Advice on pensions and retirement planning after years living overseas

[Mixymaxymoxy]

Not sure where to post this so trying here.

DH and I are British (Scottish). We left Scotland in 2003, shortly after getting married. We’ve lived in several countries, worked for many employers (state and private), had time out for kids (me). We were 57 and 54 now, and tbh our pensions / retirement plans are an absolute mess. There are loads of complicating factors and while we aren’t short of assets, we are in an unusual situation.

If you have lived / worked overseas, how have you tackled the task of bringing all your different employments / pension pots etc together? Our assets are mostly in the UK, DHs pension is mostly in France. We rent, we still have to get one child though school and potential uni costs. We really need some advice on pulling a plan together - but not sure who ask? We aren’t even sure if we want to stay in France in later life, return to the UK or do something else entirely!

Quite honestly you need expert advice on this issue from a financial adviser.

I agree you need a professional that understands the tax regimes of all countries that can tax your assets and income.

Only thing I can add is, did you pay voluntary NICs for UK state pension while abroad? You should check your pension entitlement.

I am retired and live abroad & have found this company very good.

https://spectrum-ifa.com/

Lived and worked in USA, Switzerland and France. We retired back to UK as our families are here. Pensions come in from Switzerland but are fixed (no increase with inflation) and we get full UK pensions as we paid our NI contributions. We have learned to choose which bank to have the payments from abroad paid into as some banks charge far more than others and it can make quite a difference. We took some of our pensions as a lump sum as that could be invested and will grow and the annuities don't. But as has been said, it can be complicated so get advice.

As far as France is concerned, I contacted my pension provider directly. They have now sent a P5000 letter to the UK to verify my years of stamp there. I don't have enough years in France to count as fully paid up (in fact I don't even have the minimum to be eligible for a payout) but when my UK years are verified, I should then be entitled to a pension for the years of cotisations I've paid here because my employment years across the two countries add up to full contribution. That is my understanding at least.
My pension provider has been very helpful and responsive. I'm a few years off retirement yet, but I wanted to get it sorted so I know exactly where I stand.