Low Cost QROPS search – How to navigate the minefield of options

Posted on by Liberty Wealth

Low Cost QROPS search – How to navigate the minefield of options

  Whether you have left Great Britain and wish to take advantage of benefits offered by transferring your UK pension offshore, via HMRC approved QROPS, or are simply enquiring to get more information on the subject, a key concern for a lot of people are the costs involved.   There are many important considerations to… Read more »

Lifetime ISAs – the new default pension choice?

Posted on by Liberty Wealth

Lifetime ISAs – the new default pension choice?

  On the 16th of March 2016 the chancellor of the exchequer, George Osborne, introduced a new method of saving known as Lifetime Individual Savings Accounts (lifetime ISAs or LISAs for short). It is now time to expose these and determine; What lifetime ISAs are The rules that are to be adhered to Benefits Drawbacks… Read more »

How the UK budget 2016 changes pension rules and what it means

Posted on by Liberty Wealth

Every year the British chancellor stands up to give his speech on how he intends to guide the UK economy on a successful journey by amending tax rates, rebates and allowances amongst other things to encourage people into altering their actions to the benefit of the populace at large. In an ideal world this would… Read more »

Swiss Third Pillar Pensions Guide

Posted on by Liberty Wealth

Swiss Third Pillar Pensions Guide

  Background The 3rd pillar, known as troisième pilier, was created in Switzerland after it became clear that people of retirement age were suffering a significant shortfall in their pension. In addition, Swiss authorities were also aware of the large tax burden that is present; especially for those with families thus creating a solution that… Read more »

Stockmarket Turmoil Overdone?

Posted on by Don MacRitchie

Stockmarket Turmoil Overdone?

  As I write the world’s major stock markets continue to suffer substantial turbulence and heavy selling with many into technical “bear territory” – This is where a group of shares have fallen in excess of 20% from their recent highs. As an example, the main UK market is down about 20%, Germany by 22%,… Read more »

Pension inaction could cost you £137,500

Posted on by Liberty Wealth

Pension inaction could cost you £137,500

  The UK Government will soon be altering a limit which may have a profound effect on the size of your pension. This move could see your pension pot substantially reduced if no action is taken. Despite the fact that this move was announced a while ago there are still many people out there who… Read more »

How to make pension drawdown work

Posted on by Don MacRitchie

How to make pension drawdown work

Following UK pension rule changes implemented in April 2015 pension drawdown has become a lot more prevalent. It is expected that these amendments will affect how people withdraw income from their pension henceforth in the British market. Certain overseas QROPS markets are already in the process of altering their pension regulations to benefit from the… Read more »

Pension exodus following April rule changes?

Posted on by Liberty Wealth

Pension exodus following April rule changes?

  Pension rule changes enacted in April were a huge change for the industry which, until then, focused on helping individuals accumulate wealth whilst they worked and then offered them an income for life, known as an annuity, upon retirement. Admittedly some individuals invested and withdrew income instead, though even in these circumstances there were… Read more »

How the Swiss pension system works

Posted on by Don MacRitchie

How the Swiss pension system works

  The Swiss pension system is based around a three pillar system. This is similar to others throughout the world: the first pillar is a state backed pension designed to provide a minimum income; second pillars are occupational plans, and third pillars are private pension schemes. First Pillar (Premier Pilier) The Swiss Government has been… Read more »

Achieve early retirement via financial independence realistically

Posted on by Don MacRitchie

Achieve early retirement via financial independence realistically

Being able to retire at an early age doesn’t just happen, it involves commitment, planning and maintaining realistic expectations. The following early retirement guide will specifically exclude extreme methods because for most of the population this simply is not realistic. Instead we will concentrate on the more prosaic issues including money management, how to get… Read more »

Finding the best QROPS. Guernsey as a QROPS jurisdiction examined

Posted on by Liberty Wealth

Finding the best QROPS. Guernsey as a QROPS jurisdiction examined

  Selecting the best destination abroad to transfer any UK pensions to depends upon your specific situation. Questioning whether the location has all the requirements you desire whilst ensuring that it still adheres to QROPS legislation will quickly narrow your selection and, thereby, help you find the best QROPS provider. With this in mind, here… Read more »

Finding the best QROPS. Gibraltar as a QROPS jurisdiction examined

Posted on by Liberty Wealth

Finding the best QROPS. Gibraltar as a QROPS jurisdiction examined

  For those considering a transfer of their UK pensions abroad they have a wide selection of Qualifying Recognised Overseas Pension Scheme (QROPS) providers to choose from based in a range of jurisdictions. To enable you to select the best QROPS provider you should first determine the most appropriate QROPS jurisdiction according to your requirements…. Read more »

Finding the best QROPS. South Africa as a QROPS jurisdiction examined

Posted on by Liberty Wealth

Finding the best QROPS. South Africa as a QROPS jurisdiction examined

  Most people considering transferring their UK pension to South Africa (SA) do so due to their intentions of retiring there. In these cases the transfer will involve using a Qualifying Recognised Overseas Pension Scheme (QROPS) since it is the only offshore option that is not liable for an unauthorised payments charge of up to… Read more »

Is Malta the best QROPS jurisdiction for you

Posted on by Liberty Wealth

Is Malta the best QROPS jurisdiction for you

  Having established that making an overseas (QROPS) pension transfer is in your best interests the next stage is to determine which location is most advantageous for you. It is therefore important to ask appropriate questions to establish whether or not all of your requirements are being met. Only after this step should you consider… Read more »

QROPS vs SIPPs following pension rule changes

Posted on by Liberty Wealth

QROPS vs SIPPs following pension rule changes

Choosing a QROPS or SIPPs may at first appear a difficult decision especially following amended UK pension rules which came into force on the 6th of April 2015. This is not helped when there is a lot of conflicting and occasionally inaccurate information available. A key point to bear in mind is that any generalised… Read more »

Latest QROPS list is revised. Australia drops from top to bottom jurisdiction

Posted on by Liberty Wealth

Latest QROPS list is revised. Australia drops from top to bottom jurisdiction

Her Majesty’s Revenue & Customs (HMRC) have released a heavily updated QROPS list following last month’s suspension. As highlighted at the time the list’s format has changed though the revisions centre around the layout and an extensive cull in the number of qualifying schemes rather than any fundamental alterations. The QROPS list therefore continues to… Read more »

HMRC QROPS list may be dangerous for your wealth

Posted on by Liberty Wealth

HMRC QROPS list may be dangerous for your wealth

The HMRC Qualifying Recognised Overseas Pension Schemes (QROPS) list is sometimes mistaken as a seal of approval that a listed pension plan meets all the rules required of it. This implies that it can accept UK pension transfers without a draconian penalty being applied. Furthermore, it can also be mistaken that a pension provider not… Read more »

Forex – the hidden risk to your overseas pension

Posted on by Liberty Wealth

Forex – the hidden risk to your overseas pension

Forex poses a genuine risk to expatriates though not in the way you may expect. According to the latest Office of National Statistics (ONS) figures over 3.5 million people have emigrated from the UK over the last 10 years. The vast majority of whom hold pensions that may now bear a greater risk to their… Read more »

Don’t fear HMRC’s QROPS list suspension

Posted on by Liberty Wealth

Don’t fear HMRC’s QROPS list suspension

  HMRC have confirmed that their ROPS list, previously QROPS list, is currently suspended having not been updated mid-month as expected. They have stated that a new one will be produced for the 1st of July.   This can be viewed as good news despite how it may first appear. The reasoning behind the mid… Read more »

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