What Happened To QROPS Expat Pensions In 2017?

Expats have seen some big changes in QROPS offshore pension schemes during 2017. A massive qualifying rules overhaul by HM Revenue & Customs in April saw a new pension age test introduced. The rule stopped any pension paying benefits to anyone aged less than 55 years old and opened the way for the offshore schemes […]

Isle Of Man QROPS May Get Flexible Access

Isle of Man Qualifying Recognised Overseas Pension Scheme (QROPS) savers look set to win the same pension freedoms that are available in the UK. The Tynwald, the Isle of Man’s government has voted to back a motion supporting the introduction of flexible access pensions run on a similar model to those enjoyed in the UK […]

Future Pensioners Face Working for Longer

Bad news has come for Britain’s youth in the form of a report by the Office for Budget Responsibility (ORB). Charged with providing analysis of the state of the UK pension market, particularly state pensions, the ORB have delivered some shocking results. We all knew the UK pension market was on its knees, but the […]

Equity Release Covering UK Pension Shortfall

Homeowners have this year been forced to release equity from their homes in record numbers as the grim reality of a shortfall upon retirement hits home. Equity release allows the homeowner to raise money without the need to sell their property, and there are two options available for this method of finance. Either borrow against […]

UK Pension Terms Explained

Pensions are never far from being in the financial headlines. We all know it’s something we need to be thinking about, but every time we try to read something about it, something more instantly interesting tends to crop up and we brush any thoughts of the future under the carpet for the time being. ‘It […]

Clarity coming to UK’s pension industry

Fund managers from across the UK’s pension industry will be forced to reveal any and all hidden costs associated with their pension schemes in the face of new legislation. These costs regularly wipe thousands of pounds off a worker’s pension, and The Times states the new Government rules will ensure defined contribution workplace scheme fund […]

Rethinking the 4% retirement rule in America

Many experts in America believe the oft-cited “4% withdrawal rule” for retirement still holds up. The basic premise is that if pensioners withdraw 4.5% of their savings each year, their inflation-adjusted nest egg should remain for 30 years – the average time span used in retirement planning. Yet now, some experts are beginning to doubt […]

How the self-employed can save for retirement

According to the UK’s Office of National Statistics, there were approximately 4.25 million self-employed workers in October 2013. Whilst independence is one of the biggest advantages of being self-employed, it also causes problems, and not least with regards to saving for a pension. The state pension With a current worth of GBP 110.15 each week, […]

Expats Keep Spending Instead Of Saving For Retirement

Many British expats prefer to follow their dream lifestyle rather than save for their retirement when working abroad. High incomes and low taxes leave expats with plenty of cash, but they may pay the price for their lavish spending, warns financial firm Standard Life. Researchers looked at the lifestyles of British expats in Singapore and […]

Osborne Axes Winter Fuel Pay For Expat Pensioners

British government spending cuts offer cold comfort for thousands of expat state pensioners living in warmer climes as Chancellor George Osborne has axed their winter fuel payments. Around 100,000 British pensioners claiming the benefit live in warmer European countries – with most in the south of Spain. As state pensions living in the European Union, […]