Offshore Planning
Expatriate Pension Advice
Pension planning for expatriates: Montpelier provide a comprehensive range of pension planning services. By identifying your current pension shortfalls coupled with a thorough needs analysis, Montpelier will provide a financial plan that meets all your retirement expectations. For more information please email us
With Governments and companies no longer being in a sound position to meet all their pension obligations, the emphasis is now being placed firmly upon the individual to plan for their own retirement.
Tailor Made Offshore Pension Plans: Montpelier are able to personalise a plan to meet all your financial goals and expectations. The offshore environment lends itself very nicely to providing a tax efficient solution, flexible enough to meet one's changing circumstances.
As with most tax efficient solutions, time is of the essence. For example, UK expatriates are able to take advantage of a tax-planning tool called 'time apportionment'. However for most expatriates planning their retirement, one can expect to pay double in five years time in relation what you fail to save today, with the average pension taking place over 17years that leaves only 204months of savings time left !!!
Please remember: "keep enough in your bank for an emergency and save at an amount you are comfortable with."
So how will inflation affect my expatriate pension? When you reach the age 65, all things considered and together with your financial adviser you work out that you have an income need of $30,000 to give you that comfortable standard of living that you have become accustomed too. Over a 20year inflation period, to get the same spending power, will require you to have a retirement income of $60,000.
Generally expatriates looking to have a similar standard of living in retirement as they have today, should be looking to accumulate a lump sum of $850,000 US or equivalent. At $850 per month for 25 years the figure now seems a realistic goal.
