Learn about the tax and residency rules and considerations for UK retirees abroad. Find out how to minimize taxes on pensions, navigate capital gains tax, plan for wealth tax, and prepare for any inheritance tax liabilities that arise. Choose a country with a low or favourable tax regime as your retirement destination whenever possible. Discover…
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Retirement can be a time to relax, but it can also be stressful, especially if you haven’t adequately prepared for it financially. So many unexpected things can happen during your golden years, all eating into your existing provisions and leaving you short. Changes in your general health and healthcare and increasing living costs, to name…
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The answer is simple: start saving for retirement as soon as you can. Ideally, you’d start saving not long after you begin earning money. That’s because the sooner you begin saving, the more money you’ll have in your retirement fund and the more time your money has to grow. If your savings are invested, each…
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If you were asked how much money you would need to keep the lifestyle that you enjoy for the next year, how would you reply? Let’s change that a little and now ask yourself if you were going to write yourself one cheque and the money that you gave yourself had to last you for…
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Many British expats seek guidance when planning a retirement strategy. They do this to avoid making costly UK pension mistakes that can seriously jeopardise their retirement fund. The planning becomes even more complicated when a British expat doesn’t intend to return to the UK, or if their earrings are exceptionally high. These different scenarios require…
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15th of September is Pension Awareness Day, and so in an attempt to increase that awareness, we turn the spotlight on a subject that we all require at some point in our lives. Soteria Trusts discusses expat retirement planning, and more specifically, looks at the 3 pillars that are considered fundamental to the implementation of…
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A Retirement Annuity Contract (RAC) is a type of defined contribution pension scheme, used as a method of saving money which will then be used to provide you with income in retirement. In return for your contribution or investment amount, you can take income in the form of regular payments from the contract or you…
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The short answer to “What is the difference between pension trusts and contract-based pensions” is that a Trust Pension is established by a settlor, and the assets within are set up in trust, whereas a Contract Pension involves an individual contract between an employee, or an individual and a pension provider. In both cases, the…
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Guernsey has one of the most modern regulatory regimes that conform to international finance and pension standards. In 2001 and 2017, Guernsey became one of the first jurisdictions in the world to regulate pension providers and rules. These and other regulatory and taxation rules make Guernsey a jurisdiction that is a safe place to keep…
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There comes the point in life when we all start to wonder about retirement. Not only do we ponder about how wonderful life will be, how many places we can visit, and things we will finally have time to do, but more importantly, we contemplate whether we will be able to afford the lifestyle we…
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