Uk Pensions
Jun 17th 2011, 3:42 pm
#1
Just Joined
Thread Starter
Joined: Jun 2011
Posts: 17
Uk Pensions
Hi, I am new to the forums here but I have a vested interest somewhat in Spain and I am curious about some things also. So please indulge me.
Let me give you a bit of background about me first:
I have worked for YBS (Branch Manager) and moved over to Abbey/Santander (Branch Manager and Financial Adviser) since I left uni with a law degree - which I know makes finance the obvious choice. I now work for an international IFA (a good one, and reputable which I am sure most expats will know is rare).
My brother moved to Spain a few years ago with his wife and 2 gorgeous little girls to be closer to his wife's mother and step father who retired near Barcelona. So I regularly visit them when I can but, since I moved to Moscow (don't even ask!
) visits are more difficult. Since he has no intention of ever returning to the UK to live and runs his company from home, he has a long term future set out for him and his children are mutilingual and enjoy the lifestyle.
Now that is a brief outlay of me and my connection to Spain, because of what I do, and what I have read so far in the forums - I am curious:
Since the financial issues in Spain and all the negativity that seems to be flowing regarding pensions, I am curious as to:
1. How many of you actually undertook a private pension against just relying on the UK government?
2. How many of you still residing in Spain still use the UK pension schemes instead of transferring them into something else more beneficial and suited to European life?
To me, it seems very strange that so many people will sell up a property and all to move to Spain but, retain such a vital tie to a country you want nothing more to do with other than family.
I appreciate your time on this and any replies you may have.
Rory
Let me give you a bit of background about me first:
I have worked for YBS (Branch Manager) and moved over to Abbey/Santander (Branch Manager and Financial Adviser) since I left uni with a law degree - which I know makes finance the obvious choice. I now work for an international IFA (a good one, and reputable which I am sure most expats will know is rare).
My brother moved to Spain a few years ago with his wife and 2 gorgeous little girls to be closer to his wife's mother and step father who retired near Barcelona. So I regularly visit them when I can but, since I moved to Moscow (don't even ask!
) visits are more difficult. Since he has no intention of ever returning to the UK to live and runs his company from home, he has a long term future set out for him and his children are mutilingual and enjoy the lifestyle.Now that is a brief outlay of me and my connection to Spain, because of what I do, and what I have read so far in the forums - I am curious:
Since the financial issues in Spain and all the negativity that seems to be flowing regarding pensions, I am curious as to:
1. How many of you actually undertook a private pension against just relying on the UK government?
2. How many of you still residing in Spain still use the UK pension schemes instead of transferring them into something else more beneficial and suited to European life?
To me, it seems very strange that so many people will sell up a property and all to move to Spain but, retain such a vital tie to a country you want nothing more to do with other than family.
I appreciate your time on this and any replies you may have.
Rory
Jun 17th 2011, 3:51 pm
#2
BE Forum Addict
Joined: Dec 2009
Location: Aracena area Huelva Spain
Posts: 1,631
Re: Uk Pensions
Hi, I am new to the forums here but I have a vested interest somewhat in Spain and I am curious about some things also. So please indulge me.
Let me give you a bit of background about me first:
I have worked for YBS (Branch Manager) and moved over to Abbey/Santander (Branch Manager and Financial Adviser) since I left uni with a law degree - which I know makes finance the obvious choice. I now work for an international IFA (a good one, and reputable which I am sure most expats will know is rare).
My brother moved to Spain a few years ago with his wife and 2 gorgeous little girls to be closer to his wife's mother and step father who retired near Barcelona. So I regularly visit them when I can but, since I moved to Moscow (don't even ask!) visits are more difficult. Since he has no intention of ever returning to the UK to live and runs his company from home, he has a long term future set out for him and his children are mutilingual and enjoy the lifestyle.
Now that is a brief outlay of me and my connection to Spain, because of what I do, and what I have read so far in the forums - I am curious:
Since the financial issues in Spain and all the negativity that seems to be flowing regarding pensions, I am curious as to:
1. How many of you actually undertook a private pension against just relying on the UK government?
2. How many of you still residing in Spain still use the UK pension schemes instead of transferring them into something else more beneficial and suited to European life?
To me, it seems very strange that so many people will sell up a property and all to move to Spain but, retain such a vital tie to a country you want nothing more to do with other than family.
I appreciate your time on this and any replies you may have.
Rory
Let me give you a bit of background about me first:
I have worked for YBS (Branch Manager) and moved over to Abbey/Santander (Branch Manager and Financial Adviser) since I left uni with a law degree - which I know makes finance the obvious choice. I now work for an international IFA (a good one, and reputable which I am sure most expats will know is rare).
My brother moved to Spain a few years ago with his wife and 2 gorgeous little girls to be closer to his wife's mother and step father who retired near Barcelona. So I regularly visit them when I can but, since I moved to Moscow (don't even ask!
) visits are more difficult. Since he has no intention of ever returning to the UK to live and runs his company from home, he has a long term future set out for him and his children are mutilingual and enjoy the lifestyle.Now that is a brief outlay of me and my connection to Spain, because of what I do, and what I have read so far in the forums - I am curious:
Since the financial issues in Spain and all the negativity that seems to be flowing regarding pensions, I am curious as to:
1. How many of you actually undertook a private pension against just relying on the UK government?
2. How many of you still residing in Spain still use the UK pension schemes instead of transferring them into something else more beneficial and suited to European life?
To me, it seems very strange that so many people will sell up a property and all to move to Spain but, retain such a vital tie to a country you want nothing more to do with other than family.
I appreciate your time on this and any replies you may have.
Rory
Jun 17th 2011, 4:00 pm
#3
RETIRED ;-))
Joined: Jul 2003
Location: Benalmadena Pueblo,Spain
Posts: 20,156
Jun 17th 2011, 4:06 pm
#4
Banned
Joined: Dec 2006
Location: Living in a good place
Posts: 8,824
Re: Uk Pensions
It's a warm-up to spam.
Jun 17th 2011, 4:19 pm
#5
RETIRED ;-))
Joined: Jul 2003
Location: Benalmadena Pueblo,Spain
Posts: 20,156
Jun 17th 2011, 4:21 pm
#6
¿Dónde estoy?
Joined: Jun 2004
Location: my paradise - Jávea
Posts: 13,330
Re: Uk Pensions
and eggs.................
Jun 19th 2011, 1:37 pm
#7
BE Co-Founder
Joined: Feb 2000
Location: Florida
Posts: 25,928
Re: Uk Pensions
I've have contacted OP and he has confirmed that he isn't trying to advertise/spam etc, nor is his post a precursor for advertising anything. He is genuinely trying to figure out if he can run his business from Spain.
Jun 19th 2011, 1:43 pm
#8
Just Joined
Thread Starter
Joined: Jun 2011
Posts: 17
Re: Uk Pensions
thank you Sue.
ps. Hello everyone.
ps. Hello everyone.
Jun 19th 2011, 3:28 pm
#9
Joined: Jun 2006
Location: Granada Costa
Posts: 10,902
Re: Uk Pensions
Hi Rory.
To answer your questions.
1. How many of you actually undertook a private pension against just relying on the UK government?
I worked for a company that had a company final salary scheme and I also contributed AVCs. When I left I took a pension pot with me which I contributed into until I retired. I took the pension at 50 so the State pension was not a consideration (until recently).
2. How many of you still residing in Spain still use the UK pension schemes instead of transferring them into something else more beneficial and suited to European life?
That was not an issue as I took the full benefits before I left the UK.
To answer your questions.
1. How many of you actually undertook a private pension against just relying on the UK government?
I worked for a company that had a company final salary scheme and I also contributed AVCs. When I left I took a pension pot with me which I contributed into until I retired. I took the pension at 50 so the State pension was not a consideration (until recently).
2. How many of you still residing in Spain still use the UK pension schemes instead of transferring them into something else more beneficial and suited to European life?
That was not an issue as I took the full benefits before I left the UK.
Jun 19th 2011, 3:39 pm
#10
Lost in BE Cyberspace
Joined: Jan 2009
Posts: 5,368
Re: Uk Pensions
Hi Rory.
To answer your questions.
1. How many of you actually undertook a private pension against just relying on the UK government?
I worked for a company that had a company final salary scheme and I also contributed AVCs. When I left I took a pension pot with me which I contributed into until I retired. I took the pension at 50 so the State pension was not a consideration (until recently).
2. How many of you still residing in Spain still use the UK pension schemes instead of transferring them into something else more beneficial and suited to European life?
That was not an issue as I took the full benefits before I left the UK.
To answer your questions.
1. How many of you actually undertook a private pension against just relying on the UK government?
I worked for a company that had a company final salary scheme and I also contributed AVCs. When I left I took a pension pot with me which I contributed into until I retired. I took the pension at 50 so the State pension was not a consideration (until recently).
2. How many of you still residing in Spain still use the UK pension schemes instead of transferring them into something else more beneficial and suited to European life?
That was not an issue as I took the full benefits before I left the UK.
Jun 19th 2011, 5:26 pm
#12
Banned
Joined: Dec 2006
Location: Living in a good place
Posts: 8,824
Re: Uk Pensions
If he is trying to work out if he can sell pensions in Spain the market is flooded with pension and financial advisors.
Jun 19th 2011, 5:59 pm
#13
BE Forum Addict
Joined: Aug 2005
Location: Beckenham, London borough Bromley
Posts: 1,617
Re: Uk Pensions
Hi
I retired to Spain aged 56; at that time I wouldn´t have touch ANY financial advisor with a barge pole - The English Financial system gives too many safeguards. However I was advised by Blevins Franks about certain aspects; indeed I do not own my house, my children do. Therefore with luck, I will die a pauper!
My private (Local Government) pensions have now cut in with the associated AVC´s (loads) and I will collect the Government OAP in September
Hope this helps, feel fre to pm me
Dave
I retired to Spain aged 56; at that time I wouldn´t have touch ANY financial advisor with a barge pole - The English Financial system gives too many safeguards. However I was advised by Blevins Franks about certain aspects; indeed I do not own my house, my children do. Therefore with luck, I will die a pauper!
My private (Local Government) pensions have now cut in with the associated AVC´s (loads) and I will collect the Government OAP in September
Hope this helps, feel fre to pm me
Dave
Jun 19th 2011, 6:34 pm
#14
Just Joined
Thread Starter
Joined: Jun 2011
Posts: 17
Re: Uk Pensions
Ok - well my instant reaction to everyone complaining was that noone had actually done anything! I stand corrected.... in the corner of the room.
I totally agree with the comment about UK Regs. One of the myriad reasons I left in the first place. But, on the flip side - there is little to no Regulation in most of the world. It is a shameful fact that puts my heckles up here.
I stand corrected.... in the corner of the room.I totally agree with the comment about UK Regs. One of the myriad reasons I left in the first place. But, on the flip side - there is little to no Regulation in most of the world. It is a shameful fact that puts my heckles up here.
Jun 19th 2011, 6:35 pm
#15
Just Joined
Thread Starter
Joined: Jun 2011
Posts: 17
Re: Uk Pensions
and thank you for the serious honest replies. I hope that your pension schemes keep you in vino and olives for as long as you need them.