UK Pensions

Review your Final Salary Pension

Final Salary Pensions Soar To New Highs

Transfer Values For Final Salary Pensions Soar To New Highs Final Salary Pensions have been experiencing difficulty for many years due to how expensive they are to run and maintain. However, even more so recently due to the crisis we are all currently facing. With the coronavirus shutdown wreaking havoc on companies and stock markets around the world, the total deficit of the UK’s 5,422 defined-benefit schemes increased to £135.9bn at the end of March, up from £124.6bn at the…

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Lockdown adds £10bn to deficit of UK’s final salary pension funds

Lockdown adds £10bn to deficit of UK’s final salary pension funds Companies could be required to find large sums to top up pension funds after new figures showed that more than £10bn was added to the combined deficit of the UK’s final salary pension funds during March. With the coronavirus shutdown wreaking havoc on companies and stock markets around the world, the total deficit of the UK’s 5,422 defined-benefit schemes increased to £135.9bn at the end of March, up from…

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Transfer your UK pension

Avoid paying 55% tax on your UK pension

Avoid paying 55% tax on your UK pension Many expatriates living here in Switzerland or worldwide for that matter, are potentially going to be liable to pay the additional 55% tax when they draw upon their UK pension assets.  This is mainly due to the Life Time Allowance (LTA) being reduced significantly over the past years.  For example between 2010 and 2012 the LTA was £1,800.000 and now it is just £1,055.000. So what is the life time allowance? The…

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Review Your UK Pension in 3 Easy Steps

Review Your UK Pension in 3 Easy Steps With BREXIT looming and interest rates so low, there has never been a more compelling reason to review your UK Pension Assets.  SuisseRock Advisory Services have been extremely busy helping their clients review and understand their UK pension benefits. Since BREXIT we have seen valuations soar by as much as 25% due to the reduced interest rates in August last year. Do you know how your UK pension has benefited from these…

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Are QROPS dead in Switzerland?

Are QROPS dead in Switzerland? Once again another UK budget has changed the landscape for expatriates looking to protect their UK pension assets. Unfortunately QROPS are no longer an attractive proposition for expatriates looking to consolidate their UK pension assets and protect their wealth from the LTA (Life Time Allowance) Tax charge.  As of today if you decide to QROPS your UK pensions while a resident in Switzerland you will have to pay a 25% tax charge to the HMRC.…

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