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%.

Other News

Expat Pensions Take Centre Stage

International ConferenceThe Conservative Party has used its annual conference in Birmingham as an opportunity to reassure British citizens living in the EU of the future of their expat pensions.

Speaking at the event Ester McVey, the Secretary of state for the Department for Work & Pensions (DWP) said, “We will ensure that people with UK pensions that have moved to the EU will have their pensions protected.

“We will provide a triple lock on people with UK pensions living in the European Union. We are delivering a private pension revolution, with more people than ever contributing to their pensions.”

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5 Misconceptions about working with a financial adviser

If you’re considering wealth management but are completely new to the process, you likely have some preconceived ideas, and possibly reservations, about what working with a financial adviser is like. Like a lot of the industry, there are plenty of myths and misconceptions surrounding the financial advice service, some of which can be off-putting to […]

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