Clear information for financial decisions that cross borders, life stages and jurisdictions.

Moving country does not automatically mean that existing investments need to be changed. It can, however, change the context in which they are held. 

Your new residence may affect taxation, product or account availability, reporting obligations and the relevance of particular investment structures. Currency exposure may also become more important if your assets and future spending are denominated differently. 

Before making changes, it is useful to establish what you own, the purpose of each investment and how your existing arrangements fit your circumstances after the move. 

That depends on the type of pension and the countries involved. 

An international career can leave you with state, workplace and private pension rights in several jurisdictions. EU social-security coordination provides a framework for certain state pension rights accumulated across Member States, but it does not turn separate national pensions into a single pension. 

Private and workplace pensions have their own rules, benefits, costs and tax considerations. These should be understood before transferring, consolidating or otherwise changing an existing arrangement. 

Begin with the lifestyle you expect to fund and where you expect to live. 

Then consider the resources available to support it, including pensions, investments, property, cash and other income. For an international retirement, it can also be important to consider where those assets are held, the currencies involved and the tax and estate-planning implications of your intended country of residence. 

Cash-flow modelling can help test different retirement dates, spending assumptions and income strategies. The results are projections rather than guarantees, but they can make the financial trade-offs easier to understand. 

The scope depends on your circumstances, but a cross-border plan may consider: 

• your countries of residence and financial connection 
• income and expenditure 
• investments 
• pensions and retirement assets 
• cash and banking 
• property 
• liabilities 
• insurance and protection 
• business interests 
• family circumstances 
• estate and succession arrangements 
• currencies 
• future relocation plans 

The important point is to understand the connections between these areas rather than treating each country or asset separately. 

Tax residence can influence how income, investments, pensions and other assets are taxed, but the rules differ between countries. 

There is no single EU-wide set of rules determining an individual's tax residence or personal income taxation. Domestic legislation and, where relevant, bilateral tax treaties can both matter. 

Financial planning can identify where tax affects a decision, but determining an individual's tax position may require advice from an appropriately qualified tax professional in the relevant jurisdiction.

Not necessarily. 

Cross-border estate planning depends on factors including where you live, where assets are located, your nationality and the jurisdictions involved. In some circumstances, coordinated wills in more than one country may be appropriate. In others, a different approach may be preferable. 

Because wills can interact across jurisdictions, they should not be created or amended independently without considering the wider estate plan. Specialist legal advice is important before deciding on the appropriate structure.

Currency exposure should be considered in relation to the purpose of the money. 

If your assets are held in one currency but future expenditure will be in another, exchange-rate movements can affect what those assets are worth in terms of your future spending. 

That does not mean every currency exposure should be removed. The appropriate approach depends on your objectives, timeframe, assets, liabilities and expected future expenditure. 

Start with the existing pension rather than the proposed replacement. 

Important considerations can include the benefits you already have, guarantees, investment options, charges, access rules, death benefits and any penalties or restrictions associated with changing the arrangement. 

You can then compare those features with the proposed alternative and consider the tax and regulatory implications in the relevant countries. 

A transfer or consolidation can involve giving up valuable benefits and may not be appropriate simply because managing one pension appears easier than managing several. 

It can be useful when a financial decision involves more than one country or when several international arrangements need to be considered together. 

Common points for seeking advice include moving country, approaching retirement, reviewing overseas pensions, receiving an inheritance, selling a business, reorganising investments or trying to bring financial arrangements accumulated in several countries into one plan. 

You do not need to resolve every technical question yourself before seeking advice. Establishing which questions matter is often part of the planning process.