International SIPPS: a short pension guide

One of the challenges facing many British expats is how to start and build a pension. Living overseas can make it more difficult to access many of the benefits available to those living in the UK (e.g. tax relief on pension contributions, which becomes subject to the “Five Year Rule” once someone becomes a non-resident).

How the 25% tax-free pension lump sum works in Spain

One of the great benefits of living in the UK is that an individual can access their pension benefits from age 55 and withdraw up to 25% as a tax-free lump sum (in 2023-24). However, what happens if you move abroad? Do you still enjoy the same tax benefits?

5 QROPS pension myths, busted

If you are a British expat in Spain (or elsewhere abroad), you may have heard the word “QROPS” when considering pension planning. QROPS is shorthand for “Qualified Overseas Recognised Pension Scheme” and is commonly used to refer to an overseas pension scheme which could be a suitable destination for a pension transfer.

QROPS: a short guide for UK expats in Spain

For British expats retiring to Spain (or another country), one of the key questions to answer is what to do with your pension. Should you keep it in the UK, drawing an income from it whilst abroad? Or, should you “take it with you” – i.e. transfer it overseas? The latter option can be done using a Qualified Recognised Overseas Pension Scheme (QROPS). Below, our Valencia financial planners at Scottsdale explain how QROPS works for British expats in Spain and how it can feature in a wider retirement plan.

Can I get my UK State Pension if I move to Spain?

A retirement in Spain needs a reliable, sustainable income. The UK State Pension can be a valuable income stream for many UK expats residing here. Yet what are the rules governing it? How can you get the best State Pension deal as a British expat?

Retiring in Spain: 3 tips for British citizens

Spain is the most popular destination for UK expats looking to retire, attracting over 1,000 retirees every month. As financial advisers here in Murcia, Costa Blanca and Almeria we fully understand why! The weather is warmer, the lifestyle is relaxed and the cost of living is around 21% lower. However, before rushing abroad, it is important to have a robust financial plan in place.