This is the Wikipedia definition of a QROPS. A Qualifying Recognised Overseas Pension Scheme, or QROPS, is an overseas pension scheme that meets certain requirements set by HM Revenue and Customs (HMRC). A QROPS can receive the transfer of UK Pension Benefits without incurring an unauthorised payment and scheme sanction charge. The QROPS program was […]
Despite the multitude of resources (websites, books, magazines, advisers, etc) available for expat retirees, there will always be those who fail to make their retirement savings last for the rest of their lives. There are many ways to avoid this, some of which are more proactive while others are reactive in nature. But none of […]
Help!! I’ve Got 3 Work Pension Schemes, 2 Personal Pensions And I Can’t Keep Track of Them All – A Case Study
Like many workers who change jobs as they climb the corporate ladder, Paul, 42 years old, has lost track of a range of personal and work pension schemes. In the past 15 years, he has worked for 5 different companies in 3 different countries. He has also moved house seven times. He lives with his […]
According to recently published figures, a staggering GBP3 Billion is sitting unclaimed in occupational and personal pension funds. As well as being down to workers generallu moving company more frequently and as such losing track of their pension funds, this problem has been exacerbated by companies changing their name or ceasing trading. As expats this […]
I have recently been working with a client who has a frozen pension scheme with his employer. He has worked for the same company (a large multinational) for the past 20 years. The first 10 or so were spent in the UK and he was a member of the pension scheme there for that time. […]
There are 3 basic risks for retired expatriates. They are: Longevity Risk – The risk that you live for longer than your money. Market Risk – The risk of adverse market conditions through your retirement. Inflation Risk – The risk that the cost of living increases more rapidly than your income.
Let’s start this blog with some good news, UK mortality rates rose again last year. This means that, statistically at least, you are likely to live for longer. The number of deaths fell to 484,000 in 2011, this is the third year in a row they were below 500,000, figures from the Office for National […]