Why Expat Retirement Plans and Offshore Savings are a Perfect Match?
Did you start looking into expat retirement plans?
Maybe you believe that you are still young and there is plenty of time for retirement saving plans?
In today’s economy where nothing is certain, it is never too early to plan for yours and your family’s future.
Moreover, as an expat who lives in a foreign country and relocates every few years to a new country, you do not always know when you’ll retire, and if you will have a decent pension savings plan; A plan that will enable you and your family to live comfortably.
So, how can you plan your expatriate pension?
Start looking into offshore investments – Offshore pension plans are an excellent solution for expats:
- Expat retirement plans and offshore savings can go with you wherever you live and allow you to continue to contribute to your retirement plan. Thus your pension planning doesn’t need to be put on hold. Moreover, you can enjoy your pension everywhere in the world.
- Multi purpose savings – You can use offshore pension plans to save for more than one reason. For example you could combine your pension and children’s education savings.
- Expat Retirement Plans and Contribution Flexibility – Offshore savings plans provide the flexibility to take contribution holidays or reduce premiums subject to the terms and conditions, and allow you to increase your premiums and add lump sums. You can make monthly, quarterly, six monthly or annual contributions by bank standing order, visa and master card.
- Expat Pensions and Investment Flexibility – Offshore savings plans offer a wide range of funds and provide the freedom to easily switch between funds giving you the ability to tailor your fund selection to suit your ongoing savings requirements and attitude to risk. The investment flexibility also enables you as you near your chosen retirement date to switch to low risk fund options to preserve gains.
- Expat Pensions and Withdrawals – Offshore savings plans allow you to make partial withdraws and withdraw the full amount as a lump sum when you retire.
- Security – Offshore pension plans provide a high level of client protection and confidentiality because your plan will be established in a highly regulated offshore center
- Tax exemption leads to higher pension – Offshore savings plan funds enjoy tax free growth and any growth in your investments will be added to your plan without any deduction of tax (with some exceptions in jurisdictions where withholding taxes imposed on dividends are not recoverable). You will also receive the proceeds of your plan, or any partial withdrawals, without the deduction of tax by the offshore company.
The article about offshore pension savings was contributed by http://blog.expat-financial-advice.com