“Is it wise to keep your pension in the UK?”

-




Pension planning has always been an important part of financial planning and never more so than now. The pension industry’s legislation is forever changing and everyone should review their options.

On top of this, we find ourselves in a transitional period where the UK are in negotiations with the EU, hoping to obtain the best BREXIT deal possible. This, as one would expect, raises lots of uncertainty and concerns about how UK pensions will be affected by BREXIT and equally, what impact this has on individuals who live overseas.

At Logic, we have seen an increasing number of clients living abroad opt to transfer their pension to an overseas, tax beneficial, jurisdiction. This has given them peace of mind that their pension will no longer be subject to unknown changes caused by BREXIT.

Most people will depend on a pension to provide them with their income in retirement. Their pension may come from the State, from a company sponsored pension scheme or from a private pension arrangement.


Governments around the world are increasing retirement ages and reducing the benefits that the state provides, so we all need to have the means to support ourselves. Furthermore, with our life expectancy increasing through breakthroughs in medication and education, our pension funds need to last longer than ever before.

It is not uncommon for people to lose track of their pensions over time, or even forget about them all together. If you want to maintain a certain level of lifestyle in retirement or have the option of retiring when you want to, it is vital you have a plan in place.

At Logic, we are able to carry out pension audits and reviews of existing schemes, whether your pension be based in the UK or overseas. We will explain what your options are in plain English, without the jargon, so that you can make informed decisions on how best to achieve your goals.

Comments

Post a Comment

Popular posts from this blog

Coronavirus Pandemic and Your Investments. To Sell or Not to Sell?

-
Image
This is just a quick note to update you on the recent market volatility caused by the dreaded Coronavirus, and to also provide an overview of the situation which will hopefully bring some peace of mind. It is quite understandable to feel a certain level of fear or anxiousness in such volatile and uncertain market times, especially when you see significant falls in investments or fund values. Below we have provided an overview of what has happened with markets on the back of the Coronavirus outbreak and will explain the rationale as to why in times like this it is often better to remain invested (despite this sounding entirely illogical). Overview When the outbreak of the Coronavirus in Wuhan first hit the headlines, the effect on markets was fairly tame, especially in developed countries in the west. However, over the last 3 weeks or so, new cases have emerged across Europe which have had a much more devastating impact on markets. We´ve seen a huge investor sell-off on the back
Read more

FEIFA

-
Image
We are extremely happy to announce that Logic Financial Consultants are now members of FEIFA (Federation of European Independent Financial Advisers). FEIFA are a non-profit organisation aiming to increase professional and technical standards of advice, for the ultimate benefit of consumers across Europe. Importantly, FEIFA will only allow membership to fully regulated companies after being approved via their due diligence checks. Make sure you receive advice from a fully regulated and reputable company! 
Read more

Diversification

-
Image
It's probably not news to you that - with interest rates and inflation/cost of living at their current levels - you're actually losing money by leaving it sitting in a UK or Spanish bank account. To get it working for you the obvious answer is investments. That next step though can strike fear and apprehension into many people, especially those that are less adventurous or unfamiliar with the markets. At Logic, whenever we're talking to new clients we make sure we fully understand their attitude to risk...something that is sadly sometimes overlooked by many firms. Whatever your approach to investing, one of the most basic and effective risk management techniques is diversification... and it doesn’t have to be complicated. The key is to build a diverse portfolio with a mix of different investments that makes sense for your age and attitude to risk, and to protect yourself in the case of a market crash. A balanced investment portfolio will contain a mix of: Equiti
Read more