UK USA Pensions & Finances- Seeking Advice.
#16
Just Joined
Joined: Aug 2022
Location: New York
Posts: 6
Re: UK USA Pensions & Finances- Seeking Advice.
Hi Geobots
The answer to continued voluntary contributions to the UK state pension really hinges on your current NI record and number of full years accrued. As you are also paying social security, theres the question of if you'll contribute enough to receive full SS. Also worth noting the different ages in which both become payable.
With regards to personal pension arrangements, having a financial adviser who understands the US/ UK tax laws (and its messy/ opinionated at best) is worth considering, the space for British expat IA's is small, but be wary of loaded charging structures through bonds holding investments, these expensive vehicles can eat away at growth potential.
The answer to continued voluntary contributions to the UK state pension really hinges on your current NI record and number of full years accrued. As you are also paying social security, theres the question of if you'll contribute enough to receive full SS. Also worth noting the different ages in which both become payable.
With regards to personal pension arrangements, having a financial adviser who understands the US/ UK tax laws (and its messy/ opinionated at best) is worth considering, the space for British expat IA's is small, but be wary of loaded charging structures through bonds holding investments, these expensive vehicles can eat away at growth potential.