International Pension Plan
In today’s world, British expats need a truly portable international pension plan to look after themselves in retirement.
Traditionally, the UK government would pay you a pension income at retirement collected automatically through your National Insurance Contributions (NIC’s) which come out of your UK pay packet. Furthermore, you would also get a company pension that both your employer and yourself contributed to whilst working. All of this happens automatically under the UK ‘nanny state’. Unfortunately, when you leave Britain, these safeguards disappear.
In the modern world, a job for life rarely exists, especially in the private sector and for many British expats, they either don’t have a company pension or it is not enough and they no longer contribute into UK NIC’s and therefore will not get a UK state pension. Worse still, even if you have contributed, if you live in a country which doesn’t have a Double Taxation Agreement with the UK to allow inflation-linked increases, your UK state pension will remain frozen from the date you leave the UK and your state pension at retirement won’t increase in line with inflation. This means your state pension could be a fraction of what you would receive if you retired in the UK.
However, help is at hand. We can help you get a UK state pension and we can help you set up an international pension plan: a truly portable, international pension plan that you can take with you when you move jobs or even if you move to different countries. You can invest in multiple currencies such as GBP, USD, EUR, CHF and Yen, for example.
First, let’s look at some retirement facts.
- Only 30% of British expats think their pension is enough to live the lifestyle they want – Lloyds TSB International
- 36 per cent of people who are divorced or separated being expected to work indefinitely – HSBC, The Future of Retirement
- 46% of Americans have less than $10,000 saved for retirement - Employment Benefit Research Institute
- 40% of baby boomers now plan to work until they die - AARP
- 36% of Americans say they don’t contribute anything at all to their savings - CNBC
- 87% of adults say they are not confident about having money for a comfortable retirement. - Lifehappens.org
- Expected retirement age is up to 67 from age 63 - Zero Hedge
- UK state pension is now worth 42% less if you retire abroad in a country with no reciprocal agreement with the UK, e.g. Thailand, Singapore, HK, Australia, New Zealand, Canada and South Africa
- The average UK household will cost a total of £1,802,999 to run over a lifetime, figures show
“The biggest retirement mistake people make is they stick their money in a bank”.
“The reality is, inflation will destroy 50% of your savings every 22 years if you let it sit there. You have to put your money to work, safely”.
“Treat your investment portfolio like you treat your property. See it as a 10 year+ investment”
The earlier you save money, the lower the amount you need to put in.
In order to receive a £22,000 per year income at retirement, this is the sort of money you need to put into a pension plan:
|Age||Amount You Need to Save Per Month|
Portable International Pension Plan for Expats
Features of Our International Pension Plan
- Fully portable. Take your pension with you when you change jobs or move to another country
- If you lose your job, you can freeze payments for a year
- Tax efficient portfolio
- Hundreds of mutual funds to choose from.
- Choose from the best investment managers in the world such as Morgan Stanley, Black Rock, JPMorgan, Jupiter and Jardine
- Multiple currencies
- Easily manage all your investments online
- Target high returns and receive loyalty bonuses
- Penalty free withdrawals available (subject to conditions)