Spencer Lodge on Pension Transfers (QROPS)

Spencer Lodge speaks about QROPS. QROPS stands from Qualifying Recognized Overseas Pension Schemes, and it is available for anyone who wants to transfer UK pensions to another country’s jurisdiction, being able to retire abroad. However, if you want to access QROPS, you should not have plans to ever return back to the UK. Otherwise it might be in vain. Therefore, you should think carefully, and if this is your final choice, then the best decision you can make is to choose pension transfers services. In this way you will have more to gain than to lose. This is why you should think carefully about the next decisions you are going to make.

Spencer Lodge Fund Advisers Dubai

If you are thinking about QROPS you should know that it actually offers greater benefits than if you choose leaving your pensions in the UK. Besides this, it also offers additional benefits that might be useful. For instance, it allows you to have immediate access to funds from the age 55.

As you probably know, in the UK all the pensions have income tax deducted at the basic rate before being paid to the pensioner, and therefore a QROPS income will be actually taxed at the rate that is applicable in the same country where the QROPS is based in. This means that your tax is deducted at the basic rate applicable in the UK. Besides this, if you fulfill certain requirements, you may not pay any tax at all. Additionally, the funds may be left to the beneficiaries. As you can see, QROPS may be your best choice, especially if you take into account all the benefits it has to offer.

A QROPS provides you a higher form of flexibility over the place you wish to invest, and according to your own choice, the funds can be left to beneficiaries, and besides this, there is no UK Inheritance Tax upon death after the five years that have elapsed. You should also know that there are various jurisdictions where QROPS can be placed, each country having different tax laws. This is why you should make some research before choosing pension transfers, being able to see whether it is a good deal for you.

If you are not sure about the decision, you should seek the assistance of a financial advisor, who might be able to help you take the best decision. Moving in another country is a serious lifestyle change, and therefore you should be fully prepared for anything that is going to happen. Thankfully, if you have professional help, you will know exactly what to do, knowing for sure that you have analyzed all your options.

Now that you have more information about QROPS, it is time to take a decision which has the power to change your life. In this way you will be able to start fresh in a new country, enjoying your retirement. There is no need to wait anymore, it is time to take action in order to change the course of your future. Spencer Lodge Fund Advisers offer impartial advice on the transfer of your pension. We offer advice and assistance on both QROPS and SIPP transfers.

Fund Advisers offer impartial advice on the transfer of your pension. We offer advice and assistance on both QROPS and SIPP transfers. - See more at: http://www.fund-advisers.com/pension-transfers#sthash.MRYGEga7.dpuf

Fund Advisers offer impartial advice on the transfer of your pension. We offer advice and assistance on both QROPS and SIPP transfers. - See more at: http://www.fund-advisers.com/pension-transfers#sthash.MRYGEga7.dpuf

Fund Advisers offer impartial advice on the transfer of your pension. We offer advice and assistance on both QROPS and SIPP transfers. - See more at: http://www.fund-advisers.com/pension-transfers#sthash.MRYGEga7.dpuf

Spencer Lodge Fund Advisers Dubai

Spencer Lodge

Fund Advisers' survey shows Dubai ex-pats to be recklessly under-insured. Spencer Lodge MD Fund Advisers Dubai, the Dubai based personal finance planners, surveyed 300 of its clients this year and the results demonstrated a shockingly serious problem here in Dubai. UAE enjoys a low crime rate, your possessions can still be stolen. It also leaves a lack of cover if householders experience a fire or burst pipe. If you live in a compound or tower and are deemed responsible for a fire or flood,you could be responsible for damages caused to others' properties and possessions, in addition to your own.

Moreover, the UK's daily newspaper The Telegraph found that, when insuring their contents, general people often valued their clothes and valuables on worth at the point of valuation and not what they would be worth if bought new. The Telegraph also found that the most common items that are missed when insuring homes are often the most obvious, such as carpets, furniture, prepaid rent and security bonds.

But, as Fund Advisers' survey showed, the under-insured parties of Dubai don't stop there. Over 90% of clients surveyed do not hold sufficient life cover. This not only gives a dangerous false sense of security but also leads to a gross over-estimation of the capabilities of the life insurance already in place.

Fund Advisers found that, relative to the number of dependents and when insuring their life, parties can be heavily under-insured. If you earn £50,000 a year but only insure your life for £100,000 and the worst happens, your family will only have two years of cover.Correctly valued life insurance should pay out a lump sum in order to generate sufficient annual interest for your next of kin to live off, without depleting the lump sum value.

Do you know anyone who has had cancer, a heart attack or a stroke? What would happen to you if you were diagnosed with cancer?

The survey also found that 72% of clients surveyed had life cover but no critical illness cover or income protection. 1 in 3 people will get cancer in their lifetime. If this happens to you or your partner, how would you afford your rent or mortgage payments? Some respondents were covered by life insurance policies that were attached to joint mortgages, which meant that their property would only be paid up on the death of the second partner and not the first - i.e. the insurance would not pay out until you both died.

Spencer Lodge, MD, Fund Advisers, has said that many people think they can't afford life insurance or critical illness cover. However, he correctly points out that, "The consequences are so catastrophic if anything happens and you aren't covered, how can you afford not to have it? You are five times more likely to suffer a critical illness before you reach 65 than die. Here in the UAE you are entitled to 45 days paid sick leave, what happens to you and your family after that short time?"

Another concerning fact that Fund Advisers discovered was the chronic lack of pension cover. The UK alone has12 million elderly citizens, which is a fifth of its population. In 1981 the UK's Queen Elizabeth II sent out 2,600 telegraphs to people on their 100th birthday, in 2011 she sent 12,000 - quadruple the amount. There are now more pensioners than under-16s and by 2083 this ratio is expected to reach an astounding 3:1.With such dramatic demographic indicators you would expect savings for pensions to be at its historically highest. It is not. The UK spends just a paltry 5% of the GDP on pensions. In the US, 1 in 6 pensioners live below the poverty line and 40% of baby boomers are now so short of cash that they are planning to work until they die. With nursing homes costing upwards of £25,000 per year it's easy to see why.

Mr Spencer Lodge says"I cannot stress how important this problem has become but, it is easily overcome. We've devised a simple method of calculation to help everyone to work out what cover they actually need"

Using its own straightforward means of calculating the right amount of insurance or pension needed, Fund Advisers can make sure you are not undervaluing when taking out insurances or planning for a pension. With a basic principle called K+I+D, Fund Advisers can take into consideration, the three main areas of outgoing that need to be covered: K - Kids; I - Income; D - Debts.

This is a sure-fire way of calculating how much insurance you require. How much will a child cost in years to come? How much insurance is necessary to cover income indefinitely? And, what debts are outstanding, such as car loans, mortgages and credit cards? All these major financial needs need adequate cover in the form of life cover, income protection and critical illness cover. And they require addressing before the unexpected death of a party;especially since inflation will halve the worth of your savings approximately every 22 years.

To know more about Spencer Lodge & Fund Advisers Visit

www.fund-advisers.com

www.spencer-lodge.com

www.spencerlodge.co.uk

 

Spencer Lodge Fund Advisers MD Shares Retirement Facts

Spencer Lodge MD at Fund Advisers Dubai on Retirement Facts.

Spencer Lodge

A man who retires at age 65 can expect to live a further 19 years in retirement on average. A female at age 65 has 22 years left. This means that you could potentially spend 25% to 30% of your life in retirement and will therefore need a substantial fund to support yourself. According to recent figures, individuals aged between 25 and 44 are saving only about one third of the amount that they should be in order to support their current lifestyle in retirement. In countries other than the UK, people are required by law to make sure that their pension provisions will meet their needs in order to live comfortably, but the UK are
behind in this thinking.
A good, well constructed personal offshore retirement plan should allow you to do
the following:
• Reduce or increase contributions — usually after an initial period of
about two years.
• Switch investments between different funds to respond to changes in the
market, without penalties
• Have the option of retiring when you choose to.
• Allow you access to what you have invested, after an initial period.
• Be realistic about how much you should be contributing.
• Provide you with regular status checks to ensure that your prospective
plan is suitable for your individual requirements.
To make sure that your pension covers you for your retirement lifestyle you
would be wise to seek advice from a financial consultant who specialises in
retirement planning. It is essential that you explore all avenues available so that
you can live comfortably in your retirement years.

Spencer Lodge Fund Advisors Dubai Photo

Spencer Lodge MD Fund Advisers an Financial Advisory Institution Dubai. Spencer Lodge shares Inspirational Quotes.

Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do, so throw off the bowlines, sail away from safe harbor, catch the trade winds in your sails.  Explore, Dream, Discover. –Mark Twain

Spencer Lodge

 You can never cross the ocean until you have the courage to lose sight of the shore. –Christopher Columbus.

 

Spencer Lodge

The two most important days in your life are the day you are born and the day you find out why. –Mark Twai

Spencer Lodge

People often say that motivation doesn’t last. Well, neither does bathing.  That’s why we recommend it daily. –Zig Ziglar 

Spencer Lodge