Claiming your pension while in Dubai. #pensions #ukpensions #qrops #IN
07 Wednesday Nov 2012
If you have decided on retiring to Dubai here is a guide to some of the steps you should take before jetting off.
Personal and company pension schemes can usually be paid anywhere, for many people who have left the UK transfer your pension fund abroad has become increasingly popular. This can be only be done through the use of a QROPS (qualified recognised overseas pension scheme). This would eliminate any exchange rate risk although all such international transfers must be approved by the Inland Revenue.
Retiring to Dubai, and the incredibly high standard of living enjoyed by ex-pats there might help you make the most of your golden years. However, moving to Dubai is a big decision and one you should not rush into. Make sure you have thought everything through carefully before committing to buy your retirement Dubai villa.
This article is for information purposes only and does not constitute advice. All views in this article are opinions of the Expats Pensions team. We specialise in helping people that have left the UK evaluate the possibility of taking their UK pension with them. For further information please visit http://www.expatspensions.com
For details on claiming your state pension you can visit the UK government website: https://www.gov.uk/state-pension-if-you-retire-abroad