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Annuity
Ela60
Posts: 3 Newbie
Can I buy an annuity for my works pension now I have moved abroad.
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Comments
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Depends on where you have moved to and your residency status.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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As a resident of the EU, you would find it difficult to buy regulated financial products in the UK unless you return to the UK. This is one of the issues with Brexit. UK companies are not allowed to retail regulated financial products to EU residents unless they do it via a firm that holds permissions within Bulgaria or another EU member state and holds passporting permissions.
Buying an annuity is a minority option nowadays. Most people use drawdown. If your existing pension already supports drawdown, that may be the easier and better option as use of an existing product doesn't suffer the issues that a new product purchase would.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
Thank you I need to rethink my options.dunstonh said:As a resident of the EU, you would find it difficult to buy regulated financial products in the UK unless you return to the UK. This is one of the issues with Brexit. UK companies are not allowed to retail regulated financial products to EU residents unless they do it via a firm that holds permissions within Bulgaria or another EU member state and holds passporting permissions.
Buying an annuity is a minority option nowadays. Most people use drawdown. If your existing pension already supports drawdown, that may be the easier and better option as use of an existing product doesn't suffer the issues that a new product purchase would.0 -
As regards annuities generally, I noticed today that on the HL best buy list the age 65 single life rate is now back above 6%. First time since 2013?0
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Would need to get in my Tardis to check thatwestv said:As regards annuities generally, I noticed today that on the HL best buy list the age 65 single life rate is now back above 6%. First time since 3013?
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Albermarle said:
Would need to get in my Tardis to check thatwestv said:As regards annuities generally, I noticed today that on the HL best buy list the age 65 single life rate is now back above 6%. First time since 3013?
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