Expat Pension Transfer News

Latest 10 news items tagged Pension Transfer

7 Nov at 6 PM 2019

Pension freedoms still highly popular with expat retirement savers

Retirement savers are still taking cash from their pension pots, but less has been taken out than in 2018. It seems pensions freedoms are still the name of the game for soon-to-be expat retirees, even although last year’s total withdrawals were slightly higher than this year’s to date. Official data revealed by HM Revenue and Customs shows some £30 billion sterling withdrawn since pension freedoms were introduced in 2015, with more detailed data for 2019’s third quarter showing £2.4 billion taken in flexible drawdowns. The...
5 Nov at 6 PM 2019

Retirement savers insisting on managing their own money via pension freedoms

Many UK retirement savers are now insisting on managing their own money. Arguments are now ongoing between pension regulators, financial advisors, pension providers and savers themselves as to the ifs and buts about transferring to a defined contribution scheme from a defined benefit pension, with savers wanting more control over their own money and the timing of their retirements. The major reason why pension savers wish to transfer is the pension freedom legislation which allows cash drawdowns from the age of 55. Defined benefit...
1 Nov at 6 PM 2019

Shrinking sterling hitting hard on UK state pensioners in Europe

Retired British expatriates living in a wide selection of EU member states have seen their lifestyles reversed due to the effect of Brexit on the sterling exchange rate. The UK state pension and many other occupational pensions are paid in sterling, leaving expat recipients to cut back as best they can during an exchange rate cut. During a meeting of the Lords EU Justice Sub-Committee, retired lawyer Jeremy Morgan QC – an expat himself – pointed out the plight of British expats living in Europe, adding the threat of losing the...
1 Nov at 6 PM 2019

Missing pensions can wreck the best-laid expat retirement plans

Millions of pension savers risk losing out due to missing pensions. British workers paying into occupational pensions are being warned they may lose their savings due to missing pensions. Numbers as high as three out of every four pension savers have no real idea how much they’re worth, nor how much they will need to spend as retirees, whether as expats or in the home country. Amongst the worst affected are those who’ve taken early retirement and moved overseas to less expensive countries, as they’ve often lost track of their...
28 Oct at 6 PM 2019

Western tourists and expats in Thailand to be replaced by Indians

Western visitors and expats are now shunning Thailand in favour of other nearby destinations. The previous effect of Western tourism in Thailand wasn’t just to bring short-term revenue into the country as many visitors decided to make the popular Southeast Asian destination their permanent home, either by retiring, starting a business, finding a job or even marrying a Thai girl and starting a family. Nowadays, fewer and fewer Westerners are travelling that road, due to a perception they’re no longer welcome, difficulties with...
28 Oct at 6 PM 2019

Bad Brexit news for British expats in Eindhoven

Whilst Europe watches the Brexit fiasco tottering towards some kind of conclusion benefiting no-one ,British expats in Eindhoven attended yet another British embassy meet-up. Held at Eindhoven’s Hub expat centre, both representatives from the British Embassy and the Netherlands Immigration and Naturalisation Service were present, ready and willing to interpret the bad news for around 50 UK citizens ranging from retirees to students. A number of retirees had been denied the referendum vote as they’d been living overseas for more...
22 Oct at 6 PM 2019

British expats in Spain rush to register as Brexit rears its ugly head

Brits in Spain are rushing to register as Brexit looms. With just over a week to go before the threat of Brexit becomes a reality, the numbers of British expats registering with their local authorities has soared, but the numbers of Brits officially registered in Malaga province tanked from 76,931 in 2013 to just 47,193 in 2019. Since 2013, the value of sterling has been steadily falling, putting pressure on the none-too generous UK state pension, and rises in property prices have also had negative effects on the Costa del Sol region...
18 Oct at 6 PM 2019

Brit expats in Bulgaria happy to ride out Brexit chaos and stay put

Expats in Bulgaria are deciding to stay put and ride out the Brexit storm.For most British expats living in Bulgaria, the country fulfils their requirements and they’re staying put – Brexit or no Brexit. Reasons include the fact that the cost of living is half that of the UK, and many simply don’t like what Britain has become since the referendum. Expat couples don’t have difficulties living on the total of two UK state pensions, and many live in the country’s small villages and are a part of local life. One British...
16 Oct at 6 PM 2019

Slump in expat arrivals hits Thai condo market

The soaring baht and a dearth of expat arrivals have hit hard on the country’s condominium market. Real estate agents across Thailand are hunkering down and hoping to survive what one developer is calling the most severe situation in the past 10 years. Prices have slumped during 2019, mainly due to the continued rise in the baht and a strong fall in the numbers of Chinese and Western expats arriving to work or retire. Almost half a million residential condominiums both in Bangkok and other major cities were left unsold in 2018,...
16 Oct at 6 PM 2019

Will the NHS collapse under the strain of returning British expats?

What will happen to the NHS should British retirees in Europe return to the UK? The worst scenario for a huge number of British expats living in retirement in Europe is the chance of losing their rights to healthcare due to Brexit. Should this happen, their only alternative would be a reluctant repatriation to the UK, thus putting a massive strain on the already stretched NHS. Recent estimates of the cost of servicing an influx of former expats come out at around half a billion sterling. The actual cost could be even higher than...