When you find a job, your employer will often offer contribute to a private pension fund.
The question that arises and why it is difficult to find a simple and clear including the forums of expatriates is whether it is worthwhile to join if you want to stay in UK few years but not until his professional retirement.
I do not give a definitive answer on the subject or the financial advisor play here but the main elements of information that I gathered.
The advantages are obvious:
- No taxes on these savings
- Employer contribution often exceeds that of the employee, for example you are asked to set aside 2.5% your monthly gross income and your employer is going to contribute up to 5% ...
points "negative"
- The bottom is used to fund your retirement and will be accessible until you have between 55 and 65. Unable to unlock money meantime except for death ...
In addition, the contribution from your employer obviously stop the day you change jobs and it is apparently possible to continue to contribute to the plan after 5 years you have left British soil (you are more "resident", no matter whether you're back in France or party in another country). If you are the resi UK, the next employer will offer a new plan and new conditions and you can usually combine the two funds to simplify management.
- Tax Complexity: If you worked a few years and Britain have made good savings and have continued to make some payments thereafter, the relationship with the French tax authorities is not very clear (this retreat Additional purchased abroad it is subject to income taxes or French she enjoys tax benefits in which it was originally purchased) ... especially since all this has plenty of time to change in 30 or 40 years ...
See this link to give you an idea problems that may arise: http://www.worldofproperty.co.uk/legal_&_ financier -235. Htm
Some interesting links (always from the perspective of a British emigrating but that applies in any case for any European who has one of these plans and changing tax residence): http
: / / money.uk.msn.com / Planning / Pension / Special_Features / Pension_Basics
http://money.uk.msn.com/pensions/articles/article.aspx?cp-documentid=9041788/article.aspx ?-cp = 4753385 documentid
http://www.frenchentree.com/retiring-to-france/DisplayArticle.asp?ID=24926
http://www.emigrate2.co.uk/jobs_and_money_detail-91.htm
Given the complexity of the subject, I am open to input / clarification!
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