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UK Pension Advice for Expats

UK-REGULATED ADVICE FOR BRITISH EXPATS WITH UK PENSIONS

We provide UK-regulated, independent advice on UK pensions. We operate the same transparent fee-based model as all good UK-based financial advisors. If you’re living abroad then we can give you the same standard of advice and service you would expect in the UK.

Unfortunately, we are in an industry where the majority of non-UK based advisors who work with British expats do not treat them in the same way. The majority have no UK regulation and charge hefty commissions which leads to clients being shoehorned into unsuitable solutions and poor ongoing service.

Our setup is explained on our about us page with background into our advisory and award-winning network.

BETTER OPTIONS FOR YOUR PENSIONS

The UK pension landscape has changed dramatically in recent years. Laws have been introduced that allow you more freedom and control over your retirement.

Generous transfer values are on offer from final salary schemes and defined contribution schemes can be fully accessed earlier. There are also greater freedoms to consolidate multiple schemes and transfer to either a UK-based SIPP or a non-UK QROPS.

Furthermore, the way pensions are taxed on death compared to other assets might encourage you to view your pension as something to benefit future generations rather than fund your retirement.

We have years of experience dealing with UK and overseas schemes and can help you find the best solution according to your needs.

DEFINED BENEFIT TRANSFERS

Final salary pensions (otherwise known as defined benefits) were once seen as ‘gold-plated’ and the surest way to guarantee yourself a consistent income in retirement.

In recent years thousands of people have decided to transfer their pensions for a generous transfer value and have more control over their own pension.

SIPP

A self-invested personal pension is a great way to achieve a pension and investment that you can control. SIPPs are increasingly popular amongst people who want to consolidate several schemes and improve the overall management of the portfolio.

International SIPPs exist for people who live abroad but want to keep their pension in the UK and regulated by the FCA.

QROPS

Qualified Recognised Overseas Pension Schemes are beneficial for people who want to transfer their pension away from the UK. There are many reasons why this could be the best option for a pension.

The benefits are similar to that of a SIPP but removing it from the UK has the potential to mitigate taxes (subject to where you are resident) and ensure that growth above the lifetime allowance is not subject to additional tax.

UK PENSIONS AND DEFINED BENEFIT TRANSFERS

NEWS AND RESOURCES

WHY CORONAVIRUS COULD BE GOOD FOR YOUR PENSION

One thing I’m telling all my clients at the moment is to read beyond the headlines to fully understand the economic impact of the reaction to Coronavirus. I hope that if you’ve made it this far beyond headline of this article that you’ll read on to find out what I...

The ‘Greta Thunberg Effect’ and The Rise of ESG Investing

By Adam Smith As you have probably heard Greta Thunberg had quite a 2019 which resulted in her being named the 2019 Time person of the year. The level of attention she has brought to the climate crisis is quite astonishing especially considering she was 16 years old...

What Happens to my QROPS if I Move Back to the UK?

If you have left the UK and been advised to transfer your pension to a Qualifying Recognised Overseas Pension Scheme (QROPS) but now intend to return to the UK then you need to consider how this pension will now be treated. While many expats and professionals who have...

QROPS ADVICE FOR EXPATS

WHY CORONAVIRUS COULD BE GOOD FOR YOUR PENSION

One thing I’m telling all my clients at the moment is to read beyond the headlines to fully understand the economic impact of the reaction to Coronavirus. I hope that if you’ve made it this far beyond headline of this article that you’ll read on to find out what I...

What Happens to my QROPS if I Move Back to the UK?

If you have left the UK and been advised to transfer your pension to a Qualifying Recognised Overseas Pension Scheme (QROPS) but now intend to return to the UK then you need to consider how this pension will now be treated. While many expats and professionals who have...

QROPS MYTH #9 – Brexit will affect your pension

Let’s look at this realistically. If you’re an expat in Spain, for example, and the UK leaves the EU do you really think that your UK-based pension provider will be unable to make a payment to you now that the two countries are not joined by the EU? Is this not...

QROPS MYTH #7 – Structured notes are suitable investments

A consequence of transferring your pension away from the UK opens you to the risk that your funds will be placed into investments that would not be allowed if it was still under the watch of the UK’s Financial Conduct Authority. There have been many cases of clients...

QROPS MYTH #6 – You need to keep a large proportion in cash

Any investment portfolio should always contain a small proportion of cash but by small we mean around 2-3%. If your pension has a cash account of somewhere around 10% then you might want to question whether this money really exists. Consider it this way, pensions are...

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...

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...

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...

QROPS MYTH #1 – Your pension is at risk if you leave it in the UK

What risks? Brexit? Tax? Schemes going bust? What risks have you been told about? The only risk is believing someone who is giving you advice that is biased in their favour. If someone is going to profit from helping you to transfer your pension overseas then you need...

Get in touch for a FREE consultation

We firmly believe that your location in the world should not be a barrier to receiving fair, independent and transparent financial advice that you can trust.

We work with clients across the globe and can offer you a FREE initial consultation wherever you are.

It all starts by getting in touch!

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