If you’ve worked in the UK at some point, the chances are you paid into some form of pension. It might only be a small amount but it’s always worth having a look, and you never know your UK pension review might uncover a nice surprise.
Many of our clients have old, frozen UK pensions which they intend to review but simply never get around to doing so. Often information is lost, or the thought of spending 30 minutes listening to automated telephone switchboards is enough to end a search before it ever began.
How Important Is Your Pension To You?
It is often said that retirement can be either the longest holiday of your life, or the longest period of unemployment. Your pension will most likely play a big part in which path you follow. Failing to make the most of your investments now can have a massive effect on whether you achieve your retirement goals.
A vast amount of UK pension transfers end up in Malta due to the numerous benefits for British expats retiring to Europe or any of the 65 countries which have a Double Taxation Agreement with Malta.
All firms charge fees, but these can differ greatly from company to company. Typical fees charged include upfront fees on the funds and underlying investments. Many funds also have very high annual management charges, occasionally upwards of 3%. Do you understand the charges? Are there hidden fees on your plan?
Right For You?
That all depends on the answers you give to the following questions during your UK pension review… And more. What existing plans have you have in place, your current country of residence and where you may move to before and through retirement, total value of your pension plans, your tax position and the tax status of the country you reside in and plan to retire in, your priorities, your attitude to risk, do you need a lump sum to pay off a mortgage or even buy that yacht? Your overall financial planning and wealth. Pension planning isn’t the be-all and end-all, but plays an important part of your financial portfolio.
Specialist International Pension Support
No matter how big or how small your UK pension, Skybound is here to help you get your finances in order. From tracking down your pension and speaking to your Administrators on your behalf, Our specialist pension support division can conduct your UK pension review and help you negotiate the minefield of small print and help you to understand just exactly how your pension is performing.