Gibraltar Annex to Withdrawal Agreement

There has never been a better time than now for British nationals living in the EU to consolidate their retirement plans by properly investigating their expat pensions options.

Post-Brexit, sterling has fallen dramatically against the euro and for many the uncertainty surrounding expat pensions is causing understandable anxiety.

Currently, British expats living in the EU receive an annual rise in the state pension; however, this could change in the post-Brexit environment, meaning that many face the prospect of frozen pensions and as a result are giving serious consideration to the idea of returning to the UK.

While these uncertainties are not to be dismissed lightly it is worth remembering that exit negotiations are yet to begin and freedom of movement and state and expat pensions are all likely to be issues for discussion once talks do start.

For many retirement savers finding the best way to realise pension plan benefits will be the key to unlocking a financially secure retirement.

Pension transfers, whether from a defined benefit plan into a QROPS, SIPPs or other vehicle, are likely to be an important consideration as part of this process. However, in recent years it has become clear that although pension transfers can be advantageous for many individuals, particularly those who live abroad in the European Union, a minority of advisers are failing to properly examine the question of suitability, thereby resulting in some investors being saddled with an unsuitable product.