Planning your retirement – questions to ask

If you are thinking of retiring abroad, then you have a lot to arrange. At the top of the list must be your financial arrangements. However, for a lot of people this can be complicated and you may not know where to start. If you have already retired or your retirement date is imminent, you […]

What will a QROPS cost?

If you are looking for a QROPS, you may have focussed on the upsides including tax benefits, increased flexibility and a large choice of schemes. However, a thorough appraisal should also involve a discussion of what getting a QROPS might set you back. So how much does a QROPS cost? Providers’ fees When QROPS were […]

Fight inertia and get a QROPS

Have you retired abroad but kept your pension in the United Kingdom? If so, you may be needlessly paying too much tax. For members of UK pension schemes who move abroad, a Qualifying Recognised Overseas Pension Scheme may be the answer to their problems. QROPS, as they are known for short, are overseas schemes that […]

BBC still in talks with the unions over “pensions robbery”

The BBC is still struggling to come to an agreement with its staff about how to plug the gap in its final salary pension scheme. The deficit currently sits at an estimated £2 billion. However, the liabilities of final salary pension schemes are typically difficult to value as they change according to life expectancy predictions […]

The politics of investment

There is much speculation among investors about who will win the UK election. Commentators suggest that a Conservative victory with a workable majority would be the markets’ preferred option, as the Tories have promised spending cuts to put the British economy on an even keel. Given that there is likely to be a budget in […]

Main reasons for getting a QROPS

Are you thinking about getting a QROPS but can’t face reading mountains of information about them? If so, you may wish to consider the following questions. What is a QROPS? First and foremost, what is a QROPS? QROPS stands for Qualifying Recognised Overseas Pension Scheme. They were introduced by HMRC so that members of UK […]

Change to indexing arrangements will cause hardship

Pensioners are still reeling from the government’s announcement that pensions can be indexed using the Consumer Prices Index rather than the Retail Prices Index. It was announced recently that the government changed the rules about how pensions should keep up with the reality of inflation. Up until now, the commonly used index was the RPI, […]

We need longer to deal with pension changes

In response to the government’s plans to speed up the higher retirement age, the National Association of Pension Funds has claimed that we need more time to deal with the changes. The previous government had planned to make the state retirement age 66 (up from 65) from 2020, but David Cameron’s government’s emergency budget has […]

Better news for final salary schemes

Pension Capital Strategies have estimated that the collective deficit for FTSE100 listed companies with defined benefit schemes is now £73 billion, at the end of June. Terrible as that sounds, that is a £17billion improvement on the position of the schemes at the same point last year. Only five of the FTSE100 companies have a […]

QROPS and the tax

When you get a Qualifying Recognised Overseas Pension Scheme, the main attraction is tax. Introduced in 2006, QROPS enable members of UK pension schemes to transfer their pension assets to schemes outside of the UK without paying British income tax. At first glance, the system seems too good to be true. However, the QROPS scheme […]