Free movement within the European Union and budget airlines have paved the way for more and more pensioners to retire overseas. Many use their high street banks for the pension transfer arrangements, yet this is often considered a poor choice as the high street banks transfer the pension funds at whatever the rate of exchange is on the day.
Retiring to sunnier climates is a long-favoured dream realised by more and more of us. However, there is much to consider before retiring overseas, one of the most important being your financial arrangements.
Pension income regularly transferred from the UK to your new country is a common aspect of retirement overseas. However, currency market volatility can significantly affect the final amount you receive. In the last year, we have seen currency market fluctuations of up to ten percent within just a couple of weeks.
Hawk FX currency solutions allow retirees to lock in the exchange rate for up to two years, providing certainty on the pension amount received each month.
I have just transferred my business to here……they have been outstanding in setting up my regular monthly currency transfer from pounds to euros. First class service. Always helpful and enthusiastic…..it was quick, efficient and without hassle. Highly recommended.*
Mrs Patel, Leicester
*While the described experiences are typical, results may vary from those described in these testimonials.
Working out what is the best way to make an international money transfer can be daunting – industry jargon, keeping up-to-date with what’s impacting or likely to influence currency markets, and do not forget regulations and country laws.
Our Currency Experts would be pleased to help you with any questions. To speak to a Currency Expert – contact us.
