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International pension scheme

Discussion in 'Teaching overseas' started by fleetingsound, Sep 6, 2011.

  1. Hi all,

    I am sorry if this topic has already been covered in previous threads.

    What advice can you give me on a good private pension scheme for international teachers?

    Also any info on a savings account with good interest? Maybe an offshore account?

    thanks in advance

  2. bigfatgit

    bigfatgit New commenter

    Your best bet is to seek the advice of an independent financial advisor who will take you through long and short term investments
  3. bigfatgit

    bigfatgit New commenter

    You may wish to re-consider that. Mine just saved me approx $20,000 by acting swiftly as markets etc crashed.
    Also, I agree with Stoppers regarding property - I'm currently renting out an unfurnished property for 750 pounds a month (and they pay the bills)
    Another nice little earner is investing in the companies building new student "halls of residence" in the UK
  4. Hi Fleetingsound
    I have sent you a personal message that may help
  5. thanks for all the replies you are all very kind.
  6. the hippo

    the hippo Lead commenter Community helper

    The most important thing is to make sure that you do not retire in the UK. Even if you are a pensioner, in the UK you will still have to pay flipping Council Tax, petrol is ridiculously expensive, there is VAT on just about everything, the weather is lousy and you even have to pay to park your car! That is why my wife and I bought a house in Bulgaria six years ago. We have lovely views of the mountains, a five bedroomed house, a big garden and the Bulgarian equivalent of Council Tax is about ten pounds a year. Not bad for twenty thousand pounds.
  7. Hi, my first post- I'm looking at this also. There is a scheme called QROPS which claims to offer a continuation of your UK pension scheme abroad- does anybody use it? Or do people just freeze their UK scheme and start again with a savings or offshore scheme? I'm guessing that each country is different and you search out your local IFA....?
  8. stopwatch

    stopwatch Established commenter

    I can see where you are coming from, particularly financially with this one.
    However, don't you miss family and UK friends? if you do, how do you overcome this?
    I don't think I could do this (ie live in a non-UK country) as I would miss the whole 'familiarity' thing - places, faces, culture etc even with the bad weather and other negative stuff people seem to push forward about the UK.
    However, from talking to expats in person and on this board, I think I am in the minority with this one
    Not a critical query, just curious [​IMG]
  9. the hippo

    the hippo Lead commenter Community helper

    Fair question, stopwatch.
    Well, my mother died last year, so I no longer feel that I have a strong need to go back to the UK. Also, as regular readers of my posts will know, Mrs Hippopotamus is Russian, not English, so England is not "home" for her anyway. We have now been away from the UK since 1998 and I reckon that working abroad is probably a good preparation for retiring abroad.
    Another way round the problem of missing your family and friends in the UK is to invite them to come and stay with you. We can do this easily because our house in Bulgaria is big enough and there are heaps of cheap flights between Sofia and the UK.
    As for missing the culture, I am almost inclined to say, "What culture?" I have always thought of myself as a very English Englishman and I was deeply ashamed when I was sitting in the living room of our house in Bulgaria, watching BBC World, and I saw the coverage of the recent riots in the UK. My Bulgarian friends were too polite to mention the subject.
    If I am missing England, I usually watch my growing collection of DVDs, especially "Barchester Chronicles" or "Midsomer Murders".
    Yes, there are some disadvantages to living in Bulgaria, it has to be said. For a start, there's the language! (The younger generation of Bulgarians speak English and the older generation speak Russian, so we are usually okay.) However, I am never going to be able to afford a good house in the UK, so it is really a case of making a virtue out of a necessity. We recently bought an apartment in Veliko Turnavo, a most beautiful and interesting city, and from our apartment we have lovely views of the castle and the river. From the balcony we can also look down the 14th century cobbled street. So now we have a lovely flat and a beautiful home in the countryside. How much would this cost me in the UK? A few million, perhaps?
  10. thanks Hippo I always enjoy reading your fascinating contributions and advice on this forum.
  11. the hippo

    the hippo Lead commenter Community helper

    Thank you very much, fleetingsound. It's always nice to be appreciated!
  12. stopwatch

    stopwatch Established commenter

    Fairy nuff!

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