The best course of action regarding your pension provision, will depend on your individual retirement planning. However, reviewing your options as soon as possible is likely to be the prudent course: yes, to wait and see what the Brexit impact on UK pensions is, might well be the right advice in the end, but upon reviewing your personal situation, goals and options with an experienced financial adviser, you may discover more cost-effective solutions.
How will Brexit affect pensions?
If you want to know how the relationship between Brexit and pension funds will change over time, or you’re curious to discover whether there might be an alternative solution better suited to your situation, you should empower yourself with knowledge and advice.
This means ensuring that you only receive guidance from a financial advisory firm that both understands the Brexit effect on pensions and has the relevant licensing and permissions to provide you with ongoing benefits, even once a transfer has taken place.
If you have any concerns about whether a firm might be right for you, you should speak to more than one independent financial advisor (IFA), and ask for references and testimonials from recent clients who have been through the pension planning process. EU licensed and regulated firms bring many kinds of reassurance, not least the fact that they offer certain protections in case anything should go wrong regarding Brexit and pensions.
If you’re worried about the Brexit effect on pensions, the best possible thing you can do is to get ahead and start putting processes in place, in case you need to make a change to your plan.
Blacktower can guide you through the Brexit effect on pensions
Blacktower offers a strong track-record of cross-border retirement planning expertise to the table in order to help each client understand and assess the various options available to them regarding the Brexit impact on UK pensions.
Throughout this process, we have one over-arching goal in mind: to focus on our clients’ best interests by providing expertise, independence and impartiality. This client-first approach is reflected in our fee structure: all our costs are clear and transparent and we have no restrictions on the type of Brexit and pensions advice (initial or ongoing) that we are able to provide.
Speak to us today so that we can help you understand your options, and offer clarity around Brexit and pension funds. It may be that the “best advice” is to leave your pension where it is. On the flip-side, however, additional circumstances – for example, Inheritance Tax concerns – may make some form of pension transfer seem like the obvious solution.
We can speak with pension providers to ensure you get the best possible deal. We are ready to help you negotiate a potentially life-changing decision with confidence.
With 17 offices throughout Europe, and bi-lingual advisers in all of these, we are able to assist you wherever you may be living in the EU. Contact a member of our team today.
Disclaimer: This communication is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice form a professional adviser before embarking on any financial planning activity.
Expat financial advice providers and their clients need to be especially vigilant to ensure that they meet their legal obligations under the newly updated Common Reporting Standard (CRS), which will come into effect in September 2018.