Your goal – providing for retirement
How many times have you heard that you need to plan for your retirement?
In the current economic climate, even if you are a member of a company pension scheme, it’s unlikely to be a final salary scheme, so it’s essential to supplement it with personal arrangements of your own.
However, if you’re living and working abroad, you may be finding it complicated and inconvenient to set up suitable plans. You may not be comfortable with local arrangements – or perhaps you’ve discovered that you can’t actually pay into a UK pension fund, or that you’re unable to get tax relief on your contributions while you’re working away. These may all seem like good reasons to defer thoughts of retirement and pensions, or any other form of saving for future goals.
It may be a cliché to say that the sooner you start putting money away for your retirement the better, but it still makes sense – and, with expert help, you might be able to take advantage of local legislation and tax breaks while you’re about it.
Planning your investments
First you need to consider what kind of provision you need to make. Your financial adviser will help you with this by taking the time to understand your needs in full. For instance:
How much will you need for the retirement you want?
How soon do you hope to retire? People tend to live longer these days so your retirement will hopefully be a long one.
How can you make your investments work hardest for you and minimise yours and your family’s future tax liability?
Are you thinking of living abroad in the future?
Once they’ve defined your needs, your adviser will help you create a diverse portfolio of retirement planning solutions. These will help you build a fund, but also give you the desired flexibility when it comes to withdrawing your money. You can also include ways to reduce your family’s liability to UK inheritance tax (IHT), since many UK expats are still considered to be UK domiciled and will be caught by it. There are also trusts to protect your savings.
We provide you with a range of tools that help your adviser to recommend the right solutions. We are an acknowledged expert at helping advisers deliver retirement and investment solutions for different jurisdictions around the world.
For more information on planning for your retirement, please see our brochure ‘look forward to the future’.
Local solutions
We tailor our products to each country in which we operate. So, wherever you are investing, the products available are,relevant and, where appropriate, compliant for your market.
Once you’ve decided what you want to achieve, we provide a choice of products suited to your particular location be it the UK, Europe, Middle East, GCC, and Africa, Singapore or anywhere else in the world.
N.B. All literature referred to in the brochures in this section can be found on this site rather than the Royal Skandia or Skandia Ireland sites mentioned.