Expat Pension Transfer News

Latest 10 news items tagged Pension Transfer

21 May at 6 PM 2019

Expats in UAE to get retirement savings fund

The UAE is proposing a non-Emirati retirement savings fund to run alongside the expatriate end-of-service gratuity scheme. The UAE’s Federal Authority for Government Human Resources (FAHR) is in consultation over a new proposal to introduce a retirement fund based on savings for expat professionals living and working in the Emirates. The consultation is expected to decide on the best practice for the management of a pension fund. According to a spokesperson for FAHR, the move is expected to help both officials and employees plan...
21 May at 6 PM 2019

UK expat retirees hit hard by sterling volatility

British expat retirees in Europe have lost 14 per cent of their pensions’ purchasing power since the Brexit referendum. A report from a technology service handling more than 6,000 regular monthly payments to UK pensioners living in EU member states has revealed British expat retirees’ costs of living have risen by 14 per cent due to currency volatility. In comparison, the rate of inflation in the UK over the same time period is seven per cent. In addition to sterling’s Brexit-induced instability, the USA’s trade war with China...
20 May at 6 PM 2019

US Embassy advises expats to spend every last cent on health insurance

The US Embassy has issued a warning to its expats in Thailand urging them to get adequate private health insurance. Embassies in general seem to only address the problems their expat citizens face until issues have been done to death in local media and online by disgruntled citizens with genuine grievances. This latest intervention may well win the 2019 ‘too little, too late and uninformed’ prize as, for starters, it was the US diplomatic machine which suddenly refused to guarantee its expats’ monthly incomes as required by Thai...
15 May at 6 PM 2019

Scandal of NHS charges for British expat pensioners living overseas

British expats living across the world can be confused as to their entitlement to free NHS healthcare should they need to return to the UK. For British citizens who’ve decided to retire overseas after paying social security dues all their working lives, the use of the UK’s free NHS healthcare whilst living in another country as an expat has been controversial for some years. Up until recently, the law stating the NHS is a residence-based service was mostly ignored, especially for UK expats who’d returned to the UK specifically...
10 May at 6 PM 2019

Expat owners of UK property warned over inheritance taxes

As property prices in the UK continue to soar, expat Brit who own homes or buy-to-let investments back home are being warned about liability for inheritance taxes. During the last financial year, rising house prices have meant thousands more taxpayers have been dragged in the inheritance tax net, even although a good number had no idea they’d become liable. As a result, the British taxman was richer by a record haul of some £5.2 billion, and this amount is set to go on rising as property becomes ever more expensive. Last month,...
10 May at 6 PM 2019

HRMC publishes clarification rules for repayment of QROPs transfer tax

A new law introduced last month makes the QROPS transfer charge paid in error far easier to reclaim. Although it’s always been possible for UK expats to reclaim the unpopular, some say unfair, tax, the former process was confusing and slow, necessitating the new procedure in order to clarify the requirements in a formal, more easily understood manner. According to HMRC, the change will enable those entitled to a refund to make a correct claim at the right time as well as giving pension scheme managers and administrators a...
7 May at 6 PM 2019

Expat in Thailand writes to new immigration minister

Following the recent expat outcry about new visa rules, an expat living in Thailand has sent an open letter to the new Thai minister for immigration. Published in the Bangkok-based English language newspaper The Nation, the letter began with appreciation for the new immigration chief’s admission he wasn’t up to date on matters relevant to his new post. The previous incumbent, it added, seemed not to hear the appalled outcry amongst the estimated hundreds of thousands of expats following the publication of his recently-announced new...
3 May at 6 PM 2019

Fake electricians hitting on Brit expat pensioners in Marbella

It seems Brit expats’ favourite retirement hub in Spain is reverting to its old title, the Costa del Crime! Yet another report of criminal activity along the Costa del Sol is hitting the English language press, increasing the fears of local British expat retirees about the safety of their chosen bolt-hole. A recent media report indicates local villains’ favourite rip-off techniques are back in favour, as yet another phony electrician is arrested by local police after robbing at least five homes in Marbella. Carefully choosing...
2 May at 6 PM 2019

Questions to ask your workplace pension provider when saving for retirement overseas

If you’re saving as part of a plan to retire overseas as an expat, you need to ask your pension provider four important questions. The British government’s introduction of auto-enrolment schemes for work-related pensions has meant a record high in the numbers of older workers now saving regularly for retirement. However, a recent warning from Minister for Pensions Guy Opperman states savers may now be aware they’re paying fees to save their own cash. Recent new laws force pension schemes to inform all participants exactly what...
29 Apr at 6 PM 2019

90 year old expat leaves Thailand as compatriots deride immigration unfairness

As a result of negative changes in attitude towards Western expats in Thailand over the past decades, as well as the toughening up of visa requirements, a 90-year old invalid expatriate is leaving for an overseas city with a warm climate. Donald Graber chose Thailand as his retirement haven when the Southeast Asian country was the promised’ Land of Smiles’, genuinely welcoming strangers from the West and making them feel they’d found their forever home. Over the years, Donald still saw Thailand as the place he loved, but began...