Even if you are an Australian resident but your pension is still in the UK, your pension is taxed in the UK – but you can move your pension into a Qualifying Recognised Overseas Pension Scheme (QROPS) to save money. UK pension rules changed on April 6, 2015 putting all pensions based in the country […]
Retirement Articles
Rip-Off Small Pot Pension Advice Fees Scrapped
Rip-off advice fees for retirement savers with small pot pensions have been scrapped under a new law. The new rules mean retirement savers with pensions that have safeguarded benefits must no longer look for expensive financial advice if they want to cash-in their pots. Safeguarded benefits include benefits such as guaranteed annuity rates. Under the […]
It’s A Great Time To Cash In Your Pension For A QROPS
Beleaguered companies are offering huge financial incentives to buy retirement savers out of their final salary pensions. Expats in Australia can take the chance of doing a deal and cashing in their pensions – and here are the risks and advantages explained. What’s the offer? Some FTSE350 employers are dangling huge wads of cash in […]
How Saving Instead Of Borrowing Boosts A Pension
Retirement savers are more concerned with repaying debt or covering day to day living costs than increasing their pension contributions. Almost two-thirds say they would ease their financial stress if they had some extra cash rather than put the money into a pension. Less than a fifth facing a struggle to keep on top of […]
Will In Specie Tax Grab Affect QROPS Pensions?
The UK tax authority has slammed another nail into self-managed pensions by barring tax relief on in specie investments to schemes with 26 providers. Thousands of retirement savers are now concerned that the ban will spread to other pension providers. An in specie contribution allows retirement savers to move property or other assets into a […]