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Expats’ EHIC-Style Rights Guarantee a Step Closer

“For the 190,000 expat state pensioners who have chosen to live in the EU and those intending to retire to the EU, it will help by safeguarding reciprocal healthcare if there is no EU deal,” announced the government.

Baron O’Shaughnessy, Parliamentary Under Secretary of State at the Department of Health and Social Care commented, “Whether on holiday, working or retiring abroad, British people want to know they can access the same high quality healthcare that they enjoy in the NHS.

“This bill will allow us to implement new healthcare arrangements with other countries – in the EU and elsewhere – so that UK citizens can travel with confidence.”

Furthermore, the government has also reassured expats that it expects the existing EHIC scheme will survive “subject to an agreement with the EU”.

The bill was brought to parliament by Health Minister Jackie Doyle-Price. It lays the “legal basis to fund and implement reciprocal healthcare schemes and share necessary data after we leave the EU”.

Although the move has been criticised by some, it is undoubtedly a positive move as it represents an important contingency in the event of a no-deal.

Blacktower, expat financial services

At Blacktower we make it our priority to help you achieve your financial and retirement goals while also helping you negotiate all cross-border considerations, including those that are related to Brexit.

If you are seeking expat financial advice regarding Brexit</> and would like to find out more about how Blacktower’s wealth management services could benefit you, contact us today.

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

Custodial Sentence for Pensions Fraudster

PrisonAn investigation by The Pensions Regulator has for the first time resulted in an immediate custodial sentence for the perpetrator of professional pensions fraud, after William Bessent, an accountant who used his position as the trustee and administrator of a pension scheme to steal his clients’ savings, was sentenced to 40 months in prison. He pleaded guilty to multiple fraud charges, making prohibited employer-related investments, and separate charges of acting as a director while disqualified.

The landmark case, being heard at Preston Crown Court* will also hopefully result in the return of stolen funds. On July 5 the courts will seek to obtain a confiscation order in order to make Bessent repay the remainder of the money he owes; he has so far repaid £80,000 but owes a further £200,000.

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No flexible access for Gibraltar QROPS

Gibraltar LighthouseOn April 6, many new regulations for QROPS came into effect. These changes were made to make the taxation of foreign pensions more in line with UK pensions. Any QROPS not registered as being compliant with the new rules by April 5 could be delisted by HMRC.

One significant change means that, as long as they qualify under the other requirements, it’s no longer compulsory for schemes to adhere to the “70 per cent” rule. This is a rule that ensures providers ring fence 70 per cent of the pension contributions transferred into the QROPS in order to provide the saver with income for life.

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