Nerja Foreigners Department – Your Pension In Spain

Latest Whats On Tuesday 3rd of May 2011

Plaza de Espana Nerja Residents Day

Nerja Town Hall Foreigners Department has organized a conference by Blacktower Financial Management Group on May 11th at 11:00 at the Cultural Centre in Calle Granada 45.  The conference will last approximately 90 minutes and wine and tapas will be offered afterwards.

The New Finance Act 2011 has brought more changes to the pension sector; the most notable change is rise on death duty from 35% to 55%.  This will come into affect from April this year.

Not many ex-pats are aware of  their rights when it comes to pensions, whether it be a personal or company scheme that is currently still in the UK.  After a change of legislation within the pension sector, all UK ex pats have now the opportunity to move their pensions from the UK to the EU, where all UK tax implications could cease.

This means that an ex-pat living in Spain may have their pension paid to them gross and they even have the choice of their preferred currency, either sterling or euro.

If you still have your pension in the UK, in the event of death, your next of kin will have to pay minimum 35% death duty on your fund before their options commence.  As from April this year (2011) this will now increase to 55%.