Expat Financial Advice a Must When Returning to UK

Since the Pensions Freedom Act came into force in the UK, in April 2015, there has been a huge outflow of money from defined benefit pension schemes and personal pensions in the UK. Many people have taken advantage of the new flexibilities by having control of their own pension pots.

However, it’s becoming increasingly difficult to transfer from some schemes now, as hurdles have been put in place by some providers.  It is true that these hurdles ensure that individuals are not transferring their pots to unauthorised schemes, but they also act as a “double check” that the advice provided about the pension transfer is from a qualified Independent Financial Adviser (IFA).

When relocating to a new country, it’s good to know all your options so you can ensure you have the smoothest transition possible. For one thing, there’s the financial side to worry about.

This includes deciding on the best expat life insurance policy to buy as well as receiving expert pension transfer advice so that your retirement savings aren’t negatively affected by the move. 

Naturally, some nations offer a smoother residency transition, with Portuguese citizenship and Maltese citizenship among the best, according to research.

Understanding citizenship entry requirements

You will, of course, also need to be aware of the entry requirements for each country.

Several countries have systems in place with the goal of attracting expats who will be able to gain residency in return for an investment. In a post-Brexit world, these may be the best options for some overseas movers. Although not suitable for everyone, some of these systems are of a very high, reputable standard and hold a range of benefits for expats who are eligible. A recent survey has analysed which countries offer the best of these migration schemes, with people choosing to buy Malta citizenship and Portugal citizenship as a matter of priority.

What makes the best citizenship programmes?