Posts Tagged: Pension

Swiss Third Pillar Pensions Guide

Posted by & filed under Swiss Pensions.

Swiss 3rd pillar system

  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 »

How to make pension drawdown work

Posted by & filed under Retirement planning, UK Pensions.

Pension drawdown article

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 by & filed under Retirement planning, UK Pensions.

Pension April rule changes results

  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 by & filed under Swiss Pensions.

Swiss 3rd pillar system

  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 »

How retirement planning makes you wealthier

Posted by & filed under Retirement planning.

Best retirement planning feature pic

  The best financial management involves planning to ensure that your goals are achieved as efficiently as possible. Creating objectives and prioritising can allow you to amass sufficient funds to provide for a long and prosperous life in retirement. What follows is a guide of how you too can create the best opportunity for achieving… Read more »

What is an annuity and should you have one?

Posted by & filed under Annuity, UK Pensions.

Pensions, what is an annuity & how do annuities work

An annuity is a common form of pension investment for retirees. Below we will answer the following questions; What is an annuity? How do annuities work? What are annuity rates? What are annuities benefits and drawbacks? What are the common types of annuities? Alternative options MoreWhat is an annuity Annuities provide the holder a form… Read more »

HMRC lists QROPS providers

Posted by & filed under QROPS list.

Pensions - HMRC ROPS list: Breakdown of each jurisdictions QROPS providers.

HMRC have produced their latest Recognised Overseas Pension Scheme (ROPS) list detailing over 3,700 QROPS providers covering 45 jurisdictions. As mentioned before, HMRC’s QROPS list has morphed into the ROPS list though nothing has changed except the wording. To clarify, all QROPS providers are self certified and may not be qualified upon further scrutiny. Similarly,… Read more »

Weighing up QROPS benefits and drawbacks

Posted by & filed under QROPS.

QROPS benefits and drawbacks, pros and cons, advantages and disadvantages, strength and weakness graphic

Transferring your UK pension abroad into a suitable pension plan should only be considered after all of QROPS’ advantages and disadvantages are fully scrutinised.   Starting with the downsides of QROPS we will consider each point and determine whether any benefits outweigh them… MoreNon beneficial to UK residents with no intention of moving abroad If… Read more »

QROPS drawbacks – The downsides of transferring a UK pension abroad

Posted by & filed under QROPS.

Although QROPS offer multiple benefits over their UK pension equivalent they do have drawbacks as well. Following the latest pension amendments these disadvantages are as follows; Only benefits UK pension holders based abroad Not designed for the accumulation of further benefits Any existing pension rights will be lost Costs can exceed alternative options Risk of… Read more »

Early retirement – accessing your UK pension before 55

Posted by & filed under QROPS.

Would you like a way to retire early? Have you even considered the possibility of withdrawing money out of your pension before the state rules permit? For those based overseas, you may have heard that one benefit of transferring your pension abroad into a QROPS is the ability to do exactly this.   To explain,… Read more »

QROPS – Benefit crystallisation event

Posted by & filed under QROPS.

Are you aware that you can be taxed on your UK pension if it grows too much? Also, that if you reside outside the UK then you can avoid it by transferring your UK pensions into a QROPS? This is due to the rules surrounding benefit crystallisation events and the lifetime allowance (LTA). A major… Read more »

QROPS UK pension transfer mistakes

Posted by & filed under QROPS.

QROPS can be beneficial in the correct circumstances though due to bad or mis-informed advice it is possible that they may end up being a costly mistake.   To ensure you are not on the end of a QROPS mis-selling scandal it is important to be fully informed. Take these steps to establish whether a… Read more »

HMRC ROPS list (Prev HMRC QROPS list) – 1st May 2015

Posted by & filed under QROPS, QROPS list.

HMRC have issued their latest ROPS list. Following a clarification in wording it is no longer officially known as the QROPS list though unofficially it appears that nothing has changed with how the lists are composed. As before, QROPS* can self certify for their inclusion whilst other, legitimately qualified pension plans, may decide against being… Read more »

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