{"id":461943,"date":"2025-09-30T02:22:15","date_gmt":"2025-09-30T02:22:15","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/461943\/"},"modified":"2025-09-30T02:22:15","modified_gmt":"2025-09-30T02:22:15","slug":"reeves-pension-raid-rumours-have-expats-eyeing-moving-funds-out-of-uk-london-business-news","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/461943\/","title":{"rendered":"Reeves\u2019 pension raid rumours have expats eyeing moving funds out of UK – London Business News"},"content":{"rendered":"

Mounting speculation that UK Chancellor of the Exchequer Rachel Reeves could tighten the tax treatment of retirement savings in her November Budget is prompting British expatriates across Europe to consider moving pensions out of the UK, according to deVere Group<\/a> <\/strong>investment director James Green.<\/p>\n

No measures have yet been confirmed, but Reeves faces a \u00a320 billion gap in the public finances and borrowing costs at their highest in over a decade, with ten-year gilt yields around 4.75%.<\/p>\n

The pressure to raise revenue without headline income-tax hikes has fuelled debate that pensions may be in the frame.<\/p>\n

\u201cExpats are already weighing their options,\u201d James Green notes.<\/p>\n

\u201cEven the possibility of new or extended taxes on pensions is enough to set serious savers in motion. British nationals living<\/a> in Europe, those planning to retire there, or other nationalities, such as Irish and Dutch with UK pensions, are now considering international solutions to protect their retirement income.\u201d<\/p>\n

deVere Group, which has 80,000 expatriate clients, reports a marked increase in enquiries from UK citizens in Portugal<\/a>, Spain, France and the Netherlands. Many are exploring cross-border EU IORP structures, particularly in Malta, ahead of the Budget<\/a>.<\/p>\n

\u201cThe conversation has shifted from curiosity to preparation,\u201d he explains. \u201cPeople recognise that Malta\u2019s EU-recognised framework provides<\/a> flexibility, strong investor protection and potential tax efficiencies that could prove vital if the UK introduces tougher rules.\u201d<\/p>\n

Malta allows tax-efficient lump-sum withdrawals of up to 30% with no lifetime cap, phased income on a schedule set by the member, and inheritance treatment often outside UK death duties for non-residents. Portugal\u2019s still-favourable tax regime, along with similar arrangements in Spain and France, strengthens the appeal for mobile retirees.<\/p>\n

James Green<\/a> emphasises that the concern extends beyond high-net-worth individuals.<\/p>\n

\u201cFrozen allowances and stealth tax rises have already drawn millions into higher brackets,\u201d he says.<\/p>\n

\u201cEven a modest extension of those freezes would hit many middle-class pensioners. Anyone with UK retirement savings who lives abroad<\/a>, or plans to, should be considering the implications now.\u201d<\/p>\n

Official data show UK public borrowing running well above forecasts as debt-service costs rise<\/a>. \u201cInterest payments<\/a> are tens of billions higher than projected,\u201d notes the deVere director.<\/p>\n

\u201cThis fiscal reality keeps pressure on the Treasury to find revenue sources less politically explosive than broad income-tax hikes. Pensions are a perennially tempting option, which is why investors are acting even before any announcement.\u201d<\/p>\n

He warns that heavy taxation of pensions would undermine market confidence. \u201cIt discourages long-term saving and investment<\/a>, weakening the very economy the government aims to strengthen,\u201d he says.<\/p>\n

\u201cSavers and investors naturally look for jurisdictions where the rules are clearer and more stable.\u201d<\/p>\n

James Green advises taking professional guidance early.<\/p>\n

\u201cCross-border pension planning requires time and precision,\u201d he says.<\/p>\n

\u201cWaiting until after the Chancellor\u2019s Budget<\/a> could mean missing the opportunity to make compliant, efficient transfers before any new measures take effect.\u201d<\/p>\n

He concludes: \u201cRachel Reeves has not confirmed any changes, but the combination of fiscal pressure and political calculation is enough for expats to be considering decisive action on their retirement income.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Mounting speculation that UK Chancellor of the Exchequer Rachel Reeves could tighten the tax treatment of retirement savings…\n","protected":false},"author":2,"featured_media":461944,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[51,1700,474,2074,2499,285,619,1200,16,15],"class_list":{"0":"post-461943","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-economy","10":"tag-finance","11":"tag-pension","12":"tag-personal-finance","13":"tag-politics","14":"tag-rachel-reeves","15":"tag-tax","16":"tag-uk","17":"tag-united-kingdom"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/461943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=461943"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/461943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/461944"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=461943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=461943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=461943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}