Annuity freedom – CANCELLED!
The Government has revealed that the proposed annuity flexibility plan which was announced in April 2015 – along with all the new pension flexibility changes that are now in force – is not going to go ahead.
What is an unfunded pension and might you have one?
Those of you lucky enough (or so we thought) to have accumulated a pension pot over your working life time – with the promise of a good pension upon reaching 60 (such as the equivalent of two thirds of your final salary) may be in for a shock. Just like endowments, when these arrangements were […]
France revealed to be the most popular country with expats
More expats end up in France than any other country, according to MoveHub, which has recently released a report detailing global moving trends and revealing the favoured destinations of job-seeking migrants from all over the world. The international removal company analysed more than 180,000 move enquiries from April 1, 2015 to March 31, 2016 to see the most popular choices when it comes to relocating abroad.
In particular, the report looked at the moves of what it defined as 'professional migrants'. This means individuals who are motivated to leave their country of origin by better job prospects and the lure of growing economies, which could lead to a better quality of life. The countries that attracted the most movers were France (1st), the United Kingdom (2nd), and the USA (3rd).
Judgement day on the 21st of October for Banking in Portugal
On the 21st of October, this month, DBRS (Canadian rating agency) publishes its decision on whether it will maintain its BBB rating to Portugal. DBRS is the only rating agency – on a world scale – underpinning Portugal’s credit worthiness.
Residence or domicile? That is the question
One of the most frequently-asked questions asked by many of the 300,000 Expats living here in Spain is ‘am I resident or domicile?’ It is a good question, and one worth finding the answer to, as your residential status when living abroad affects the way in which you pay tax and how much you pay.
Blacktower MD, John Westwood, to take FEIFA forward into Brexit as Chairman
John Westwood, Managing Director and founder of The Blacktower Group, has taken up the post of Chairman at FEIFA, the Federation of European Independent Financial Advisers, following the trade association’s AGM on 21st September. Following two years as an Executive Committee Member John is both pleased and proud to take on this important role.
HMRC report details French QROPS
According to HM Revenue and Customs (HMRC) there has been little change in the market for Qualifying Recognised Overseas Pension Scheme (QROPS)s in the two weeks ending August 2016.
The continued uptake of QROPS in France is likely to be a factor behind this, with the number of offshore pensions available in the world rising by four to pass the 1,250 mark for the first time – the fact that nine schemes were delisted was more than offset by the opening of 13 new schemes.
French QROPS remain one of the most popular. However, QROPS are available across 42 different jurisdictions, with Australia still the foremost QROPS centre; its 302 available schemes account for around one-quarter of the those available across the world.
Retirees embracing life in new ways
There are very few life changes as profound as those that come with retiring. Increasingly, science is making clear what many retirees know already: that a fulfilling and long retirement is invariably a busy retirement. You might retire from your working age career, but the best way to enjoy your sunset years is to keep active, whether it is playing sport, creating art, being part of a community or having a “second career phase”.
Of course, in order to have an empowered retirement it is necessary that you make the right financial choices and if you are a UK expat in France, chances are that a QROPS will form part of your plan. Not only will your lifestyle change, but your spending habits will also follow suit.