UK Expat Pension Reviews Continues To Help UK Pension Holders With Transferring Their UK Pensions Overseas. More than ever UK pensions are moving overseas

KUALA LUMPUR, KUALA LUMPUR , MALAYSIA, March 16, 2023 /EINPresswire.com/ -- Most UK pension holders have thought about transferring their UK pensions and simplifying their retirement savings? For many, having money in one place reduces stress and clarifies how much they have and where it is. UK Expat Pension Reviews can help clients with their expat pension transfer with transferring their pension to a Self Invested Personal Pension.

There are around 247,000 British citizens aged 65 and over living in other EU countries, In 2022, 90,000 British citizens moved abroad to work. In 2022, around 560,000 people left the UK to live abroad long-term.

Using the above figures its not hard to see that UK expats and people that have left the UK permanently to retire are in even more need of correct pension advice with regards to their UK pensions. This is where UK Expat Pension Reviews are on hand to provide the best advice.

Proving the best advice to expats and retirees is our full time job and below are some tips for

When to Transfer a Defined Contribution Pension

One key issue is what a pension actually offers in terms of benefits. Many older schemes may restrict the way pension benefits can be taken, or the options if they die. Restrictions on retirement benefits can be dealt with at retirement, and that may be the best time to transfer, but restrictions on death benefits aren’t something that can be rectified at the time, so it makes sense to check clients scheme offers the options they would choose in that event.

Some UK based pension providers may only select a few overseas based funds within their funding panel. If pension clients use an overseas based SIPP specially designed for expats working outside the United Kingdom they will generally offer a global universe of funds.
Transferring their pension may also enable them to reduce the fees they are paying for in admin charges to the scheme and their holdings. Older schemes in particular can be relatively expensive. Make sure clients get a balanced view of all the charges involved, both for the existing scheme and for the proposed transfer scheme. In particular, keep an eye open for any punitive exit fees attached to older schemes.
There are also the administrative benefits of consolidation. By bringing all of a clients old pensions together into a single portfolio, they can see exactly how much they have invested, how it’s performing and what they are paying in fees. Often people use a self-invested personal pension (SIPP) for this purpose, as it gives them full control over their retirement savings.

When to Transfer a Defined Benefit Pension

With pensions for expats the reasons for transferring defined benefit (DB) pensions – often known as final salary pensions – are different. Transfers of DB pensions became big news after 2015, the year when pension freedoms were introduced. Many savers have been attracted by the huge transfer values (the amount they receive for transferring out of the scheme) on offer for their modest DB pensions. Another appeal is the relative flexibility of the rules of investment-based DC pensions into which their money is being transferred.

But a transfer may be worth considering in certain circumstances –

About Us

UK Expat Pension Reviews was founded after realizing that expats and non UK residents were unsure of how they should use their old pensions they left back in the UK. They found that some had transferred them already and there are still others that are looking to transfer them. They want to give UK pension holders the option of reviewing their existing investments contained within these UK pension plans to get the best performance with lowest costs before their retirement. The service that is offered give to pension clients is at the core of what they do. Their pension consultants take the time to explain the best options in plain English, without the typical pensions jargon.

What Do UK Expat Pension Reviews Offer

Our review process helps clients to stay active about their pension retirement fund to help them grow, ready for their retirement. Not only can they review UK pensions but can also help with QROP’s, SIPP’s, regular contribution savings plans and also lump sum investment bonds wrapped in insurance wrappers.

UK Expat Pension Reviews schedule a first online pension review with client’s whereby they demonstrate the current investments performance. They then demonstrate how the portfolio would have performed with an existing fund or pre-selected chosen performing portfolio over the previous 12 months.

How They Can Help Client’s!

Keep track of clients investments online via

• A monthly valuation by email so clients can see their investment performance.
• Use our smartphone app to see how their portfolio is performing at any time.
• Regular portfolio reviews every 6 to 12 months with a dedicated account manager.
• Access to an account manager 5 days a week.

Pension Consultants can help clients to choose a ready-made portfolio from 2 of London’s biggest asset managers. There are a range of growth and income portfolios ranging from conservative, balanced or adventurous to choose from.

• ✓ Low-cost funds and ETF’s with value investment approach
• ✓ Active asset allocation
• ✓ Global multi-asset funds
• ✓ Managed by the world's largest money managers
• ✓ Ideal for hands off investing approach
• ✓ Easy to re-balance portfolios any time to suit market conditions

With the reduction in wealth managers in the last 5 years in Asia there has been a vast reduction in clients having face to face or phone contact with their investment managers. Same also for investment managers with the limited amount of time they have means less time to service their clients and the clients suffering financially because of less time for reviews and updates.

UK Pension’s – Self Invested Personal Pension’s (SIPP’s) Qualified Recognized Overseas Pension’s (QROP’s) – Portfolio Bonds – Regular Savings Plans
www.ukexpatpensionreviews.com

Gerard Ward
UK Expat Pension Reviews
01126840540
email us here
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