News & Insights

Expats Retirement Planning – No-one can See into the Future

Yes, in all probability the pension pot billions that have already been transferred into various pension schemes by more than 120,000 expats since 2006 will probably be safe, but for those who have not yet made a decision regarding expat retirement transfers, there will almost certainly be another period of limbo.

The reality is that there is so much to be covered in the Brexit agreement that it will be no surprise if pension transfers are not resolved until some time after the March deadline, most likely in one of the budgets following the UK’s official departure from the EU.

And it is difficult to predict just what the government might decide is the best way to manage expat-retirement transfers post-Brexit. Some experts believe that they will remain in place but with additional charges, others believe that new schemes will arise to meet the altered landscape. Whatever the case, it seems that taking advice and planning now is the only way current expats can ensure they do not become stuck in limbo.

Of course, financial advisers cannot see into the future and anyone who tells you they know what will happen is really just speculating. So what we suggest is that you discuss your wealth management with a financial adviser as soon as possible, so that you have a clearer picture of where you stand right now.

Blacktower financial advisers work across Europe and beyond and have been helping expats manage their retirement planning and investment portfolios for more than 30 years. While none of us has experienced Brexit before, we understand our respective jurisdictions thoroughly and comprehensively, so you can be assured that whether you are an expat planning your retirement in France, Spain, Portugal or in any one of our serviced countries or regions, we will be happy to discuss your plans and support you as you negotiate the next few years.

Other News

Tops Tips to Avoid Pension Transfer Scamming

Stop message painted on roadThe Pensions Regulator (TPR) has recently acknowledged that pension scammers are being caught out and hindered by action from the government, regulators, the Work and Pensions Committee, and the wider industry, but added that vigilance is still needed.

On 22 May, speaking at the Association of Member-Directed Pension Schemes’ conference, TPR’s Anthony Raymond said that the plan to ban cold-calling is a welcome step-forward in protecting consumers, and that a recent High Court ruling, which saw four scammers ordered to repay £13.7million they had swindled from 245 victims, sent a clear message to fraudsters.

However, while this court action to regain funds for scam victims is brilliant news, the recommendations for pension savers are clear: stay aware of fraudulent activity and seek independent, regulated pensions advice before signing anything.

Blacktower’s top tips for scuppering the scammers

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Wealth Tax to be Scrapped in Andalucia

The President of the Junta, Juanma Moreno, announced on Monday that Wealth Tax will be scrapped in Andalucia from the 21st of September. This will apply to both Spanish nationals and to those who have a secondary residence there. The region follows Madrid as the second region to subsidize this tax.  This is being done […]

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