Expats “currently enjoy a range of specific rights to live, to work and access to pensions, health care and public services that are only guaranteed because of EU law. There would be no requirement under EU law for these rights to be maintained if the UK left the EU,” stated the government report.
“If the UK were to leave the EU then the UK government would need to disentangle the regulatory framework from EU law for the financial sector. Regardless of the exit negotiations outcome this would be a large and complex task,” it added.
As it stands, EU law accounts for most of Britain’s legislative framework, with many laws transposed from EU directives – this means that that should the “No” vote win in June, the need for sound and promptly delivered expat financial advice may be greater than ever before.
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.
UK pensions consultancy, XPS Pensions Group (XPS), has reported a concerning rise in “red flag” pension transfer scam activity. It says that the number of red flag incidents rose from 13% in June 2018 to 34% in June 2019 and calculated the total value of the pensions savings placed at risk during the 12-month period at £73,000,000*.
As an expat, choosing a robust life insurance policy, as well as medical insurance, can provide help to reassurance that you and your loved ones will be cared for should the worst happen. And recent research has highlighted just how valued such policies are.