News & Insights

Expats expected to seek HMRC QROPS transfers amid Brexit uncertainty

That said, there is certainly no harm in thinking about QROPS now, particularly in light of the spiralling pound and the need to consider the impact on foreign currency exchange rates – British expats should take whatever steps are necessary to preserve both their spending power and their existing retirement financial plans. And for those who have been thinking about becoming expats, with the future of freedom of movement in doubt, now is the time to do it – whether you are thinking of moving to Spain, France, Portugal or elsewhere in the EU.

One thing is for certain; with the economic uncertainty created by Brexit there is likely to be a both a massive surge in expat numbers and a dramatically increased demand for HMRC QROPS. This is because QROPS provides an opportunity for expats to transfer their pensions to a reliable and secure scheme outside of the UK but in English. QROPS investors also benefit from flexible investment opportunities, flexible taxation options and the, current, ability to withdraw a lump sum of up to 30%.

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

AROUND THE BRANCHES – Portugal Still Reliant on Foreign Investment

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While Prime Minister Antonio Costa may be jubilant, it is likely that he will continue to rely on the investment and economic stimulation generated by foreign citizens and expats if he is to help the country keep its spiralling debt under control.

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Is it time to update your savings and investments?

Blacktower FM - Euros

According to the Daily Mail Savers have £450 billion stuck in dinosaur savings and investment plans, millions are stuck with policies bought decades ago and which are no longer fit for purpose. Today, the returns they offer are rotten. Could this be you? Have you just let your financial planning take a back seat?  Well now is the time to act and make your money work for you.

Savings accounts and cash ISA´s 

Banks and building societies across the UK and the Banks in Spain have again slashed the interest rates they are offering on savings accounts and cash Isa´s , Lloyds, Halifax , Sabadell to name just a few.  The rates they are offering now are between 0% and if you are very lucky 0.75%.

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