It is no surprise that more and more UK citizens transfer to other countries such as the United States. Many of us know that US is one of the top countries and the estimated number of British expats in there are around 700,000 and ever increasing. Many UK people reside or retire in states like New York, Florida, California, and to many other friendly states. Many have looked into British pension transfers as a way to take care of their pensions whilst in the US. The low taxes and cheaper cost of living are some of the reasons why British people reside or transfer to the states.
British pension transfers are not complicated as you might think. If you are thinking about being a British expat, you should not forget about your pension. It will be your retirement savings and it will be your piggy bank when you cannot work anymore. With British pension transfers, you can control and keep your long life savings closer to you, wherever you are.
The British government will changed its cap on the lifetime allowance on April 2014. This news has struck Britons and has been the problem of high paying pensioners because they will be taxed more when they withdraw their retirement funds. Be wise enough and avoid being affected by this by looking into British pensions transfers. In this way, you may avoid the tax penalty especially when April 2014 arrives. However, you need to move fast before it’s too late.