Pensions & Retirement

Pensions & Retirement2018-07-05T21:54:38+07:00
pension for expats in indonesia

Retirement Planning

Today, more and more expatriates and international investors have shortening working lives, which therefore extends their retirement period.  The financial implications of retiring before you reach the age of 65 and the financial planning needed to enjoy retirement is a priority. In order to retire early nowadays, its likely your pension premium will increase and you will in turn receive less for longer – as life expectancy and time spent in retirement increases.

  • Have you seriously thought about retirement planning?
  • Do you have a pension or savings to provide an income to meet your retirement needs and aspirations?
  • If you have a Company Scheme is your retirement date fixed and an adequate income dependent upon a long and continues membership?
  • Is your scheme portable?
  • Does your scheme make the most tax efficient use of your savings to achieve real growth?
  • Can you afford the penalty of delaying your retirement planning?
  • Can you afford not to have control?

At Global management services we have a wealth of experience in terms of retirement planning and all of the associated factors, so to set up a consultation with one of our advisors, please book a consultation or request more info at the bottom of this page.

Previous Employee frozen Plan

A previous employee frozen plan is a pension scheme that has been amended to discontinue benefit accruals, while the assets already obtained monies remain untouched. Prolonged administrative requirements enable the plan to reach full maturity.

Normally, there are two variants of frozen pension schemes and they are as follows;

A soft freeze is when benefits defined by the number of years under employment are discontinued. This means that the years of service after the date of the freeze are not factored into the pension scheme. Whereas, funds accrued due to an increase in the covered beneficiaries compensation are factored in. An alternative version of the soft freeze is to eliminate a certain type of employee or new employees from the obtaining the previous benefits available.

A hard freeze mean employees will only receive the benefits that they have already accrued and all new benefits after that date are unobtainable. So for example; if an employee has been with company for 20 years and a hard freeze has been issued on all pension scheme, if he was to then work for an additional 5-10 years, he will receive none of the benefits given during the final years of employment. Also any new employees will not benefit at all from the previous pensions schemes in place.

Pension Analysis

Here at GMS Global Management Services if you are in need of a pension analysis we will sit you down with one of our experienced independent advisors and carry out a thorough analysis of your current pension situation, assessing the impact that an unfortunate event, such as illness, disablement or premature death, could have on your financial position.

It is vital to ensure that you are equipped for any situation that could lead to financial difficulty or affect you and your families’ standard of living.


A QROPS otherwise known as qualified recognised overseas pension scheme is a when someone intends to retire permanently overseas and would like to transfer their pension.

If you pass the pension rights and residency tests it will enable you to take full advantage of tax efficient investment opportunities that allow a pension fund to incorporate a variety of currencies, commodities and markets that are not normally available to a UK pension investor.

Where can a QROPS member live and where does a QROPS have to be set up?

A QROPS can be based in any country on any continent other than the United Kingdom, on a condition that the pension scheme abides by the rules stipulated by HM Revenue and Customs.

This means a QROPS allows the funds within pension to increase in a low tax jurisdiction while the benefits can be paid out in any major currency and transferred to another country that has low income tax rates.


SIPPS stands for “self-invested personal pensions”.  SIPPS is for want of a better phrase a ‘do-it-yourself’ form of pension that enables an individual to make his or her own investments decisions.

SIPPS are not designed solely for an experienced investor for example you can;

  • Utilize a wider variety of investments opportunities than available to those with personal pension schemes including shares and commercial property.
  • Full control over your finances for example, switching funds, sectors, currencies etc.
  • Benefitting from an “income drawdown” – which is a tax efficient solution whilst keeping your pension invested. Income drawdown needs specialist help, which you can get here.