Looking for a UK Pension Annuity for Non UK residents? Does such an investment option exist that allows you to grow your pot of money with highly-attractive returns while also providing the reassurance that your principal is protected at all costs? Achieving both these things is no mean feat in the world of modern investment – and yet a fixed-term annuity seems to do just that.
If you’re a UK expat thinking about retiring abroad then you may have thought about a fixed-term annuity before – but maybe you are unsure about how it works. In this article we’ll explore it more.
What is a fixed-term annuity?
If you are not familiar with the term, a fixed-term annuity is a contract that is taken out for a set period (3, 5, 7-years etc) and offers the policyholder a fixed income for that period.
There are two types:
- Guaranteed – these offer a guaranteed rate of return over 3, 5, 7 and 10-yr set periods
- Fixed-Index – these track the performance of indices like the S&P 500 and can be taken out over 5 and 7-yr periods
Whether you’re looking to grow your money with a guaranteed rate of return or would prefer something that tracked the market – annuities can offer a fixed income that will allow you to plan for your retirement and have the peace of mind of knowing your money is safe.
You can read about fixed-term annuities here.
So, why does a non-UK annuity benefit non-UK residents?
Holding a non-UK annuity outside your country of residence can not only diversify your portfolio, but has a variety of other benefits:
- Protects your funds from in-country currency fluctuations and other economic risks
- Protection from 3rd-party creditor claims against assets
- No restrictions on location and easily accessible anywhere – perfect for people with transient lifestyles or for those who move between countries frequently
- Direct investments in foreign jurisdictions can usually result in unexpected taxes on dividends/accrued interest, but our offshore annuity is not subject to capital gains tax, income tax or any other type of wealth tax
Another important benefit of a fixed-term annuity is the protection it offers both your principal and any interest accrued – with both protected fully with a 0% floor. What this means is that your money can grow without being exposed to the ups and downs usually associated with investing.
How Harrison Brook can help – UK pension annuity for non UK residents
Harrison Brook are Expat Financial Advisers – we specialise in helping and guiding people living abroad on a range of financial issues and investment solutions. We can offer our clients flexible annuity packages that will guarantee them a stable, secure income and peace of mind.
Our low-cost, fee-based approach keeps clients costs low and is perfect for expats living abroad looking for an investment opportunity that is hands-free and low-stress. Our advice is based on what’s right for the customer – and we strive to give out the best guidance possible and help our clients find solutions that work. We are not remunerated by commission or any hidden costs like you see with other agencies.
You can meet our team here.
Our initial consultation is free so please don’t hesitate to get in touch.
