Have you got a UK Pension you would like advice on? Contact us today for your Free Pension Analysis.
Recent changes in legislation have opened up a number of ways for expats with UK pensions to move them offshore.
There are a number of options which are available and the right choice for you will depend on your personal circumstances. The benefits of a pension transfer, however, can include:
- No liability to Irish or UK tax on pension income
- No requirement to purchase an annuity or Alternatively Secured Pension
- The ability to leave remaining fund to heirs – no IHT liability
- Payment possible in local currency – no exchange rate risk
- Investment freedom
- No lifetime allowance charge.
Also, at a time when many people are facing retirement with insufficient provision, it is estimated that over £3 billion of personal pensions or occupational pension funds remain unclaimed, and the Unclaimed Assets Register estimate this figure to be as high as £20 billion. Tracing old pensions can prove very lucrative for some people – reports of lost pensions providing sums of £20,000 plus are not uncommon.
For more information on UK pensions, please contact: firstname.lastname@example.org