News & Insights

What’s Your Retirement Income Outlook?

Europe’s retirement income outlook

According to a February 2019 study by Ipsos for the ING Group, nearly two in five of non-retirement age Europeans believe that they will be unable to maintain their current standard of living once they retire; while half of the retired people surveyed said they had less income in retirement than they did during their working lives.

There was also some gender-split in the outlook of those surveyed: 30% of non-retired European males were optimistic about their retirement lifestyle, compared with only 23% of non-retirement European females who expressed this view.*

In fact, so many Europeans expressed doubt about whether they would have sufficient retirement income from their assets that half said they expected they would need to work during their retirement. However, 63% said that working into later life may bring social and health benefits, so it is perhaps not all bad news.*

Retirement savers need help and advice

The pension reforms of 2014 were largely only beneficial for wealthier savers with defined contribution schemes. But even this group is not necessarily immune to retirement income problems.

Anyone who has saved hard to create a pension, including those who have a career-spread of smaller pension pots, should seek pension advice sooner rather than later.

Expat financial advice for a wealthier retirement

Whatever the state of your savings and investments, seeking qualified, regulated advice is key to achieving peace of mind as you move towards retirement.

Blacktower Financial Management provides expat financial advice from its offices throughout Europe, the UK and the Cayman Islands. We bring more than thirty years of experience to our clients, helping them to protect and grow their wealth while taking full account of their unique cross-border financial situations.

If you would like to speak with us about having a review of your expat pensions and retirement investment strategy or to talk to us about other broader international wealth management concerns, contact your local office today.


* All figures taken from: – Accessed 11-07-19

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Good news on pension exit fees

It appears there is good news on the horizon for up to 2 million pension savers.  The UK Financial Conduct Authority (FCA) is looking at evidence that some major providers applied exit charges to people’s pensions without informing them.  In some cases, this amounted to nearly 40% of the value of the fund.

They are looking to see if they followed the rules which say they have to inform customers of any exit fees being applied.  This is good news for anyone who, in the last few years, has suffered from being in this position as they could be due compensation.

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