Planning Tax Free Offshore Pensions

Pensions for expats can be a maze of literature and advice that may leave many feeling like they are not in control of the trajectory of their lives. With pensions there are some vital points which must be observed in order to maximise the potential benefits that can be seen from various types of investments which can benefit expats in particular. The most immediate of these is tax which is especially problematic because everybody wants to see their investment grow to an extent that they can retire into a lifestyle to which they have become accustomed. Tax can reduce the amount of growth a pension may see and may hamper its future to such an extent the investment could become a pointless exercise. This naturally puts the potential investor in the position of wanting to find a quality wrapper which will yield zero tax during the policy’s life span.

It is worthwhile remembering that UK pensions for expats will more than likely still be paid to the UK even if the policyholder doesn’t live in the UK. Another damaging issue is the fact that the entire area of tax breaks are being policed a lot more. Restrictions are coming into force which could result in difficult future manoeuvres.

There are however significant advantages to having offshore pensions when it comes to tax, namely that the policyholder will be able to withdraw 100% of the amount tax free. It also allows the policyholder to withdraw it when they want, which can create a massive amount of freedom without incurring any penalties. With the tax system in the UK coming under increasing amounts of scrutiny and regulation, offshore pensions could prove to be the perfect investment vehicle for any expats who are wanting to make the most of their money.

For more information visit whichoffshore.com/offshore-financial-advice