British Expats Have a Unique Advantage in Countering Post Brexit Pension Problems
The ramifications of the Brexit vote have exacerbated the already well established pension crisis affecting the UK.
For a long time the Government has been very well aware of the pension time bomb and various administrations from both sides of the political landscape have introduced various incentives and increasingly have been having to rely on legislation to ‘encourage’ people to take responsibility for themselves in later life.
Expats have the opportunity to transfer their pension out of established pension schemes that are low performing, typically underfunded and running into problems. The exacerbation stems somewhat from the the gilts and bonds that these pension funds are required to invest in. They have been both downgraded and have become particularly low yielding.
Obviously those with a choice to move their funds out and allow them to grow in the international markets in high performing multi-asset funds are at an advantage particularly when one takes into consideration a host of other benefits such as increased beneficiary rights and increased flexibility and portability especially when consideration is made as to how to take and receive the income once someone reaches 55 years old.
The time to take action is now! If you or anyone you know still has a frozen pension in the UK is absolutely the right time to get in contact.
Please have a look at the following article which elaborates on the issues that encouraged this post!