Careers At Abbey Wealth

Enjoy your retirement by strengthening your pension funds and maximising your income.

As you near retirement, adjustments to the way your money is invested may be essential. When you retire, our focus shifts to ensuring you maximise the income you can enjoy, and that you secure your assets for your lifetime and for your beneficiaries.

Considerations for Expatriates planning their retirement

Benefits of Pension Planning and Advice

Benefits of Pension Planning and Advice

Achieve your retirement goals in 3 simple steps

Step

Book your free consultation meeting

Step

 We will assess any current pension or savings plans you may have.

Step

Then determine your retirement and future goals, plans and ambitions.

Expatriate Pension Options

Frozen Pensions

If you have one or more frozen or tax inefficient pension schemes in the UK, we will examine them when structuring your retirement plan. We then walk you through your options, backing up any recommendations with written supporting evidence. If any action is required on your part to make more of these frozen schemes, we will help you with paperwork and bureaucratic processes.

QROPS

Qualifying Recognised Overseas Pension Schemes (QROPS) are a type of overseas pension often used by British expats when saving for their retirement. The benefits of QROPS include tax advantages, currency and investment flexibility, and etc. QROPS require very specialist advice; at Abbey Wealth we are qualified to offer that advice. Depending on the value and type of pension you have in the UK, QROPS may or may not be the best solution for you (QROPS must meet strict HMRC criteria to become a ‘Qualified’ scheme, however the QROPS product fall ‘out of scope’ by our regulator the Central Bank of Ireland). Please contact one of our Pension Specialists to discuss this without charge or obligation.

Overseas Sipp

An Overseas SIPP is exactly the same as a traditional self invested personal pension, however it enables the account holder to either choose and manage the assets or to receive advice from an expatriate pension adviser such as Abbey Wealth. We will clarify whether an Overseas SIPP is a suitable vehicle for you, as it can prove to be a very cost effective form of pension management.

Pension Transfer

If you choose to transfer your UK pension overseas, you will need professional help. Any receiving pension scheme only accepts transfers via authorised advisories such as Abbey Wealth. We deliver best advice and ensure any transfer is appropriate for the client, as well as compliant with HM Revenue and Customs’ regulations and requirements. Structured correctly the tax advantages and protection from IHT can be very beneficial.

Post Retirement Investment and Income Advice

It is essential that your wealth works for you after you retire. We will continue to review your wealth plan and advise you on the best approach to protecting and enhancing your income producing assets throughout retirement. We will structure your estate to be as tax efficient as possible, and suitably positioned to meet any inheritance tax liabilities you or your family may need to consider.

Testimonials

Richard Crockett
Richard Crockett
5/July/23
Read More
I am extremely happy with the service provided by my Abbey Wealth advisor Oliver Medina. He has provided clear and effective advice on opening new funds and refining existing pension strategies. He always takes time to talk through the options on the phone and keeps in contact regularly, far more frequently than my previous advisor. Highly recommended
Anita Bradshaw
Anita Bradshaw
5/July/23
Read More
I am incredibly grateful for the service I received from the team transferring my pension into a QROPS at Abbey Wealth. Craig, Stephanie and Andrew did a super job and went well beyond the call of duty for me under really difficult and trying circumstances. I was really impressed by the dedication and tenacity all three of them showed, and the long hours worked on my behalf: my savings seemed to be every bit as important to them as they are to me. I cannot recommend them enough.
Shaun
Shaun
5/July/23
Read More
Abbey Wealth supported me as a UK ex-pat to address my UK pension. I had been in contact with them for about 3 to 4 years before they felt that the time and the numbers made sense to make a move. In the end the timing was perfect. From the initial interactions through to currently working with Iain Henderson and the support team, I have been dealt with professionally and in away that gives me confidence.
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Testimonials

Richard Crockett
Richard Crockett
November 22, 2022
Read More
I am extremely happy with the service provided by my Abbey Wealth advisor Oliver Medina. He has provided clear and effective advice on opening new funds and refining existing pension strategies. He always takes time to talk through the options on the phone and keeps in contact regularly, far more frequently than my previous advisor. Highly recommended
Anita Bradshaw
Anita Bradshaw
November 22, 2022
Read More
I am incredibly grateful for the service I received from the team transferring my pension into a QROPS at Abbey Wealth. Craig, Stephanie and Andrew did a super job and went well beyond the call of duty for me under really difficult and trying circumstances. I was really impressed by the dedication and tenacity all three of them showed, and the long hours worked on my behalf: my savings seemed to be every bit as important to them as they are to me. I cannot recommend them enough.
Shaun
Shaun
November 22, 2022
Read More
Abbey Wealth supported me as a UK ex-pat to address my UK pension. I had been in contact with them for about 3 to 4 years before they felt that the time and the numbers made sense to make a move. In the end the timing was perfect. From the initial interactions through to currently working with Iain Henderson and the support team, I have been dealt with professionally and in away that gives me confidence.
Previous
Next

Why Abbey Wealth.

Excellent

Rating on TrustPilot

Over 3000

Satisfied Clients

50 Countries

Currently Covered

£650m

of savings and investment under advice and administration

Fully Regulated

to the highest of standards

Pension Guides For Expatriates

Frequently Asked Questions - Pension Advice

I live overseas and I have a UK Pension and my UK adviser has told me they can no longer advise me due to Brexit. What are my options.

As part of the Brexit withdrawal agreement, Financial services was not included and the UK can no longer passport their services into the EU. This is why your adviser can no longer advise you.

 

You will need to engage the services with a firm that is regulated within Europe to explore the available options for you. Abbey Wealth is directly regulated by the Central Bank of Ireland with passporting services across the European Economic Area to advise you on your options.

My UK Pension will not pay my income into my overseas Bank account. They will only pay to a UK Bank account which I no longer have due to Brexit. Can you help.

More and more Pension providers will only pay to a UK Bank account which is creating a lot of stress for their clients.

 

We here at Abbey Wealth have several options for our clients, whether that be moving your existing UK pension to an alternative UK Pension scheme or moving your Pension to a Qualified Recognised Overseas Pension Scheme (QROPS). All the schemes we look at will pay any income to any Major Bank account as long as the account is in your name. They will also make payment in most major currencies that includes GBP, EUR & USD.

I have a UK Pension and live overseas, what are my options now I do not live in the UK.

There are many options to consider, whether that be moving your existing UK pension to an alternative UK Pension scheme or moving your Pension to a Qualified Recognised Overseas Pension Scheme (QROPS).

 

The first decision you need to consider is not where should you move your Pension too, it is whether you should keep what you already have.

 

A fully qualified Financial Adviser should firstly access your existing scheme to confirm –

 

What restrictions if any apply to your current scheme.

Fees applicable to your current scheme.

Are their any guarantees attached to the scheme.

Fund performance & is it in line with your longer-term plans and risk appetite.

 

Pensions can be complicated and we would always recommend speaking with a Qualified adviser.

I do not live in the UK, am I still entitled to the UK State Pension.

The UK State Pension is dependent upon your National Insurance record (Basically the more years you have contributed the higher the entitlement) the following links take you to the UK government site that has the full details.

 

State Pension if you retire abroad: Claim State Pension abroad – GOV.UK (www.gov.uk)

 

The new State Pension: How it’s calculated – GOV.UK (www.gov.uk)

How is my Pension taxed now that I do not live in the UK.

This will depend on whether the UK has a double tax agreement with the country you reside in.

 

If there is no Double Tax Agreement (DTA) in place, it will be taxed in the UK as UK sourced income. You will need to seek tax advice on your Country of residence as you might have to pay tax in the country you live in as well.

 

If there is a Double Tax Agreement in place, then this will depend on the terms. For example, the DTA between the UK & France states that personal Pensions are to be taxed in the Country you reside, so in this case France. Obviously they don’t make it easy, you would need to obtain a No Tax Code from HMRC so that your Pension provider does not tax the Pension at source.

 

Click on the following link to find out if where you live has an existing Double Tax Agreement in place.

 

Tax treaties – GOV.UK (www.gov.uk)

 

If you are living or intending to move overseas, it is highly recommended you speak to one of our experts who can explain the options to you in more detail.

If I move my Pension to a new scheme, it is safe. What protections do I have.

The protections will vary depending on who the new Pension scheme is regulated by.

 

For example, If you are moving your Pension to another UK Pension scheme, then the new Pension scheme will also be regulated by the FCA and will also come under the Financial Services Compensation Scheme. This is the same as your existing UK Pension scheme.

 

The more important aspect to consider is how the advisory firm is regulated. This is very important when deciding which Financial advisory Firm you decide to use as not all firms are regulated to the same high degree as ourselves as highlighted below.

 

The firm “Abbey Wealth” has two legal entities, both trading as Abbey Wealth.  AFS Wealth Management and Insurance Advisory Limited, which has an Insurance Intermediaries license and AWM Wealth Advisers Limited, which has a MiFID license.

 

AFS Wealth Management & Insurance Advisers Limited, trading as Abbey Wealth, (hereafter to be referred to as “the Firm”), is regulated by the Central Bank of Ireland, Licence C143069. For more information, please see the Central Bank website.

 

AWM Wealth Advisers Limited (hereafter to be referred to as “the Firm”), regulated by the Central Bank of Ireland Licence C182986.  It is an Investment Firm – MiFID authorised as an Investment Firm under Regulation 8 (3) and deemed authorised under Regulation 5 (2) of the Statutory Instrument No. 375/2017 European Union (Markets in Financial Instruments) Regulations 2017 (as amended) (MiFID) for the provision of the investment services of: (i) investment advice; and (ii) the reception and transmission of orders in relation to transferable securities, money-market instruments and units in collective investment undertakings. For more information, please see the Central Bank website.

 

The Firm is committed to consumer rights and consumer protection and the following protections will ensure that consumers have peace of mind that protection is in place:

 

The Central Bank of Ireland (CBI) regulates all financial services firms in Ireland. In addition to monitoring the soundness and solvency of financial institutions and the stability of the Irish financial system, it is also tasked with providing a safe and fair financial services market for consumers. The provision of consumer information and general consumer education is not within the remit of the CBI but resides with the Competition and Consumer Protection Commission (CCPC). In addition, the Financial Services and Pensions Ombudsman (FSPO), as opposed to the CBI, is the designated body to receive complaints and direct redress from individual consumers against financial services products in Ireland.

 

The Firm is a member of the Investor Compensation Scheme, managed by the Investor Compensation Company Limited (ICCL) and applies levy rates for Investment Firms members of the Investor Compensation Scheme.  Further information please see the ICCL website.

 

The CBI requires all Investment Intermediaries to hold PII at a minimum of EUR 1,300,380 per claim and EUR 1,924,560 aggregate cover per annum.

Additional Ways In Which We Can Support You

Maximise your Investments

As a non-resident, the financial landscape opens up for you considerably. You have an increased choice of how and where to invest your money – either through regular savings or lump sum investments.  And for many expats there are massive tax advantages to saving and investing that could benefit you greatly.

Maximise your Future

Expats who are living and working abroad often find that they are able to save more than when they livedat home. If you are an expat who is still working and would like to start saving some of those earnings, our team can help create a bespoke savings plan to help get the most return on your investment.

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