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Expats can stay strong in face of Brexit

However, these are the salient points to keep in mind:

  • Blacktower’s clients should be reassured that for now they retain the same residency status and healthcare benefits as they did prior to the Brexit vote.
  • Tax treaties, investments and financial arrangements are not dependent on the EU but on both individual wealth management firms and individual member states, Blacktower’s members should feel confident in moving towards the future.
  • Blacktower is in a strong position to take advantage of any volatility in the market and expects to be able to benefit from any opportunities which present themselves, such as the ability to make favourable purchases of high quality companies with solid dividends.
  • Blacktower operates right across the EU, including France, Spain, Italy, the Netherlands, Portugal, the Canary Islands, Gibraltar, Grand Cayman as well as the UK. In the short to medium term our wealth management services and financial advice will not be affected by the Brexit vote and we look forward to serving the needs of our clients whatever the future may hold.

For contact details and to arrange to speak to your local IFA please see our country by country location pages. To fill in a contact form, please click here.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

European Union PEPPs to go Before Parliament

European Parliament, StrasbourgAccording to reports emanating from Bulgaria, expat pension choices may be about to become broader and more accessible with the likely introduction of the European Union PEPP.

PEPPs – Pan European Pension Products – are understood to be at the draft stage, with regulations set to be examined by European Parliament for possible approval.

The development of PEPPs has come about as a result of a perceived need to give people greater choice when it comes to planning their retirement pensions, particularly given that there is not equality of options for retirement savers across the continent. It may also help address the fact that, according to the EU, only 20% of workers between the ages of 25 and 59 make regular pension contributions.

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Auto-Enrolment increases number of savers, but are they saving enough?

Piggy bankStatistics from the Office for National Statistics (ONS) have shown that a record number of savers are now members of workplace pension schemes.

The figures show that the proportion of employees who are contributing to a company pension has risen significantly in the five years since Auto-Enrolment (AE) began.

AE was introduced in 2012 and makes it compulsory for employers to automatically enrol all eligible employees into a pension scheme unless the employee actively opts out. An employee is eligible for AE if they are aged between 22 and the state pension age and have a salary of more than £10,000.

In 2012, prior to AE, 47 per cent of UK employees were enrolled on a company pension scheme. This figure has now risen to 73 per cent in 2017. In other words, there are over 9.5 million more people saving for their retirement than there were five years ago, and it’s mainly thanks to AE.

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