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Private Pension – Options Explained by Keith Littlewood, International Financial Adviser Costa Blanca

In your 60’s? Then this is another critical time for checking your pension funds. Are they invested correctly? Are you taking the most tax efficient route in withdrawing? The list is too extensive for me to point out everything you should be looking at in this short article.

A raft of changes have taken place recently. In Summary:

  • Full access to UK pension pots now available from age 55
  • Flexible drawdown now available from most providers (you choose your own income levels)
  • Company pension schemes can be transferred to take advantage of flexibility (unless they were public funded e.g. Armed Forces, Police)
  • Not compelled to take annuity
  • Pension pots can be inherited, providing fantastic succession planning opportunities

Receiving advice on retirement planning before deciding on what you will do with your pension pot has become more important than ever before.

Questions to ask yourself: Where will I live? What lump sum should be taken? What are the tax implications? What about my partner? How much income will I need in five, 10, 15 or 20 years time? What happens if the pot is empty at age 80 and I am still alive?

If you feel like this and think you need some advice, or you would just like a helping hand to review what you have, why not contact me and I will sit down and go through your portfolio with you.

I have been a fully Qualified Financial Adviser for 28 years and also understand the needs of ex-pats and the rules that apply to ex British living and retiring in Spain. So, if you need to talk through your own situation then please feel free to call me and we can have a no obligation discussion about the best way forward for your investments.

If you need advice or if have any questions regarding the above you can contact me at: info@blacktowerfm.com

Other News

Banks competing for ex-pat money

I had a little laugh to myself this week reading some news from the UK. It appears that the banks may have developed a bit of a conscience.

Despite base rate remaining stagnant, there are signs that banks are competing for savers’ money by trumping deals offered by rivals. I have outlined some of the offerings below, read it and weep.  We at Blacktower would be ashamed if we were only offering the sadly low returns that the Banks are.

Read More

Tax Return Deadlines for Expats in the Netherlands

StopwatchIf your expat financial adviser in the Netherlands has not alerted you to the fact already, you should be aware that the deadlines for Dutch tax returns are looming. Depending on your circumstances, these are as follows:

  • 30 April – This is the general deadline and applies to the majority of taxpayers in the Netherlands
  • 1 July – This is the deadline for most non-residents, including those who are newly arrived in the Netherlands as well as all other parties who qualify as M Form taxpayers (those who have only spent part of the tax year in the Netherlands due to immigration or emigration)
Read More

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