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I originally came from the UK and have been in Dubai for 2 years now. I didn't have a pension in the UK and since moving to Dubai I have been saving money.

Now I think I need to start looking at a pension for when I grow old and wrinkly. Does anybody have any advice on what I should do and where I should look. I plan to be in Dubai for a few more years yet and may not return to the UK, but may go somewhere else.

Was anyone else in the same position? If so what type of pension do you have?

I have a UK pension, although I don't pay much into it. I've still got my endowment policy from my old house which I'm kinda using as a pension too.

Best bet, bung your savings in a high interest rate account off-shore.

hi there,
A few suggestions/ comments. Watch out what policies you take.
I got my finger burnt a while back, i took out two policies also under the impression that i would stay in the UAE indefinitely. as the earnings are tax free it is quiet easy to service the payments (in my case the payments were in dollars), the crunch came when i left the UAE and decided to en-cash the policies as there was no way for me to continue servicing them on my new salary (with tax and exchange rate factored in). Ultimately I got out between 25 and 30% of what i had paid in, because of the penalty clauses. Absolute waste of time and of course my money. I would have been better off investing the cash every month with a stock broker with a mixed portfolio (suggest Isle of Man or similar). Another thing to possibly look at would be investments in retirement annuities in your home country, most governments offer tax benefits on these provisions even if you are non-resident.

Of course I have no one else to blame but myself, but it’s easy to see the temporary benefits of working in the UAE (in hindsight) - just remember they are temporary.

I'm not sure if there is such a thing in the UK but in the US we have IRAs (Traditional and Roth). There is a maximum limit you can contribute yearly. All major broker firms offer it e-g Fidelity, T Rowe Price etc. I will make sure me and my wife take full advantage of it and contribute the maximum.

Yeah i think we should think about having an insurance and looking at a pension for some good important reasons in our life like growing old and need some income for the rest of our life.

I can help anybody looking to save or transfer there frozen pension in the uk . I also deal with tax free savings, opening off shore accounts, childrens education anything related to investments in DUBAI. Just Call ask for James thanks

Chocoholic wrote:I have a UK pension, although I don't pay much into it. I've still got my endowment policy from my old house which I'm kinda using as a pension too.

Best bet, bung your savings in a high interest rate account off-shore.

I can help you too chocoholic on your pension in the UK or getting the best out of your savings here give me a bell on for some impartial free advice .