Asset allocation before/during Retirement

Wales4rugbyWC23
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Joined: Mon Sep 16, 2019 1:30 am
Location: Fukuoka

Re: Asset allocation before/during Retirement

Post by Wales4rugbyWC23 »

torata wrote: Fri Aug 23, 2024 5:22 am
Wales4rugbyWC23 wrote: Sat Aug 17, 2024 9:22 am
RetireJapan wrote: Sat Aug 17, 2024 12:01 am

Yes, I am overdue on this one!
Just a quick Google and went with Legal & General calculator not bad annuity rates. (Biggest provider of annuities in the UK) I would take at a guess that you could get better annuity rates than in Japan. One thing I would like to know is can non-resident Brits apply for these. Already non-residents are not permitted to access high interest savings accounts- Although I am sure there is a way....
Slightly off topic, but relating directly to the question above.
I think it'll probably be quite difficult to get an annuity from the UK while tax-resident in Japan.
My wife wanted to vest her private pension in the UK into an annuity while the rates were good. When I called the various best buy annuity providers they all refused to quote as non-UK resident. Luckily her pension was with an annuity provider so they did it without complaint. It wasn't their 'best buy' rate - I guess that's because they don't have the actuarial info on people outside the UK/in Japan - but was still pretty good.
This might be why the other annuity providers refused - there's no UK post code to put into their system - or could be that old KYC = mendokusai issue.

torata
That's very useful information for future reference albeit 15-16 years away for me.

If you don't mind me asking, is your wife Japanese?
torata
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Joined: Sat Jul 01, 2023 8:32 am

Re: Asset allocation before/during Retirement

Post by torata »

Wales4rugbyWC23 wrote: Fri Aug 23, 2024 10:35 am
torata wrote: Fri Aug 23, 2024 5:22 am

Slightly off topic, but relating directly to the question above.
I think it'll probably be quite difficult to get an annuity from the UK while tax-resident in Japan.
My wife wanted to vest her private pension in the UK into an annuity while the rates were good. When I called the various best buy annuity providers they all refused to quote as non-UK resident. Luckily her pension was with an annuity provider so they did it without complaint. It wasn't their 'best buy' rate - I guess that's because they don't have the actuarial info on people outside the UK/in Japan - but was still pretty good.
This might be why the other annuity providers refused - there's no UK post code to put into their system - or could be that old KYC = mendokusai issue.

torata
That's very useful information for future reference albeit 15-16 years away for me.

If you don't mind me asking, is your wife Japanese?
Yes, but that was never mentioned. The response was always, 'we don't provide annuities for non-UK tax residents'.
I didn't though bother to check with any annuity brokers.

torata
cru42
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Joined: Sun Oct 23, 2022 2:39 pm

Re: Asset allocation before/during Retirement

Post by cru42 »

This is the same message I was given in writing by a leading UK pensions and investment provider.
The only option given was to cash out my DC pension started with them long ago.
I hold a UK passport and have Japanese PR.
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