Brexit Expat Pensions Panic
Expats throughout Europe are panicking in the aftermath of the EU referendum result, the Brexit vote is in but the political fall-out is far from settling for expats who now have uncertain status within their adoptive countries they call home.
The only certainty is Great Britan will leave the EU, when, how, and what new rules will be implemented is a waiting game we all must endure, with rules no doubt coming into effect from 2018 and possibly longer we must now all keep calm and carry on.
The British public voted 52% to leave leaving a very close 48% to remain with a 72% referendum turn out, the rift between the remain and leave camps are still dividing the country, with many leave voters wishing they had voted remain.
England voted to leave, Scotland voted as one to remain, whilst Wales and some remain strongholds, but mainly voted to leave.
Worryingly now is the chance Scotland might seek independence to remain in the EU.
Pension Value Uncertainty
Uncertainty of what will happen has already wiped 100 Billion pounds off the value of Britans leading companies. The pound has already lost 6% against the euro and 10% off the US dollar.
The uncertainty of the value of pensions and savings may well be a good time for all expats to switch their UK pensions offshore.
QROPS Sanctuary for Pensions
Expats face the jinx of falling fund values and collapse in spending power as the pound nose dives.
Expats and foreign workers with UK pension rights can switch their pensions to a QROPS under current rules, a QROPS is a place in calmer waters to put your pension and is probably the winning solution for any expat in Europe right now. Contact us, to find out more, leave a reply, or post comment
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