Has anyone transferred his/her pension to Malta?

Thanks @Dave Vanian - that's exactly it.

What I'd like to know is how did people who did this get on, etc.

The point being that it seems to have many advantages:

- for sure........higher lump sum, greater flexibility
- possibly.......benefits for those otherwise impacted by the 200k cap?

It would seem to me that if the drawbacks are minimal then it's, at the very least an option, worth considering.
@Dave Vanian - I'd be very interested in learning whether you present this an option to your clients?
 
Marc used to talk about Malta. Something about being non-domiciled but I forget the details as it want's my bag.
 
Thanks time to plan,

I have seen the earlier thread that you contributed to along with Marc and others. I must admit that that thread doesn't shed sufficient light for me to consider actioning this - i.e. I'd need more comfort/info. Hence, my original question.

Thinking about this again, it would be nice for advisers generally to say whether or not they present this as an option to their clients and why they believe it is is ok/not ok to do so.
 
you mention advantages of the Maltese pension. they all seem to be tax advantages which would would fall foul of the main revenue rule on overseas transfers. Are you planning on retiring abroad? general consensus is that this is only scenario that meets revenue rules
 
Oisin19 said:
you mention advantages of the Maltese pension. they all seem to be tax advantages
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Not true Oisin! - One of the key advantages mentioned was flexibility - there is loads of credible material to support the argument that 4% is not a Safe Withdrawal Rate. Another, not previously mentioned, argument could be made for diversification. But, hey, I'm not the expert here.....I'm trying to get info from people who have done it or who give advice in this area.........lots of posts to date but no meaningful commentary from either of these 2 groups.
 
jasdpace@gmail. said:
@Dave Vanian - I'd be very interested in learning whether you present this an option to your clients?
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Personally, no I don't advise clients to move their funds to another country to avail of different retirement rules in that country. I only give advice about products and pensions legislation that I am qualified and experienced to offer advice on - here in Ireland.
 
Thanks Dave - that's fair enough and I appreciate your candour. I suspect that the majority of advisers behave similarly.

Just to elaborate on my perspective - I think that there must be a reasonable number of people who could benefit from understanding the merits of thinking beyond these shores - like people who wish to retire abroad or people with a non-Irish partner, or people who just wish to consider their broad options, etc. I honestly don't know how you can genuinely "advise" such people if you are unclear of what their true options are. Yes - you can arrange an ARF in Ireland for them but how can you be in any way confident that an ARF in Ireland is - within reason - the best approach?
 
jasdpace@gmail. said:
Just to elaborate on my perspective - I think that there must be a reasonable number of people who could benefit from understanding the merits of thinking beyond these shores - like people who wish to retire abroad or people with a non-Irish partner, etc. I honestly don't know how you can genuinely "advise" such people if you are unclear of what their true options are. Yes - you can arrange an ARF in Ireland for them but how can you be in any way confident that an ARF in Ireland is - within reason - the best approach?
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At any given time there are probably thousands of pension and/or investment opportunities available around the world that in theory could benefit people in Ireland. I have lived and worked in Ireland all my life. I am qualified and experienced to offer advice on Irish legislation and products. I know how the system works here. I don't hold myself out to be an expert on pensions legislation or products in other countries and my clients are aware from the outset that I offer advice on Irish pension products and legislation only.
 
jasdpace@gmail. said:
Thanks Dave - that's fair enough and I appreciate your candour. I suspect that the majority of advisers behave similarly.

Just to elaborate on my perspective - I think that there must be a reasonable number of people who could benefit from understanding the merits of thinking beyond these shores - like people who wish to retire abroad or people with a non-Irish partner, or people who just wish to consider their broad options, etc. I honestly don't know how you can genuinely "advise" such people if you are unclear of what their true options are. Yes - you can arrange an ARF in Ireland for them but how can you be in any way confident that an ARF in Ireland is - within reason - the best approach?
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Way to go seeking advice by impugning the knowledge of someone who provides excellent advice on what they know, not what they don't know.
If I were Dave I'd been even more candid the next time!
How did you hear about the Maltese system? Why not ask those proposing it?
 
Dave - as I said, I understand your position. I am not questioning your expertise on Irish pension products and legislation.

What I am saying is that I suspect that there is a cohort of people, as set out above, who might reasonably benefit from options beyond these shores. So my point is, in respect of these people, I cannot see how an adviser can be reasonably confident that a proposed course of action is best without a broader level of knowledge. Can you see my point, Dave?
 
jasdpace@gmail. said:
Dave - as I said, I understand your position. I am not questioning your expertise on Irish pension products and legislation.

What I am saying is that I suspect that there is a cohort of people, as set out above, who might reasonably benefit from options beyond these shores. So my point is, in respect of these people, I cannot see how an adviser can be reasonably confident that a proposed course of action is best without a broader level of knowledge. Can you see my point, Dave?
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I understand your point. It's impractical. Do you think Irish advisers should keep abreast of all pension and investment legislation and all financial products and investment opportunities in all countries at all times including all updates, in case some country somewhere introduces something that might be of benefit to some Irish clients?
 
I believe that the approach you are describing is not the best approach for certain cohorts of clients. I will not repeat this point again. You are free to hold a different view.
 
I ask you again. Do you think Irish advisers should keep abreast of all pension and investment legislation and all financial products and investment opportunities in all countries at all times including all updates, in case some country somewhere introduces something that might be of benefit to some Irish clients?
 
I am not going down rabbit holes with you. The way you're angling your last few posts it's as if you think that I'm arguing that all advisers should know all details of all countries at all times. Give me a break. I believe that you are, understandably, taking a defensive position. Please don't ask any more questions, this dialogue is a waste of my time.
 
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Dave Vanian said:
I ask you again. Do you think Irish advisers should keep abreast of all pension and investment legislation and all financial products and investment opportunities in all countries at all times including all updates, in case some country somewhere introduces something that might be of benefit to some Irish clients?
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Just the tax havens would be sufficient ;)

deanpark said:
It has to be for a fund of over €100,000 or the technical term is cèad mile Malta.
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Underrated post :D
 
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