Pension deficit widens as BoE cuts interest rates and begins new £60bn QE programme
The Bank of England’s decision to slash interest rates and increase the UK stimulus package to £435bn may have adverse effects to pensioners.
Why is everyone cashing in their pension?
Pension freedoms was announced last year 6th April by George Osbourne, which gave people more flexibility to take pension pots as they wish. Rather than buying an annuity, pensioners were able to choose from a number of options including; taking a 25% lump sum, taking an annuity, accessing UFPLS or taking 100% of their pension pot as a lump sum.
What does Brexit mean for pensioners who live abroad?
Final salary pensions also known as defined benefit schemes have been the talking point over recent years due to over 75% of them being underfunded. This means they don’t have enough money to pay retirees their pensions.
QROPS for European Expats has just gotten even better!
A lot of you may be wondering what the tax advantages are for a QROPS if you live in Europe. The way QROPS for European residents is taxed, has just become a hell of a lot better.
QROPS sales soar as growing concern lingers over policy changes
QROPS stands for Qualifying Recognised Overseas Pension Schemes which allows Expats living overseas to transfer their UK pensions to a more favourable tax jurisdiction.