Tuesday, 28 September 2010
Monday, 20 September 2010
Coming soon! Our new website: www.meyado.com.sg
We are very excited to announce that the new Meyado Singapore website is now in development!
With new features, up to date articles and advice and an enhanced, engaging Meyado Members section, the website will provide a wealth of services and information to clients and prospective clients alike.
To find out our launch date and to keep posted with everything happening at Meyado, follow us on Twitter!
Monday, 13 September 2010
UK Pensions Reform a spur to QROPS
(Comment by Chris Williams, Senior Investment Adviser, Meyado Private Wealth Management Pte Ltd in Singapore)
HM Treasury’s consultation on the removal of the requirement to annuitise by age 75 has now ended. Based on its findings, the Government will now draft legislation for introduction to law by April, 2011.
By removing the annuity requirement, the new rules should allow more flexibility for individual pension planning. One major drawback, however, is that the residual funds remaining after an individual’s death will be subject to a Tax Recovery Charge, likely to be 55%. This is in addition to income tax payable on withdrawals and inheritance tax on funds withdrawn which still form part of the deceased’s estate. If no pension drawdowns have started at the time of the individual’s death, then lump sum death benefits will continue to be paid tax free prior to the pension holder reaching age 75.
For high net worth individuals who can show that they have sufficient income (the Minimum Income Requirement, which is prevent people from exhausting their pension prematurely), there will be a flexible drawdown arrangement whereby they can access lump sums in excess of the capped drawdown limit. These “excess” drawdowns will be subject to the tax recovery charge.
The Government has also ruled out the possibility of allowing the remaining pension fund to be passed to the deceased’s family.
So what does this mean for you?
Well, if you plan to remain outside the UK after retirement, or you’re not sure when or if you might go back there, then you should consider transferring your pension offshore. If done properly, this will give you a lot more flexibility and control over where your pension is invested. In addition, it can remove some or all of the inheritance tax liabilities you would face in the UK.
Transferring your pension offshore through a Qualifying Recognised Offshore Pension Scheme (QROPS) does not mean you get instant access to the whole pot! It does mean that you can feel comfortable that all the money will pass to your family after your death.
For more information and an analytical review of your situation please contact Meyado Singapore.
Meyado Private Wealth Management Pte Ltd
32 Pekin Street, #03-01, Singapore 048762.
Tel: 6538 3583 or email chriswilliams@meyado.com
HM Treasury’s consultation on the removal of the requirement to annuitise by age 75 has now ended. Based on its findings, the Government will now draft legislation for introduction to law by April, 2011.
By removing the annuity requirement, the new rules should allow more flexibility for individual pension planning. One major drawback, however, is that the residual funds remaining after an individual’s death will be subject to a Tax Recovery Charge, likely to be 55%. This is in addition to income tax payable on withdrawals and inheritance tax on funds withdrawn which still form part of the deceased’s estate. If no pension drawdowns have started at the time of the individual’s death, then lump sum death benefits will continue to be paid tax free prior to the pension holder reaching age 75.
For high net worth individuals who can show that they have sufficient income (the Minimum Income Requirement, which is prevent people from exhausting their pension prematurely), there will be a flexible drawdown arrangement whereby they can access lump sums in excess of the capped drawdown limit. These “excess” drawdowns will be subject to the tax recovery charge.
The Government has also ruled out the possibility of allowing the remaining pension fund to be passed to the deceased’s family.
So what does this mean for you?
Well, if you plan to remain outside the UK after retirement, or you’re not sure when or if you might go back there, then you should consider transferring your pension offshore. If done properly, this will give you a lot more flexibility and control over where your pension is invested. In addition, it can remove some or all of the inheritance tax liabilities you would face in the UK.
Transferring your pension offshore through a Qualifying Recognised Offshore Pension Scheme (QROPS) does not mean you get instant access to the whole pot! It does mean that you can feel comfortable that all the money will pass to your family after your death.
For more information and an analytical review of your situation please contact Meyado Singapore.
Meyado Private Wealth Management Pte Ltd
32 Pekin Street, #03-01, Singapore 048762.
Tel: 6538 3583 or email chriswilliams@meyado.com
Friday, 3 September 2010
Wednesday, 1 September 2010
Thursday, 19 August 2010
Get the lifestyle you deserve
What kind of lifestyle do you imagine for yourself? If your not living that 100% right now, why not see if we can help you get there.
Meyado will help you to achieve your financial goals and in doing so will help you achieve your lifestyle goals as well.
With our newly enhanced International Executive Club Membership, living the lifestyle you deserve has never been closer at hand.
Call Eve Labine ph:6538 3509 who will put you together with one of Meyado’s senior advisors.
- International Savings Plan - Capital Investment Advice - Portfolio Management- Trusts - QROPS - Pensions - Wills - International Mortgages
Meyado will help you to achieve your financial goals and in doing so will help you achieve your lifestyle goals as well.
With our newly enhanced International Executive Club Membership, living the lifestyle you deserve has never been closer at hand.
Call Eve Labine ph:6538 3509 who will put you together with one of Meyado’s senior advisors.
- International Savings Plan - Capital Investment Advice - Portfolio Management- Trusts - QROPS - Pensions - Wills - International Mortgages
Sunday, 4 July 2010
BritCham Breakfast Club
Meyado is proud sponsors of the BritCham Breakfast Club!
The BritCham Breakfast Club provides an opportunity to attend an informative seminar presentation on a range of varied topics throughout the year. The twice monthly breakfasts attract guests who enjoy networking whilst enjoying a traditional English breakfast.
Next Breakfast: Can your brand be different?
In a world of change, only one brand can be the cheapest in any category, and it's increasingly unlikely to be a British brand. So how can your brand be different?
Sub Heading: Unlocking the value of British Design
Presenter: Jonathan Sands, Chairman of Elmwood
Venue: Raffles Hotel Singapore
Date: Tuesday 27th July 2010
For full details and to place you booking, please visit: http://www.britcham.org.sg/index.php?action=showEventDetails&eventID=265
The BritCham Breakfast Club provides an opportunity to attend an informative seminar presentation on a range of varied topics throughout the year. The twice monthly breakfasts attract guests who enjoy networking whilst enjoying a traditional English breakfast.
Next Breakfast: Can your brand be different?
In a world of change, only one brand can be the cheapest in any category, and it's increasingly unlikely to be a British brand. So how can your brand be different?
Sub Heading: Unlocking the value of British Design
Presenter: Jonathan Sands, Chairman of Elmwood
Venue: Raffles Hotel Singapore
Date: Tuesday 27th July 2010
For full details and to place you booking, please visit: http://www.britcham.org.sg/index.php?action=showEventDetails&eventID=265
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