We work in Panama - Where do we put our Money?

PaulJW95

Hello everyone,

First of all I just wanted to say thank you in advance for any help or support you can give us.

My partner and I moved to Panama at the back end of 2021.

We both now work for a Global Food Organisation and live in Panama.

When we were conducting our onboarding with the company, they gave us an introduction into a "pension plan" here in Panama. The plan seemed a little... well confusing and, to be totally honest, the short of it is, if we leave Panama then we lose the percentage from the company and I just feel like it would be a bit of a headache in the future to sort out.

Our question for you experienced folk is:
WHAT DO WE DO WITH OUR MONEY?

I was thinking of just taking 10% a month a putting it into a "PIE" of sorts within Trading212 and just leaving it there for 40 odd years but surely there is something a little more structured and safe for us to do? Like a global company?

We are both 26 so this sort of thing (unfortunately) hasn't really been something we've had to think about before.

Thanks again,

All the best,

JoeCrystal

Then you need to educate yourself on exactly what you can do. What exactly is the retirement provision is in Panama anyway? Ask questions and clarify your confusion so you got a better idea of what your retirement provision is. Secondly, keep on paying your NI contributions to the UK voluntarily to keep building up your State Pension provision as well which is still very generous.

Besides, how do we mean to know what options are available for you in Panama anyway? Are there forums in Panama you can check out or other people in Panama who immigrated from the UK in your company and ask them what they did?

Albermarle

Basically this is a too specialist a question for a UK consumer finance forum. 

robatwork

If ever there was a need for a man, a plan, a canal, panama.