Pensions and Retirement
Advice on UK and international pensions, and planning a reliable retirement income while living abroad
Retirement Planning
Most people want to know two things about their pensions: whether they will provide the income they need, and how to make the most of them now that they live in Spain. We start by gathering the details of every pension and savings plan you hold, in the UK, Spain or elsewhere, and work out the income they are likely to provide. This includes checking your UK State Pension forecast and whether voluntary National Insurance contributions are worthwhile. We then explain whether you are on track and what, if anything, should change.
SIPPs, QROPS and QNUPS
Many of our clients have several UK pensions from different employers. A Self-Invested Personal Pension (SIPP) can bring these together in one place, with a wider choice of investments and the option of holding them in other currencies. A Qualifying Recognised Overseas Pension Scheme (QROPS) can be an alternative for some people living outside the UK, and a Qualifying Non-UK Pension Scheme (QNUPS) may be suitable for some clients as part of their wider retirement and estate planning. We review what you hold, compare the costs and features of your options, and explain whether moving your pensions would leave you better off.
US 401(k) Plans and IRAs
You may have built up savings in a 401(k) or IRA while working in the United States, whether you are American, British or another nationality. We help you manage these accounts from Spain, including reviewing how they are invested, deciding whether to leave them where they are or start taking benefits, and understanding how withdrawals are taxed in Spain.
Pensions and Inheritance Tax
From April 2027, most unused UK pensions will fall within the scope of UK inheritance tax. Spanish inheritance tax may also apply, depending on where you and your beneficiaries live. We review how your pensions fit into your wider estate, including who you have nominated as beneficiaries, and explain the options available to you.
If you have pensions in the UK or elsewhere and aren't sure what to do with them, an initial call is a good place to start.