Spencer Lodge Fund Advisers Dubai

Spencer Lodge

Spencer Lodge MD Fund Advisers Dubai. The opening of the Fund Advisers office in Dubai follows 20 years of perfecting financial services sales management and leadership. During that time I built the largest and most successful sales forces in the international financial services arena, but building a great sales team is only half of the story – to get great results, you have to give great service, and that is what Fund Advisers is all about.

We are a team of qualified and professional financial specialists dedicated to providing expert advice to expatriate and International clients. My goal is simple, to cut away the industry jargon, and instead give our clients the kind of sound advice that will make a real difference in their lives, backed up with the best products and most efficient service we can possibly provide.

My role is to keep that vision clear, the team focused, and ensure we always, always deliver. I am proud of what we can do, and the difference we can make.

No matter where you are in life, or what your financial circumstances, talk to Fund Advisers as I believe we can truly help.

Please contact me or any member of the team when you need some sound, practical, straightforward advice about any aspect of your financial circumstances.

Expat Pension Provision for Women in Abu Dhabi and Dubai with Spencer Lodge

Spencer Lodge is MD of Fund Advisers fund-advisers.com.Spencer Lodge Fund Advisers is widely recognised one of the leading financial advisers for the female expatriate community here in the United Arab Emirates. We asked him about pension planning provision for women already here in Abu Dhabi and Dubai.

Here’s what Spencer Lodge had to say.

State Pensions – An overview

If you continue to pay your contributions towards your state pension and decide to move abroad to somewhere like Abu Dhabi or Dubai, then it could prove problematic when investing for your retirement. You can continue to pay class 2/3 contributions to the UK state pension scheme, but your final entitlement will almost certainly not keep you in a luxury lifestyle in your retirement years.

Mr Spencer also said that another issue is that the age of retirement for state pensions will be rising in the coming years, meaning that you will have to work beyond the current 65 year old threshold. On the other hand, if you do not continue to pay contributions into your UK state pension (since you don’t have to if you move abroad), then this could potentially reduce your entitlement completely. This would mean that you would have to start saving towards your pension through other means if you have not been investing already. In order to overcome these problems with state pensions, you will need to start saving or investing towards your retirement as early as possible.

Women Will Benefit From Saving

Whether you live in the UK, Abu Dhabi or Dubai, It is a hard reality to consider, but statistically, one marriage in two will end in divorce, and women who have not planned for their retirement could end up with nothing to live on. So do you rely on your husband to support you through your retirement years, or will you start saving and investing in your own pension fund for yourself?

Only about 20% of all women will receive an adequate pension when they retire. The large majority of women are approaching retirement without any financial security measures in place leaving them open to potential hardship should their marriage break down. Even in this day and age, a woman’s earnings will typically be much less than any man’s meaning that they will automatically have lower pension benefits. That is, if a woman has a pension in the first place. Around 50% of working women do not have a company pension plan and are less likely than a man to receive an adequate pension.

So, what can you do to ensure that you are financially secure when you retire?

Start planning your pension while you are young and begin investing as much as you can each month into your future pension fund. Although your spouse will more than likely have a larger pension fund to retire on than you, at least you have prepared for the worst with your own retirement plan. Above all, your retirement could be more luxurious than planned.

If you are based in Abu Dhabi or Dubai and would like further information on the range of products and services offered by Fund Advisers, please visit  www.fund-advisers.com

The Qualifying Recognised Overseas Pension Scheme by Spencer Lodge.

Spencer Lodge fund-advisers.com Dubai. Spencer Lodge is a self confessed workaholic who has been working at the very top of the Financial Services Industry around the World for over 18 years. Since leaving the deVere Group, he is now Managing Director at Dubai based Fund Advisers, one of the leading independent financial services company in the United Arab Emirates.

We caught up with him to ask about QROPS, the Qualifying Recognised Overseas Pension Scheme

The Qualifying Recognised Overseas Pension Scheme or QROPS schemes allow you to transfer your UK accrued pensions to another jurisdiction if you decide to retire/reside abroad. Any individual can qualify for a QROPS if they are between the ages of 18 and the maximum age of 70/75 and have retired/reside, or are seriously considering retiring abroad to another country in the next 12 months. You must also have accrued a pension of over £50,000.

If you are planning to move abroad for example the UAE, a QROPS scheme can offer you greater

benefits than by leaving your pension in the UK, especially after 5 years of non UK residency.

• The pension income is more tax efficient.

• You can take a lump sum of up to 30%.

• There is much greater investment freedom.

• You can take income and benefits in the currency of your choice.

• All unused pension funds can be left to your beneficiaries.

• No need to take an annuity or pay a UK tax charge upon death.

Further information can be found on our website www.fund-advisers.com

How To Find What's Best For You

Although researching and investing in pension schemes yourself may seem like the best idea, sometimes it is just not practical especially if you are new to investing. You must also consider whether you will have the time, patience and expertise to make important decisions about your future. Retirement planning is essential, as is gaining valuable advice that will set you up for your retirement years. Help yourself by finding the right pension solutions for your circumstances.

At the Fund Advisers Group we take positive steps to help you gain the most from your retirement planning with a group of professional retirement planners based globally.

About Fund Advisers

Fund Advisers is a large independent financial consultancy group with global operations. We work with international investors and expatriates to find financial services products that best suit their medium to long-term requirements for investments, savings and pensions.

With in excess of US $2 billion of funds under administration and management, Fund Advisers has more than six thousand clients in twenty countries. Our independence and ability to offer financial products that are tailor-made to fit an individual’s needs are behind our success, and our work ethic is without equal in the industry.

Fund Advisers Dubai Spencer Lodge fund-advisers.com

We managed to grab 5 minutes with Spencer Lodge at Fund Advisers here in Dubai fund-advisers.com . He is widely recognised one of the leading global advisers on financial issues for the expatriate community having worked for some of the largest financial companies in the world including deVere and Partners.

Here’s what he has to say. A growing number of professionals of all nationalities have been moving to and working in different countries in the last decade. Whether you are a young executive or already have a diverse portfolio of global assets, you will have specific financial goals and objectives. The growing range of offshore financial products and services can help you achieve financial security and provide you with the quality of life you want when you decide to retire.

                                     

Spencer Lodge also told that Investing in international accounts is no longer the sole premise of the rich and famous; all expatriates living abroad may now enjoy flexibility, among other benefits, by investing their money overseas. The offshore financial industry has become more popular and financial institutions from around the world have entered the offshore market as a result of rising demand. There are now many providers that offer a broad range of services ranging from saving schemes to pension and retirement plans, wealth management accounts to lump sum investment products. Let’s look at some facts.

A man who retires at age 65 can expect to live a further 19 years in retirement on average. A female at age 65 has 22 years left. This means that you could potentially spend 25% to 30% of your life in retirement and will therefore need a substantial fund to support yourself. According to recent figures, individuals aged between 25 and 44 are saving only about one third of the amount that they should be in order to support their current lifestyle in retirement. In countries other than the UK, people are required by law to make sure that their pension provisions will meet their needs in order to live comfortably, but the UK are behind in this thinking.

A good, well constructed personal offshore retirement plan should allow you to do the following:

·         Reduce or increase contributions — usually after an initial period of about two years.

·         Switch investments between different funds to respond to changes in the market, without penalties

·         Have the option of retiring when you choose to.

·         Allow you access to what you have invested, after an initial period.

·         Be realistic about how much you should be contributing.

·         Provide you with regular status checks to ensure that your prospective plan is suitable for your individual requirements.

To make sure that your pension covers you for your retirement lifestyle you would be wise to seek advice from a financial consultant who specialises in retirement planning. It is essential that you explore all avenues available so that you can live comfortably in your retirement years.

Further information on Fund Advisers please visit  www.fund-advisers.com

Fund Advisers Dubai Spencer Lodge

Spencer Lodge is Managing Director at Dubai based Fund Advisers, one of the leading independent financial services company in the United Arab Emirates. A self confessed workaholic, he has been operating at the very top of the international financial industry for over 18 years working for such organisations as the deVere Group and deVere and Partners.

We caught up with him to ask When is the Best Time to Start Planning For Your Retirement?

They say the best time to plant a tree is ten years ago, and the second best is right now. However young you are it is important to understand the negative impact that not planning properly for your retirement will have on you and your family. Even if you have just started your working life, it is essential to start thinking about making regular contributions to set you up for the future. The younger you start to contribute to your pension, the more opportunity you will have to secure yourself an enjoyable retirement.Unfortunately for those starting out in their career now, their retirement outlook looks bleak. They could be facing an uncertain future relying on company pensions instead of taking steps for themselves to secure a sizeable personal pension. As a result of the global downturn many pension schemes have huge deficits, meaning that a number of companies are closing final salary schemes and even the majority of existing schemes have major solvency issues.

It pays to start thinking about your retirement options as soon as possible to ensure that you have enough to live on when you start drawing your pension. For example, if a 25 year old and a 35 year old started saving towards retirement with the aim to retire at 55, the 25 year old could invest £300 a month, while to create the same return, the 35 year old would have to save £803 a month. You may feel that your retirement is a long way off and that you do not really need to think about it just yet. However, if you look at your pension in terms of how many pay days remain until your retirement at 55, you will see that you do not have long remaining to save an adequate amount.

About Fund Advisers

Fund Advisers is a large independent financial consultancy group with global operations. We work with international investors and expatriates to find financial services products that best suit their medium to long-term requirements for investments, savings and pensions. With in excess of US $2 billion of funds under administration and management, Fund Advisers has more than six thousand clients in twenty countries. Our independence and ability to offer financial products that are tailor-made to fit an individual’s needs are behind our success, and our work ethic is without equal in the industry

As a result we now have offices in over six countries. You can find us in Abu Dhabi, Geneva, Johannesburg, Dubai, London, Brussels and Moscow among others.