red tape and additional costs, with over half of existing schemes having taken measures to mitigate any risks. As previously...
4 Oct at 6 PM 2019

Expat retirees in Thailand hard hit by strong baht

As the Thai baht gets ever stronger against Western currencies, more and more expatriates are feeling the pinch. Thailand has been perennially popular with expat retirees from the Western hemisphere, but the inexplicable rise in the value of its baht currency is wrecking the carefully-calculated financial strategies of a good number of retirees dependent on monthly pension transfers from the home country. For British long-stay retirees, it’s even worse, as their pension payments were frozen at the rate current when they left the UK....
1 Oct at 6 PM 2019

Would-be Brit expats urged to check their destinations for frozen pensions

Would-be British expat retirees are being urged to check their favoured destination as to whether it’s subject to frozen UK pensions. As Brexit day approaches yet again, many Brits are finalising their plans to leave the UK to its own devices and settle down for a comfortable retirement elsewhere in the world. Many will be relying on the British state pension for their everyday needs, even although it’s now considered ungenerous at best. In the rush to leave, it’s possible a good few haven’t taken into account the harsh fact...
30 Sep at 6 PM 2019

No deal Brexit causing concern in British Overseas Territories

As the clock ticks down to October 31, Britons, expats and businesses in the British Overseas Territories are growing more concerned by the day. Unless a miracle occurs, the UK’s 20 overseas territories are as much at risk of dramatic consequences following a no-deal exit as is the UK itself. For example, residents on the Caribbean island of Anguilla weren’t allowed to vote in the 2016 referendum, even although trade with the neighbouring French Overseas Territory island of St Martin in essential products including fresh water will...
30 Sep at 6 PM 2019

Brit expats furious at losing their long term right to free healthcare

The news that Brit expats will be forced to pay for healthcare should a hard Brexit be the final result is causing fury in Europe’s foreign communities. Local media outlets are taking up the issue, stating British expatriates paid tax for all their working lives in the home country and calling the announcement a betrayal of ‘thousands of hard-working people’ who have the right to expect affordable healthcare in retirement, no matter where they’ve settled. One English-language expat newspaper based in Spain is reminding its...