Five tips to consider when using an overseas pension
By , 28 Apr 17
Given the recent dramatic changes to rules governing overseas pension transfers, Martin Hall, the director of Isle of Man-based pension provider Optimus, gives his tips on what to consider when using an international pension scheme.
4. Tax
Gone are the days of tax free structures and clever planning to avoid paying tax. Global authorities have clamped down over the years and if something appears too good to be true then it probably is.
In recent years, we have seen glimpses of how the authorities are looking to clamp down on those advisers/providers aggressively interpreting tax laws which ultimately creates uncertainty for members. Tax deferral not tax avoidance will be a word clients start hearing more going forward.
