If you believe the recent press, then tens of thousands of Britons who live in Europe are to be stripped of their UK bank accounts and credit cards within weeks, because the government has failed to negotiate post-Brexit rules.
It is true that a number of British banks have started to write to expatriates warning them of the possible removal of facilities after the withdrawal agreement ends on 31st December 2020.
Fortunately, Unity Financial Partners have a comprehensive understanding of the Sterling Clearing System for Italian residents including which UK banks will be able to continue servicing the expat community in Italy, irrespective of what type of Brexit transpires.
A further concern which can be allayed, is the matter of UK pensions for those about to, or are already living in Italy. Many expats are now finding that their ability to access pension funds is being restricted once they take up Italian residency. This problem is set to intensify with Brexit and combines uncomfortably with the new warnings from the banks.
Again, Unity have already foreseen and navigated through these issues and are already able to steer clients towards fully compliant, UK compatible and UK bank-friendly solutions.
Now is the time to re-look at your UK pensions, and where necessary take the right steps to protect your position regarding access, currency and flexibility.
Unity Financial Partners is regulated in Italy by IVASS, the Italian insurance and pensions regulator as well as in the UK by the FCA offering a transparency of service often woefully lacking in the international pensions arena.
Dominic Scoffield
Chartered Financial Planner
Unity Financial Partners
If you are interested in finding out more about how Dominic and our team at britishinitaly.com can help you with your retirement planning needs as a resident of Italy please contact us on the following link:
https://www.britishinitaly.com/contact-us or send an email to [email protected]
