QROPS Myth #5: QROPS are ‘approved by HMRC’
HMRC do not approve anything! It is not their function. Their purpose, as stated on the website https://www.gov.uk/government/organisations/hm-revenue-customs is: “We are the UK’s tax, payments and customs authority, and we have a vital purpose: we collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. We […]
QROPS Myth #4: You’ll be able to access your pension sooner if you transfer it
This is not such a common myth nowadays but in the early days of QROPS there were many advisors going around the world ‘pension busting’ and either helping people to access their pension sooner by either transferring to a jurisdiction that allowed access from a younger age or by allowing the client to take out […]
QROPS Myth #3: Your UK scheme is going to go bust
It’s true that there have been many high profile defined benefit pensions that have gone bust in recent years. The fundamental principle of the way that defined benefit pensions are structured can indeed sound like a risk. A defined benefit pension will promise to pay you a salary in your retirement as a fraction of […]
QROPS Myth #2: You need an insurance bond
When it comes to QROPS there are a few ways of administering the investments – although most people are only ever presented with one option. As the QROPS trustees are not set up to provide this service (they merely provide the legal structure and fulfil normal trustee duties) you will need some kind of investment […]
QROPS Myths: Busting Myths about QROPS for British Expats
QROPS: Busting the Myths British Expats Need to Know If you’re a British expat considering transferring your UK pension overseas through a Qualifying Recognised Overseas Pension Scheme (QROPS), you’ve likely encountered a lot of misinformation. Let’s address some of the most common myths to help you make informed decisions about your retirement savings. Myth 1: […]
Key Questions for Expats When Choosing a Financial Advisor
Key Questions for Expats When Choosing a Financial Advisor Choosing the right financial advisor is crucial for expats living overseas. Here are essential questions to ask to ensure you receive the best financial advice tailored to your needs. 1. Are You Independent or Tied? Understanding whether your financial advisor is independent or tied to a […]
Health Insurance for Expats in Italy
Health Insurance in Italy: A Guide for Expats When moving to Italy, one of the most common concerns among expats is health insurance. Whether you’re planning to gain residence status or want to ensure you receive quality care in case of illness or surgery, understanding your health insurance options in Italy is crucial. Basic Health […]
Teaching Kids About Money: Essential Tips for Expats
Teaching Kids About Money: Essential Tips for Expats Financial literacy isn’t often taught in schools, but as parents, we have the opportunity to shape our children’s understanding of money. Here are some crucial tips for expat families looking to instill good financial habits: 1. Start the Conversation Early Money shouldn’t be a taboo topic. Engage […]
Addressing the Financial Challenges faced by UN employees
If you work for the United Nations in Rome or elsewhere in the world you’ll be familiar with the financial challenges of understanding tax, saving and investing for retirement and the implications of being internationally mobile.
The Importance of Life Insurance for Expats
Table of Contents Why Life Insurance and Income Protection Should Be Top Priorities for Expats When it comes to financial planning, many people follow a traditional sequence of priorities: first, clear debt; second, maintain adequate cash reserves; and then, focus on long-term savings and investments. However, if you’re living and working abroad as an expat, […]