POWERED BY MOMENTUM MEDIA
British retirees drawn to Australia
More than half of British baby boomers over 50 are looking to relocate during retirement to escape UK's pension crisis, and Australia seems to be the top destination.
That was the finding of deVere Group's poll of 1235 people, which said 59 per cent have considered moving to countries like Australia, the US and France to escape the financial pressures of the UK.
Australia and Spain seem to be the top destinations for those over 50.
Founder and chief executive, Nigel Green, said financial pressures were the main drivers, along with standard of care for the elderly, and quality of life.
"The combination of the UK's burgeoning pension crisis, the looming care crisis, the UK's cost of living, high taxes, low interest rates, and the scrapping of some age-related benefits are, say our respondents, the main ‘push factors'," Green said.
But British expatriates are also keenly aware of financial perks of moving out, including expat-exclusive financial benefits.
These include a qualified recognized overseas pension scheme, which lets expats avoid the 55 per cent liabilities of inheritance tax, access flexible high-return investments, receive pensions in their choice of currency and attain 30 per cent as a cash free lump sum.
Recommended for you
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
