Contact

News & Insights

Netherlands Ranked First for Pensions

This put the two nations way ahead of the average score of 60.5 and, of course, of the last placed nation, Argentina, which scored only 39.2.

David Knox, who authored the Mercer report said it highlighted the difficulty in finding a balance between “what you offer and how long you can offer it”.

This is certainly true of most nations’ mainstream private pensions, with many predicting that they will struggle to maintain the balance over the long-term in the face of ageing populations and other economic pressures.

Italy, Austria and Spain — all of which scored high for adequacy but low for sustainability – are among the nations most likely to feel the pressure soon.

The study defined “adequacy” as being based on the level of tax flexibility, benefits, growth assets, system design and savings provided by a pension. “Sustainability” was defined on the basis of factors such as coverage, contributions, growth and debt. “Integrity” was defined on the basis of measures including regulation, costs, governance, protection and communication.

And this is not the first time that the Netherlands has topped the list – it ranked no. 1 seven years ago.

The Melbourne Mercer Global Pension Index is published by the Australian Centre for Financial Studies in collaboration with Mercer and the State Government of Victoria. The UK’s pension system was ranked in 15th place.

Blacktower, For Help with Your Expat Pension Planning

Blacktower Financial Management provides specialist expat pension advice from its offices across Europe, including the Netherlands and Denmark.

Our service is based on expertise, strong relationships, broad and forensic knowledge of the market and a close understanding of our clients and their investment objectives. For more information about how we can help you successfully manage your wealth and expat pensions, 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

Expat Financial Advice Crucial During Brexit Critical Phase

Direction SignsAttempts to find a roadmap for Britain’s post-Brexit future may currently feel interminable, but expats in the EU are beginning to make contingencies, or so it appears. A survey commissioned by an international money transfer platform has found that 34% of British expats are currently in the process of applying for citizenship or permanent residency in another country.

Uncertainty regarding the ongoing effect of Brexit is the chief motivation, and the impact on citizenship could be greater still; a further 23 percent of the adults polled during the survey (carried out by YouGov plc from 18-04-19 to 02-05-19) said they would seek citizenship for themselves and their family in the event of a hard Brexit.

Read More

Tax and Benefits Across Borders – Don’t Get Caught Out

Calculator with Euro buttonLiving as an expat in Spain, or indeed in any other country, brings particular and sometimes very complex wealth management requirements because managing personal finances across multiple jurisdictions is inherently complex and invariably requires specialist advice.

This goes some way to explain why thousands of British expats have recently been caught and penalised for either failing to pay taxes or unlawfully claiming British pension and other social security benefits while living and, in some cases, working abroad.

Cross-border taxation for expats is a notoriously confusing area of wealth management and can seem especially onerous with new data sharing and enforcement rules in place. Unfortunately, not all asset managers are as familiar with tax reporting requirements as they should be. This may seem inconceivable, but wealth management professionals in Spain, across Europe and indeed the globe have an obligation to clients to ensure that they understand and follow all the rules.

Read More

Select your country

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