Moving abroad, and embracing a new lifestyle, can be exciting. As well as planning for a move, you’ll need to think about your finances including your pension plans.
Choosing to move abroad and begin life in a new place can be exciting. Yet the logistics of a move overseas can make it easy for certain tasks, such as personal finance and pension planning, to drop down the priority list. If you’re already living abroad and need to consider your pension and retirement saving options it can be difficult to know where to start.
Although you may be enjoying a higher salary and/or lower tax rates as an expat, in many countries a workplace pension scheme is not a statutory requirement. As a result, it will be important to ensure you have your own robust pension or retirement savings plan in place.
What you’ll learn in this guide:
- Why a pension is an important part of any financial plan
- The different types of pension schemes including QROPS and SIPP
- The significance of the UK State Pension
- How to contribute to a UK pension when living overseas
- When you can claim tax relief
- How to save for retirement without a pension
- How to manage your pension before a move overseas