Retiring abroad can be a great experience – but the good times can also come with worries, particularly surrounding your pension and how it’s faring in today’s volatile market place. British pension rules are complicated and fast-changing , so it’s understandable those who live abroad can feel a bit ‘out of things.’ That’s where iExpats can help by delivering the latest headlines and key information explaining everything you need to know about claiming the State Pension from overseas and expat pensions. Our writers also look behind the scenes at the latest trends in lifestyle and living abroad – including detailed reports about Qualifying Recognised Overseas Pension Schemes QROPS, QNUPS and SIPPS.
Qualifying Recognised Overseas Pension Schemes (QROPS) continue to show they are the rising star of expat pension plans by reaching a new high for the 19th month in a row. As HM Revenue and Customs released the latest QROPS List on May 15, 22013, the key facts are: The number of QROPS pension plans worldwide [...]
The fight against controversial pension liberation fraudsters has stepped up a gear with one firm working on a legal interpretation of a pension fund’s transfer rules to help protect their clients. Legal and General is now taking a tougher stance when approached by pension liberation firms requesting that a pension pot be transferred. They now [...]
Shocking figures have revealed that 12% of British workers aged over 55 have not saved a penny for their retirement, says the government’s Money Advice Service (MAS). Around 8% revealed that they believed they may never have enough money saved to retire. The figures underline a serious apathy towards pension saving in the UK – [...]
Foreign brides are blamed behind closed doors in Whitehall for the government’s decision to scrap state pensions for spouses of British expats. The government is worried that internet charmers on dating sites are luring British male pensioners overseas – and in some cases the attraction of up to £66 a week tax-free paid by the [...]
An ongoing legal battle between HM Revenue and Customs (HMRC) and the beleaguered investors in Singapore QROPS will go another round after the High Court gave permission for a new legal challenge. Around 120 investors joined forces to bring a group litigation action against HMRC after the taxman handed them bills for 55% of their [...]
The number of Qualifying Recognised Overseas Pension Schemes (QROPS) has reached a new record – pipped the previous peak in March 2012 by just one fund to hit the 3,002 mark for the first time. But the spread of QROPS schemes around the 46 financial jurisdictions offering the pensions shows 97% of all funds are [...]
Firms offering to liberate a saver’s pension are being targeted as part of a further clampdown by HM Revenue and Customs with clarification of where complaints can be made. Many of those who would undertake pension liberation, which is gaining access to your pension pot before the age of 55, are being told by financial [...]
Switching a UK pension to an offshore Qualifying Recognised Overseas Pension Scheme (QROPS) is a relatively simple paperwork exercise, but involves a much bigger shift in thinking. One of the issues that has shackled the QROPS industry is the hunt for short term gains. QROPS are not about early access to pension funds or cash [...]
Setting up a Qualifying Recognised Overseas Pension Schemes (QROPS) is no more of a problem than starting up any other pension. A QROPS is a specialist pension for expats and international workers who have left the UK for good and want to tap in to the easier access, flexible investments and tax advantages that the [...]
How would it feel if you were lying on comfortable sun lounger on a Mediterranean beach knowing that your life’s savings were securely invested in a tax efficient container ready for you to access any time you liked? That’s how it is if you make the most of the island Malta as a safe and [...]
Most investors are only too aware that they need financial objectives when putting portfolios together, but many forget to take their age into account. The chairman of the world’s biggest money manager, Blackrock, says the issue of people living for longer needs to be a major consideration when determining what investment portfolios should be returning. [...]
Beleaguered Harlequin Property has gone in to administration, blaming waves of negative publicity in the media. Many self-invested pension plan (SiPP) savers invested in Harlequin luxury resort developments in the Caribbean. However, investors have complained that few properties have been started even though around 5,000 have been sold off-plan. The final nails in the Harlequin [...]
The definition of how energy companies define their reserves for their balance books could have massive implications on share prices and the value of pension funds. Assuming that energy companies carry on investing at the same level as last year, they will spend around £4 trillion turning fossil-fuel deposits into drillable reserves over the next [...]
Company pension savers say they are not confident that their funds will provide for their retirement, according to a study. In addition, many don’t know what to do to improve their finances for their later years. The study was conducted by pensions experts Hymans Robertson, which also found that fewer than one in three pension [...]
New French laws calling for British expats have to declare the value of their personal pensions – including Qualifying Recognised Overseas Pension Schemes (QROPS) – have left financial advisers in a muddle. There are 39 QROPS based in France, but as a favourite destination for British expats, the new law could affect investors who live [...]
A global survey of pension schemes has revealed that a third of those in the UK are planning to reduce their exposure to UK equities this year. The Global Pension Risk Survey 2013, conducted by pension administrators Aon Hewitt, asked 241 pension schemes based in the UK what their future plans are. A third of [...]
Older celebrities make the news when they become pregnant older than the ‘norm’ – such as Halle Berry who has announced she is having a second child at the age of 46. It’s OK if you live a celebrity lifestyle and can afford kids as a pensioner, but the growing numbers of older parents are [...]
Naïve Americans are accused of making terrible decisions over managing investments in their 401k retirement plans. The view is from two professors who have detailed the mistakes Americans make in selecting their retirement saving strategy. However, their research effectively backs-up that from the Securities and Exchange Commission last year which found that many US investors [...]
Twelve more Qualifying Recognised Overseas Pension Schemes (QROPS) have opened – and for the first time for many months, no QROPS closed. The Republic of Ireland leads the way with five new QROPS – followed by Australia and Guernsey with two each, then the Isle of Man, Malta and the USA with one scheme each. [...]
BT’s rocketing pension deficit is causing alarm among analysts and investors after one merchant bank said the telecoms company would have to pump more cash in to ease the stress. The firm, Morgan Stanley, said that BT’s pension fund deficit would hit £6 billion when next year’s triennial review takes place. The situation is cause [...]
FATCA Critics Fears Arrest by US Authorities : The founder of a web-based platform which, amongst other expat issues, discusses the impact of the F...
FATCA Timeline After Deadline Changes : The IRS has pushed back the start date of FATCA – the Foreign Account Compliance Tax Act – from Janu...
EBT Ruling Hits Thousands of Banking Staff : Around 2,000 British employees of the US bank JP Morgan must pay income tax and national insurance c...
Interview: James Jatras, Lawyer and Anti-FATCA Lobbyist : James Jatras, a former US Diplomat and US Senate staffer, who now runs a legal firm in Washington D....
FATCA Closes Swiss Bank After Admitting Tax Evasion : The first big banking scalp has been claimed as US authorities enforce FATCA, a clampdown on financi...
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