Internationally mobile corporate employees or the independent self-employed have special needs.
In the case of corporate employees, there is always a risk that your state and corporate pension will be less than you would have received by staying at home working in one country.
Some companies recognise this and offer a non-contributory additional plan sometimes called a third country national (TCN) scheme. However, if it is non-contributory, loss of the job usually means that you lose most of the benefit too, since you have made no contributions of your own. If you are in this situation we can advise you how to protect yourself.
Therefore, all your investment and insurance programmes must be reviewed to take into account the potential taxes and rules not only of where you are living now but also where you expect to be living in the future, with special attention to where you expect to be when the policies mature.
If you are self-employed working on a series of contracts in successive countries, such as a computer or telecommunications contractor, your situation can become very difficult. Local employees may well perceive your gross earnings as being excessive compared with their own. However, their pension contributions are tax deductible whereas you will usually have to make them out of income that has already been taxed at the highest rates. Furthermore, you can no longer deduct contributions to a scheme in your home country while you are a non-resident. There is no easy way to contribute to a scheme in your host country either, if your stay will be short.
We can offer solutions to this problem.