There are numerous options available when it comes to international pension planning, and your investment decisions are crucial if you’re going to reach your long term goals. Blacktower can help steer you on the right path based on your individual circumstances.
We have more than 30 years’ experience helping to make retirement wealth plans work for UK residents and expats alike. Blacktower Financial Management Ltd in the UK and our International company, Blacktower Financial Management (International) Ltd (BFMI) lead the field in offering independent financial advice for retirement savers.
If you’re interested in setting up a SIPPs or a QROPS, or if you are a member of a defined benefit scheme and want to discuss your options, our financial advisers are dedicated to finding the solutions to your needs.

Make your pension work for you
In the past, many company pension schemes were defined benefit (DB). However, recent factors such as increased life expectancy and reduced investment growth expectations have meant DB schemes are too expensive for many employers. There have been a number of high-profile reports of schemes failing.
But while DB schemes may no longer be suitable for retirement savers, there are plenty of other options and benefits available, including:

• SIPPs

• QROPS (Qualifying Recognised Overseas Pension Scheme)

How will a SIPPs work for you?
Transferring your pension into a SIPP (Self Invested Personal Pension) is an option that may be right for you. SIPPs allow you, the saver, to pool your pensions into a single pot so you can draw income from it later.

With a SIPP, you get:
• Freedom and flexibility regarding investment choices

• Lower costs and charges than other types of pensions

• Ability to pass the SIPP fund on to a beneficiary upon death

There are three different types of SIPPs – full SIPPs, low-cost SIPPS, and hybrid SIPPs – and each offer differing levels of freedom over your investment options. For help deciding which would be the most beneficial for you, get in touch with a Blacktower financial adviser today.

Could a QROPS be your best option?
QROPS is an HMRC-recognised pension scheme based in a jurisdiction other than the UK. QROPS can accept transfers from UK registered pension schemes.
QROPS allow expats flexibility when it comes to pension planning. They share many benefits – for example, allow the saver to withdraw a lump sum of up to 25% and are possibly exempt from UK Inheritance Tax – but there are also key differences. For example, you have access to 100% of your pension via flexi-access drawdown, allowing you to choose when, and how much you want to take out of the scheme without having to purchase an annuity. You can also have freedom and control over your investments, with the added bonus of freely choosing your beneficiaries.
Whether a QROPS or a SIPP is right for you will depend on your individual retirement goals. This is why financial advice is vital.
Contact the team at Blacktower today or take a look at our website for more information.
www.theblacktowergroup.com