Expat Pension Transfer News

Latest 10 news items tagged Pension Transfer

18 Sep at 6 PM 2018

Brit expat social security cheats nabbed by international team

Thousands of Brit expats living and working overseas have been caught illegally claiming British social security benefits. Millions of pounds’ worth of social security benefits have been fraudulently claimed by British expats living and working overseas, according to the Department for Work and Pensions. An investigation by the department along with international fraud specialists has resulted in a record amount of £1.1 billion being reclaimed, with expats living and working in Alicante and Madrid featuring strongly amongst the...
13 Sep at 6 PM 2018

UK expats win over HMRC in delisted QROPS case

UK expats with delisted QROPS have finally triumphed over the British taxman after a surprising court verdict. Recently in the First Tier Tribunal court, four appeals against HMRC were allowed due to the late serving of discovery assessments on delisted QROPs. Ina Hills, Nicolo Martin, Gary Connell and Gerrard Gordon had all transferred their pension pots to the Latvia-based Wenn International Pension Scheme at the time its QROPs was listed with HMRC in 2009. Subsequently in 2010, HMRC de-listed the scheme due to its failure to pass...
13 Sep at 6 PM 2018

Britons in France resort to anger over their plight

One of the worst aspects of the predicament in which UK expats in France now find themselves is conflicting information. For over two years, British expatriates who’ve chosen France as their home have been subject to misinformation, disinformation and occasionally outright lies by the British government and its ham-handed negotiating team. It’s been a roller coaster of hope followed by disillusionment, buoyed up again by hope before yet another let-down. Many have lived overseas for more than 15 years, disallowing them from...
11 Sep at 6 PM 2018

Scots expat business owners in Spain fear for the future

Scots expat business owners on the Costa del Sol are fearing for their post-Brexit futures. Even although the Spanish government has reassured expat businesses they can continue as normal post-Brexit, many are afraid the knock-on effects of losing the EU’s right to free movement will result in a dearth of British customers. Another concern is the effect of the falling pound on the number of visitors as well as on expat pensioners for whom a cheaper cost of living is a must. Visitor numbers in favourite Spanish coastal locations are...
5 Sep at 6 PM 2018

British pensioners refused insurance payout after their car was stolen and torched

A British expats couple are being treated unfairly by their insurance company after they were gassed and had their car stolen and torched. After falling into an unusually deep sleep, pensioners John and Jacqueline Armitage were woken by Spanish police knocking on their door to let them know their burnt-out car had been found after having been involved in a number of robberies. The horrified couple had no idea the Toyota had been stolen and are convinced they’d somehow been gassed prior to the robbery. According to John, he’s a...
5 Sep at 6 PM 2018

No deal Brexit still major risk for Brit expats in Europe

UK expatriates in Europe are still unsure of their rights some two years after the Brexit referendum. More than two years after the Brexit referendum, British expatriates living, working or retiring across the EU are no closer to having any security as regards their rights than they were when the result was announced. In spite of empty promises by the British government, it’s now clear the plight of over a million Britons is of no concern to the UK’s negotiating team. In a recent release of government papers outlining no-deal...
30 Aug at 6 PM 2018

Brits in Spain lose millions to yet another financial fraudster

In spite of endless warnings about financial fraudsters preying on expats, another Ponzi scheme has now been uncovered. Victims of the latest financial fraud in the popular Spanish resort of Marbella have claimed losses of up to six million in sterling due to a Ponzi scheme being run by a Welsh investment advisor. Rhys Williams lived the high life in the resort, persuading his victims to invest eye-watering amounts in a Dubai printing and paper recycling firm as well as in Dubai trading platforms. The fraudster guaranteed returns of...
29 Aug at 6 PM 2018

Bad news on workplace pensions for would-be expats

Would-be British expat retirees expecting agreed workplace pension amounts may have to trim their budgets. British pensioners who’re either planning to retire overseas or have already done so may find their workplace pension pays out far less than promised. According to a report by the British government’s Pension Protection Fund, two out of the three pension plans managed by the fund are heavily in the red. The PPF’s main focus is rescuing funds at risk when companies operating pension schemes go to the wall, thus ensuring...
23 Aug at 6 PM 2018

More bad Brexit news for long stay expat pensioners

British expats most at risk as regards their pension payments post-Brexit are those who’ve worked long-stay in Europe. Many British expats who’ve worked in Europe long-term and built up pension pots now held in UK bank accounts are most at risk of being unable to access their funds if a hard Brexit results. The reason behind the warning is that, according to EU pension rulings, cross-border funds can only be paid into an EU-registered bank account. At the present time, pensioners who’ve worked in EU member states and are now...
21 Aug at 6 PM 2018

Safeguarding your expat pension pot against a hard Brexit

As Brexit draws nearer with no agreement in sight, British expats in the EU are attempting to calculate the possible damage to their finances of a no-deal exit. Reports of the effect of sterling’s slump against the euro have increased concern amongst Europe’s UK expat communities about the likelihood of a hard Brexit causing further damage to the home country’s currency’s exchange rate. Nowadays, hundreds of thousands of British citizens are living in EU member states, with a majority of retirees living on their pensions. The...