Do You Need To Shift Your Pension Overseas?
January 3rd, 2011
QROPS is a pension strategy that allows you to transfer your pension overseas without losing benefits. When I first married my husband, we decided there and then to start saving for our old age. When you are young, loads of people put off the idea of saving for retirement. We had heard that years go by so speedily and before you know it, it is time to retire. We had also been warned by our financial advisor that the UK pension does not allow a great standard of living. Our intention was to relocate to Spain and purchase a attractive villa which we could enjoy. Spain was our lifelong vacation address so we knew it well. We saw some charming villas when we were last in Spain.
As we had sorted out our state pensions, we now needed to focus on our individual pension. We looked on the net and found a business that dealt with transfering personal pensions to foreign countries. They also measured its present-day performance to make sure that the investment were working to utmost capability. It is called QROPS pension and the aim is to allow people further flexibility, ease of mind and greater choice when it comes to investing. A lot of the time pension schemes can be complex. Nonetheless, with the help of pension specialists our project of ensuring that our private pensions wouldn’t be affected by moving overseas, or even diminish in value, was in safe hands. Anyway the transfer of our pensions went smoothly. So the private and state pension got sorted and now we are flying out next week, to purchase our dream villa in Spain.