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Page 12 How safe is your pension?


For many living in Spain, corporate pensions are a main source of income. We worked hard and built up our pension, and now we’re earning the reward. But a sudden event can change all that.


by Steve Iball Consultant deVere Spain


The big news recently has been the collapse of BHS (British Homes Stores), with the prospect of stores closing and many people losing their jobs. The other big issue is that former employees whose pensions are in the BHS scheme are facing significantly reduced payouts due to the failure of the scheme. The Pension Protection Scheme will now have to pay out on its behalf, but at a significantly reduced amount, with the maximum only £31,000 per year. BHS is not alone. A recent survey (as reported on the BBC) shows that nearly 5,000 company pension schemes are in difficulty.


So what’s to be done? Well, the reality is that with advance knowledge and planning, some of those pension pots can be moved to a more secure investment portfolio with values preserved. But how to know? How do you go about a fact-finding ‘mission’?


deVere specialises in global financial management and offers a free service to do just this - find out the facts, present them to you, and then discuss your options. All it takes is one call for financial peace of mind! Why wouldn’t you? Just call the number in the advert.


Last month, we shared some thoughts from deVere regarding the Brexit. It’s a fast moving landscape, but at the time of going to press, here are some interesting points from a recent deVere survey…


•68% of expats in Spain are worried that a Brexit would adversely affect them. •Many issues are unclear, but a Brexit certainly presents risks: increasing inflation, mortgage interest rates could rise, house prices could fall. •Pension and healthcare rights may well be adversely affected with a Brexit. •Business ownership is not guaranteed going forward.


deVere’s position is to remain in the EU. We believe it’s better for the UK, and better for its citizens both home and abroad. We certainly urge all expats to vote in this truly historical referendum. We’ll see you on the other side.


To book your free financial health check, just pick up the phone and call Steve Iball at deVere on 610 822 484 or email steve.iball@devere-spain.es.


Female Focus


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