Don’t put off today what you can’t afford to do tomorrow!
Despite the worldwide pension crisis and a growing acceptance that we must plan and save for our retirement, the harsh reality is we are not saving nearly enough.
Research in the UK and USA suggests that only 5% of citizens are saving sufficiently for their future. With governments already talking about increasing the mandatory age for retirement there is a serious concern that people will have to work during their golden years.
In the expatriate arena there is further concern. Besides having insufficient savings, many are simply not making full use of their offshore advantages.
But what about my State/Company Pension?
With shrinking working populations and rising life expectancies the days of relying on state pensions in our retirement are at worst over, at best numbered. Besides, for most people a state pension is simply not sufficient.
In the UK the going rate is just eighty-five pounds a week and as an expatriate you may not even be entitled to that.
Recent headlines also indicate that company pension schemes are becoming less and less reliable. Tens of thousands of people in the UK alone are facing significant losses due to the wind up of under funded pension schemes.
Even blue-chip companies are following the trend of shutting down their defined benefit pension schemes and putting the onus on the individuals to provide for their future.
Overseas Pension Transfers
Do you have deferred benefits held within UK Occupational Pension Schemes as a result of former employment, or have paid-up individual pension arrangements? If so, it is important to remember that even if you are residing outside the UK at the time the benefits are payable, they will still be fully liable to UK income tax. Our members can help you export your pension.
Time to Act!
We will provide you with all the information required, to make an informed decision about your future savings. We offer you a free and unbiased overview of your current situation and independent advice on the various savings and investments available to you.
