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In a world of ever-increasing global mobility, investment goals and retirement policies of several who have moved to work overseas from the UK are under increased focus. With people moving around the world for work and settling down in new countries, there is a requirement...
The UK’s Autumn budget was released by the Chancellor Philip Hammond on 22nd November 2017. In a pleasant surprise, there were no major announcements which significantly impact on UK pensions. The main points of note included: - An increase in the UK personal allowance to £11,850 from 6 April...
When considering UK pension schemes, there are two main types: 1. Final salary or defined benefit schemes (FS). The value of your entitlement under this type of pension scheme is based on a set formula determined by the UK pension scheme trustees. The formula is generally associated...
The UK Spring Budget introduced yesterday by Phillip Hammond, has outlined significant changes to the QROPS market. The main changes were unexpected and need to be carefully considered by those with UK pensions who plan to emigrate, or have moved to live abroad and wish...
A combination of positive comments from the Governor of the Bank of England, Mark Carney, and a recent uptick in UK inflation has led to extra speculation in the UK that interest rates may rise sooner than later. This is set to have an impact...
If you are thinking of retiring to Australia or if you have already retired down under, you may be considering what you want to or what you can do with your UK pension scheme. A UK pension scheme is likely to still be taxed if...
The Australian Government has now finalised some of the changes introduced in the May 2016 Australian budget. These include the following: - The work test will remain for over 65s in order to make non-concessional contributions into Australian superannuation; - The non-concessional contribution limit to be reduced from...
In the recent late 2016 Autumn statement released by the HMRC, changes were outlined to the way QROPS are designed to work. Whilst not yet law, these changes are expected to be introduced (possibly in a slightly modified form) in April 2017. Some of the...
The HMRC has removed all but three Canadian QROPS schemes from its registered list. This move follows a similar step undertaken in various other countries (e.g. Australia) last year. The net impact of this announcement will catch many people out who were in the midst...
In the Autumn statement released on 23rd November 2016, Phillip Hammond outlined possible changes to the QROPS environment, as follows: ‘Foreign pensions – The tax treatment of foreign pensions will be more closely aligned with the UK’s domestic pension tax regime by bringing foreign pensions and...
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