QROPS - deVere Japan reaffirms importance of pension transfers

News


07 Mar, 2013

deVere Japan reaffirms importance of pension transfers

The Japan branch of the deVere Group, the world’s largest international financial advisory, has been featured on an expat publication to reaffirm the importance of seeking professional advice regarding QROPS in order for safeguard a stable income for their retirement.

deVere Japan Area Manager Tony Evans spoke on the British Chamber of Commerce Japan publication about the dire situation that UK pensions have found themselves in, as a result of the largest financial meltdown of our generation. This, coupled with a rise in life expectancy and a decrease in pension benefits by UK Chancellor George Osborne, created a major problem for individuals of all nationalities who hold a UK pension.

“Pensions were designed to fund retirements that were short, not lasting 20 or 30 years”, Tony Evans explains.

Consequently, 80% of UK firms’ pension scheme today find themselves in serious deficit and as such do not have the financial means to meet their liabilities. The result of this is a significantly reduced pension income for retirees who hold a UK pension.

With extensive experience in taking care of clients at deVere Japan, Tony Evans believes that there has never been a better time to transfer a UK pension to QROPS, or Qualified Recognised Overseas Pension Scheme.

The first step is to ‘sit down and review your current situation, including the pension itself and the scheme, with a professional financial adviser’.

“There is an unprecedented window of opportunity available to individuals eligible to a QROPS”.

The deVere Group has commissioned an independent actuary to prepare a report for interest individuals, which is very simply to initiate.

 If you wish to learn more about QROPS, speak to a deVere Financial Adviser today.