If you are living in the EU but have worked in the UK and contributed to a UK pension scheme, you maybe wondering what your options are.
Our qualified UK pensions team at SuisseRock specialise in helping expats and foreign nationals review their UK pension assets. Thanks to our client recommendations we have grown from strength to strength since SuisseRock was born in 2015, helping clients across the EU and Switzerland understand their options.
Our team have over 10 years of experience and have overseen the transfer of £100m in pension assets.
Whether you are on a short term work contract, have repatriated or are planning to retire in the EU it is important for you to explore your options.
Why review your UK pension?
For many of us, our pension funds make up a significant percentage of our overall wealth. For most individuals their UK pension is only second in value to their primary residence, so ensure you know how your capital is invested and more importantly how much income it will generate for you when you retire.
In most cases you can significantly enhance your pension benefits by increasing your future income, reducing future tax liabilities and consolidating multiple pensions into one manageable scheme.
What you will find out about your UK pension?
Whether or not you have a Final Salary or Money Purchase scheme, we are able to contact your providers and request very detailed information from them. We will establish the following;
- How your capital is invested
- At what age can you access your pension
- What your projected benefits at retirement are
- Will your spouse receive all or half of your benefits upon your death
- Is your pension frozen and not growing
- What the charges are associated to your scheme
- How much tax you will pay when you draw upon your pension
Potential benefits of transferring your UK pension
If you are a non UK resident and plan to either never return to the UK or remain offshore for a few years, there can be many benefits of reviewing and transferring your UK pension. These include the following;
- Choice of relevant currency such as EUR, CHF or USD
- Consolidation of multiple pension schemes in to one manageable policy
- Enhanced growth
- Take advantage of your Final Salary (Defined Benefit) transfer value
- Take control of your investment and manage your portfolio yourself
- Invest into investments that offer security and stable returns
- Reduce your tax liabilities and maximise your income post retirement
- Take advantage of regular reviews and ensure you are on track to achieve your future retirement goals
Also once you are aware of your pension benefits you can then start to put plans in place for your retirement. In most cases we have found there is usually a shortfall between someone’s current income and their projected income in retirement. So we have a number of solutions that allow you to bridge the gap between the two.
You can review your UK pension in 3 simple steps
STEP ONE – Speak with one of our qualified UK pension advisors
STEP TWO – We will review all of your UK pension assets and discuss your future goals and objectives in order to understand what retirement looks like for you.
STEP THREE – We will provide you with our FREE comprehensive report outlining where you are now and what your options are. From here you can make informed decisions about how to improve your future income.
Speak with one of our team
Simply complete the form below and one of our trained team will contact you and talk you through the process.
Further support can be found at the UK Governments support web-site https://www.pensionwise.gov.uk/
