South Africa
Leslie: mid 50s, married, two children, legal assistant
Leslie moved to SA in 1975 after working for six years in the UK after leaving University. She married a South African and raised their children in Cape Town. She worked for the same company in South Africa for over 25 years.
All of her assets were in SA and were all Rand based, so it came as a nice surprise when we told her that the six years she spent in the UK in the 70’s meant she had accumulated a pension in excess of £100k. Having that extra retirement income meant that she could do more things in retirement, and that she was not fully dependant on the Rand assets she had accumulated.
Richard: mid 60s, married, two children, director
Richard worked as a Director at KPMG in London for over 25 years. He planned to work for a few years in Cape Town and then retire. He had planned well for his retirement, with around a £1m between his company and private pensions.
He aimed to leave his estate to his young children, without the stiff UK death taxes depleting their inheritance.
As he was very familiar with the tax laws in the UK, he was looking to move his pension out of the UK. His biggest concern was how he would go about the transfer, as he was aware that there were thousands of options available to him, but choosing the right one was crucial, and that is where we helped.
