Freedom of the City of London was first recorded in the year 1237 as the highest honour the City can bestow on any person.
The vast majority of City Freemen were represented by a broad cross-section of the population.
Whilst a Freeman no longer enjoys rights or privileges of the pre-mid 19thcentury, when transferring your South African retirement annuity or pension monies to your new home country, expats stand to derive significant personal privileges, not least of which financial peace of mind.
The benefit in moving your pension investment to a bank near you needs little explaining or convincing. The most relevant requirement lies in the understanding that it is possible to transfer a pension investment offshore, irrespective of age. No need to wait for the retirement clock to strike 55 to transfer your pension – it’s your money and your right to do with as you see fit.
Understandably you’ll have to comply with rules and regulations but that’s life! Your retirement annuity was designed to provide an income when you stop earning a monthly salary – hence the reason for conditions, but all possible!
The decision to surrender and transfer your personal pension or retirement annuity is yours. All that is required of you is to follow due procedure where after you’ll be free to invest in the UK to be in control of your investment returns.
The confidence and knowledge that your future and investments are consolidated in the country where you’ve chosen to live do not present Freedom of the City. It does however provide financial freedom.
finglobal.com is an authorised South African financial services provider. FSP #42872. The company has assisted more than 3000 expats living in 75 countries to successfully transfer their South African pensions offshore. For more information: www.finglobal.com