Showing 1 - 10 of 20
Bringing your UK pension to sunnier climes
Spectrum, Andrew Wood, Published on 01/02/2015
» In our last article on UK private pension liberalisation, we looked at schemes in the UK and how they are affected by the latest government regulations. From April 6, 2015, any private pension scheme held in the UK may be liquidated and the entire pot withdrawn. While this is a very attractive option for many, the reality is that income tax will be levied on these proceeds at the individual’s marginal tax rate for that year. As a consequence, taking the pot in one go will not be as tax-efficient as taking staged drawdowns each year, or as required.
When your house is not a home
Spectrum, Andrew Wood, Published on 02/11/2014
» Many expats have conflicting views of the difference between domicile and residence. One school of thought is that they are easily interchangeable, not realising the impact this may have when they die. The vast majority do not understand that probate will have a significant effect on the administration of their estate. Whether you like it or not, your domicile and the probate process are closely tied together.
The UK budget and the expat
Spectrum, Andrew Wood, Published on 06/04/2014
» The recently announced UK budget has raised a number of eyebrows. Initial responses are mixed, as there are perceived tax disadvantages and pension advantages, so what do the changes really mean for expats?
Managing UK private pension transfers
Spectrum, Andrew Wood, Published on 07/07/2013
» Although the last "Networth" column was intended to be the final in the series on UK private pension transfers, there have been many questions relating to some aspects of this important part of expat pension planning.
UK private pension transfersthe final pieces of the puzzle
Spectrum, Andrew Wood, Published on 23/06/2013
» This last of three articles on United Kingdom pension transfers will analyse the pros and cons of domestic versus offshore pension choices and provide the final pieces to a complex jigsaw of transfer options available to expats today.
Good reasons to transfer your UK pension to QROPS
Spectrum, Andrew Wood, Published on 09/06/2013
» Despite the dull name, Qualified Recognised Overseas Pension Schemes (QROPS) are a hot topic. For any expat who once worked in the UK and has a frozen or deferred pension, there are persuasive reasons to export it, especially if it is a defined-contribution scheme in which an investment pot belongs to you. Defined-benefit schemes, where a calculated pension will be paid, are often difficult to evaluate and many expats make the mistake of not scrutinising them properly.
Offshore private pension transfers: growing clarity for QROPS
Spectrum, Andrew Wood, Published on 26/05/2013
» If you have ever worked in the UK, no matter what your nationality, you probably were enrolled in a private pension scheme to which your employer and maybe you made contributions. The UK government continues to tweak legislative changes affecting the expat's ability to move this pension offshore. On the surface, these changes appear to limit transfer options, but in reality they have strengthened the legal framework, offering expats continuing advantages.
How long will your pension last when you retire?
Spectrum, Andrew Wood, Published on 10/03/2013
» We tend to assume that current realities will remain unchanged, yet the only constant is change. Are you comfortable today with what you have, based on current cost of living, exchange rates, inflation and investments? Will your pension last in retirement?
Expats need to keep an eye on UK pension transition
Spectrum, Andrew Wood, Published on 24/02/2013
» The proposed new UK state pension overhaul will introduce a flat-rate pension for everyone. How will that work in practice for British expats who are now living in Thailand and elsewhere? Some will be adversely affected while others will experience a pleasant surprise.
You say you've got a resolution? We'd all love to see the plan
Spectrum, Andrew Wood, Published on 06/01/2013
» Did I just hear a "pop"? Did your bubble just burst? have you already reverted to old habits? New Year resolutions are often sources of fun among family, friends and colleagues. Seeing who can make a resolution last the longest can be positive, friendly competition.