I have recently moved over to Cape Town and have a UK company pension which has been running for a few years. Once I moved overseas this pension is frozen and just sits earning very little until I draw on it and when I do drawdown it is taxed. However what most Brit Expats do not know is that the law changed in 2006 and we can now move that pension offshore and gain HUGE benefits. e.g significantly higher growth, tax free drawdown in South Africa, control over who looks after the cash and what they invest in, and who gets the cash when we eventually die. Left in the UK you have no control over the process, drawdowns are taxed, growth is a paltry 2-3% ish and you are heavily restricted in who you pass the benefit on to. If you have a UK frozen pension pot worth more than £25000 you really, really need to look into this.
Anyone wanting more information please contact me.
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