PENSION

How To Transfer Your Pension Abroad - By: John Gray


This report is to tell you how me and hubby used QROPS to shift our pension abroad. When my hubby and I were young, we decided to start saving for our retirement. A lot of young people always think they will start saving next year. We had heard that years go by so rapidly and before you know it, it is time to retire. We had done our sums a number of years ago and knew that the UK pension was not going to amount to much.

Once the debt of a mortgage was fully paid off, we decided to start paying more money into private pension funds. We dreamed of finally moving to Spain. When the kids were young, we always used to take them to Spain on vacation and we had tender memories of it. We had also checked out villas that would be most suited.

We had done a little research about the UK state pension on-line. We found out that because Spain is within the European economic area, that our pension could be transferred abroad without any problems. All we had to do was to inform the UK pension department of our private details and our new address in Spain.

So state pensions were sorted and now it was time for our individual pensions. We looked on the net and found a corporation that dealt with transferring individual pensions to foreign countries. They not only help with pension transfers, but guarantee that you get the best possible deal with your pension scheme. It is called QROPS pension and the aim is to allow people additional flexibility, ease of mind and greater choice when it comes to investing.

We found that with pension schemes the goal posts always seem to be moving. This company though, gave a lot of advice on how we keep the value of our individual pensions when moving to Spain.We had both worked so hard to build up our private pensions and we wanted to gain as much out of them as possible. It was our savings and pensions funds that going to fund our life in Spain, so everything had to be spot on. The transfer of our pensions to a new pension strategy has gone very smoothly. So, both our pensions had been sorted and we are now on full steam to fly out to Spain and buy our villa.