Contact

News & Insights

Expats join forces to publish paper

The document, written by Jane Golding and Jeremy Morgan, two British lawyers living in the EU, was published by a coalition of 10 groups that represent British citizens who’ve made the choice to leave their home and move to another European country. Among the groups were Bremain, in Spain, and the British Community Committee of France.

The main argument put forward by the Alternative White Paper is that since the referendum “gave no mandate to alter the rights” of expats (who are estimated by the authors to be between 1.2 and 2.1 million in number), and considering that these expats would have originally made the move believing that their EU citizenship rights were “irrevocable”, it would be completely unreasonable to neglect their needs and leave their futures uncertain.

The document urges that everything must be done to ensure expats’ rights are not negatively affected and that these steps are taken as “a matter of urgency to bring an end to the anxiety” many expats are feeling over their future. Golding and Morgan make a case for all of the pre-Brexit rights of expats to be included in any Article 50 withdrawal agreement.

Issues highlighted in the Alternative White Paper include expats’ right to study, the right to have qualifications recognised in another country, the right to work, and their entitlement to healthcare. Another notable issue is concern over pensions, in particular whether expats’ pensions will continue to be uprated in line with inflation. The authors emphasise that all these rights are “indivisible”; it is impossible to take one away without having an undesirable knock-on effect on the others.

Theresa May has previously expressed the need to guarantee the rights of both British expats living in the EU and the EU citizens already living Britain at the earliest possible time. The report acknowledges May’s statement regarding this but mentions that since the Prime Minister has not yet confirmed which exact rights she wishes to guarantee, there is still much cause for concern.

If you’re an expat, then in this uncertain time it is important that you receive all the professional financial advice necessary so that you can best protect your money. Whatever the future holds in terms of Brexit, Blacktower’s financial advisers will continue to keep abreast of all the recent developments, helping you decide to do what’s best with your finances. Our range of expat financial services include giving detailed financial advice for expats during Brexit. This will include everything from wealth management to regular savings to setting up a QROPS (Qualifying Recognised Overseas Pension).

So, if you’re worried about any aspect of your financial management and how it may be affected by Britain leaving the EU, contact a Blacktower adviser 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

Final Salary Pensions – To transfer or not to transfer, that is the question?

Birds nest filled with cashRecent pension transfers I have been involved with include British Airways and BT, amongst others, and these have prompted me to consider their perceived “gold-plated” image and whether clients may be better off transferring out to a Self-Invested Pension Plan (SIPP), perhaps, or a Qualifying Recognised Overseas Pension Scheme (QROPS).

If you are contemplating your pension planning, ask your pension trustees to send you a Cash Equivalent Transfer Value (CETV) and you may be shocked by the size of the sum involved. The British Airways Scheme recently offered over £500,000 transfer value to a member whose pension entitlement would be £20833 at retirement. That’s 24 times the income.

Read More

Will the triple lock be scrapped?

Security LocksThere has recently been some worry over the future of the “triple-lock”, a measure put in place to help protect pensions in case of a steep rise in inflation (November 2015 saw inflation reach its highest level in two years).

So, what is the triple lock and what would its removal mean for pensioners across the UK?

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information:

You are currently viewing the Blacktower Financial Management EU website.

You may be looking for the Blacktower United States website.

Blacktower United States > X Stay on this site

Or choose your country.