News & Insights

Expat Pension Concerns Cause Dwindling Number of Brits in EU

There are also concerns that British expats will not have their State Pension uprated in the event of a no deal. This is because for this to happen, deals would have to be made on a country-by-country basis and is only possible if host countries reciprocate.

Planning is Everything

Impending probable Brexit and all the uncertainty accompanying it should not be enough to dissuade anyone from emigrating or indeed to prompt expats to return home.

By properly planning their expat pensions, both state and private, expats can ensure that they have contingencies in place.

Although nothing is guaranteed at this stage it is difficult to envisage a situation in which expats in EU member states lose their rights to residency and healthcare.

As ever, decisions about where to reside should be made purely on an individual basis, by weighing up the costs and risks involved and how these align with your ultimate goals. These considerations were important even before Brexit raised its head, so no one should panic yet. But if you believe that you might be looking to relocate back to the UK, it is wise to have an exit plan just in case.

Blacktower Financial Management

Blacktower Financial Management works to help its clients clarify their personal financial positions and to create long-term strategies for realising their goals.

Our service can help you wherever you are and whatever your wealth planning concerns—from expat pensions to inheritance planning and cross-border tax planning, we have it covered. Contact your local office today for more information.

Other News

Successful Wealth Management in 2019

Stocks, bonds, mutual funds and commoditiesTo make the most of the rest of the year, one important wealth management question you should be asking yourself now is how diversified do you need your investment portfolio to be.

You could follow this with more questions: are you invested in a single country or region? What about industry sectors? And how is the mix of your asset types looking?

These questions, and your answers to them, can help you review and build your investing strategy so that you can provide for your retirement objectives. Having an understanding of some of the theory behind a good strategy is a good place to start.

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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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