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QROPS in France – Still a Suitable Scheme Post Brexit?

In fact, the need to do this may well be greater than ever before. There is a reasonable probability that significant changes will soon be afoot; by evaluating your options now you may still be able to take advantage of the flexible pension arrangements that are currently available to UK expats in France.

Of course, there is always the option to leave your UK pension in place and to perhaps convert it into some form of income – perhaps as an annuity – but such arrangements may not always offer the flexibility or tax advantages of taking out a SIPP or QROPS in France, so you need to be clear about the pros and cons of this course of action before making any decision.

For all the misguided and sensationalist talk of British pensions becoming “illegal” in the event of a no-deal Brexit, the truth is that the UK has long had cordial relations with all of the countries in the EU, particularly France, Spain and Portugal, with the latter the UK’s oldest and most trusted ally. It is highly unlikely, to the point of improbability, that agreements will not be reached with any EU country.

Furthermore, any person in France with a QROPS can have every confidence that the pension transfer will continue to offer flexibility, as well as tax and inheritance planning benefit – these will be likely to continue operating in exactly the same way they do now whatever the outcome of the protracted Brexit negotiations. However, be aware that as there are no QROPS schemes existing in France, you will need to select a fund from a qualifying scheme from the European Economic Area.

This is not to say that a QROPS in France or indeed a SIPP are the only pension options available to expats – it may just be that they are the most obviously workable. For more information it is definitely worth speaking with your adviser.

Pensions advice for expats in France

British expats in France have many options regarding how they choose to structure their pensions.

Here at Blacktower we work to help our clients with all aspects of their wealth management, inheritance tax planning, pensions and more. Call us today for more information and tailored advice.

Other News

Saving for Education – Now is the Time to Act

School signPrivate school education offers many benefits outside of the obvious statistical performance advantages. As much as anything it is about allowing for personal growth, developing confidence, providing opportunity and building beneficial networks and skills that will last and serve for a lifetime.

But it can be expensive, and this is why intelligent use of expat regular savings together with a holistic wealth management strategy can help both parents and grandparents make the necessary plans to ensure that their descendants are able to enjoy a first-class education with only the minimum of stress.

Of course, the cost of fee-paying schools varies depending on which school is attended, whether the pupil is a boarder and, indeed, whether the pupil is living in the same country as its parents. But regardless of whether the cost is just €5,000 a year for a single pupil or €60,000 a year for two pupils, meeting these costs is going to require you to optimise your expat regular savings towards your education fee planning needs.

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Expats can stay strong in face of Brexit

It may have been close run thing but the UK has voted to end its membership of the European Union and now is an appropriate time for all concerned to consider the implications.

Fortunately, and despite the atmosphere of doom and gloom that has seemingly engulfed the country since the result, there is no need for any particular panic or even urgency. The exit process is expected to be long and drawn out, and although most experts predict it as inevitable there is still some realistic prospect of a renegotiation, particularly in light of David Cameron’s resignation.

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