UK pensions
 

Hi All,

Now that you reside abroad, there are options for you to get in control of any pensions you may have from your time working in the UK.

- Currently, over 80% of companies who offered a defined benefit pension scheme have a pension deficit. 1 in 10 of those companies, have a pension deficit larger than their market cap.
- According to studies, in order to live comfortably in retirement, you would need a pension pot of £325,000. The current average pension pot is less than £90,000!

Since 2006, UK pension holders have the ability to transfer their assets into a qualifying international structure which allows for maximised growth and minimises any tax implications.

On top of this, just because you aren't residing in the UK anymore, doesn't mean you have to forego your state pension.

Thanks for your time,
Chris.

re: UK pensions
 

I'd argue that the pot target needs to be nearer 1m... 300k will give you a 10k/ year pension.

Re: UK pensions
 

Hi, welcome to BE.

You are very welcome to post on the forum and to offer advice to our members, as you’ve been told already, but please no touting for business or mention of your services, as per site rule 9.

Thx.

Re: UK pensions
 

Sorry about that. Honest Mistake

Re: UK pensions
 

Completely agree Millhouse, the higher the pot the better. That estimate is based on the average life expectancy in the UK of 81 and defined benefit pensions not being accessible till the age of 65 which increases it to about 20k per year, which I'd personally still argue is quite low. We could also bring the state pension into it too which as you may well know also isn't accessible until the age of 65-68 depending on your date of birth.