Pensions – Planning for a Happy Retirement
Forward planning for your retirement can mean the difference between having the reassurance of financial security in later years rather than the worry of wondering how you will cope. A comfortable lifestyle in retirement is something to which we all aspire and increasing longevity means that we all need to make extra provision for that retirement, regularly review that provision and make sure that any plans we put in place are flexible enough to deal with any changes in our personal circumstances.
Those living away from their home countries may not be able to rely on the state for financial support in retirement. Your own personal planning is therefore vital.
The Spectrum IFA Group has experienced and qualified advisers who can help guide you through that planning process. Discussing with you issues such as inflation, currency exchange rates and the importance of regular reviews so that your pension value is protected as you get closer to retirement age. Your Spectrum adviser can also help you to maximise the income from that pension fund when you do decide to retire. He or she will collate the information on any retirement plans already in existence and monitor the progress of all retirement planning so that your financial goals can be achieved, resulting in a happy, financially secure retirement.
In the correct circumstances, it may be better for you to move existing pensions under something known as the QROPS provisions (Qualifying Recognised Overseas Pension Schemes). Today’s workforce is more mobile and we find that many of our clients have worked in more than one country and have gained pension rights in those countries resulting in plans with different currencies. Your Spectrum adviser will assess whether a QROPS transfer is right for you by producing a personalised report to help you make your decision. Key to that decision will be your own personal circumstances, the type of pensions you already have and where you intend to take the benefits of those pensions in the future. For more information click on QROPS
We will also help you understand the implications of a move from one country to another, how to plan for such changes and how, despite these moves, you can still retain a coherent strategy to your planning.