E29. You have a right to the best expatriate retirement planning advice - don’t you?

Fiduciary Wealth Team

You have worked hard and accumulated your retirement savings in a private pension scheme which will be your main source of income during your new life overseas as an expatriate. Does this sound familiar?

Then just when you thought all the decisions you had to make regarding your retirement planning were behind you, you are suddenly bombarded with QROPS & QNUPS and SIPPS and a new set of issues to consider. There is no need to panic however, help is at hand.

The first thing you need to do is speak to another adviser who understands what you already have as well as the choices available to you. An adviser like Fiduciary Wealth specialises in cross border retirement planning and understands both the pension legislation in the UK and the different plans that you might have; they even have an office in central London close to Oxford Street where you can meet with one of their advisers prior to embarking on your expatriate journey. You also need to know that your adviser is familiar with the tax rules in Spain and can explain how these relate to the various pension products available. This is why many UK advisers will recommend you speak to a cross border specialist like Fiduciary Wealth to ensure you are getting best advice from an expert.

Don’t think there is one solution that fits all, the right choice for you will depend on what type of pension you already have and your financial objectives. Do you intend to spend the rest of your life in Spain, abroad in another country or are you intent on returning to the UK at some time in the future? How big is your pension fund and what level of income are you expecting your pension to provide? Do you have dependents and are they reliant on your pension income? Where do your dependents live and how old are they? What are your estate planning objectives?

Do not think that QROPS is your only option. For many the advantages of an extremely tax efficient income stream together with the ability to pass on the remainder of your fund to your beneficiaries without any tax liability is a compelling advantage and one that will benefit many British expatriates. However make sure that your adviser looks at all the options available to you and explains the advantages and disadvantages of these options.

Your future financial wealth depends on making the right decision when it comes to your expatriate retirement plans. Shouldn’t you be speaking to cross border experts like Fiduciary Wealth who can guide you and help you make the right decision? Once you have sorted your pension out you can get on with enjoying your retirement knowing that your pension plans are in safe hands.

To speak to one of our retirement specialists now telephone Fiduciary Wealth on Tel: 956 796 911 or email