The finance and business centers of the future may not be the traditional capitals of global dominance, according to a new report released today by PwC and the Partnership for New York City. The fourth edition of Cities of Opportunity shows that in a more virtual and mobile world, well-rounded cities with balanced economies and strong quality of life offer an attractive alternative: resilience during downturns and allure for skilled people who will build the future.
To view Multimedia News Release, go to http://multivu.prnewswire.com/mnr/pwc/45951/
QROPS - Qualifying Recognised Overseas Pension Schemes were introduced in 2006 as part of a major overhaul of Britain\'s pension framework, aimed at simplifying pension transfers to another country. New legislation was passed by the UK tax authority, HM Revenue and Customs (HMRC), in order to comply with an EU directive that pensions be free to move across Europe\'s borders. This ruling means that individuals, wishing to retire to countries such as France, Spain and Portugal can effectively take their UK pension funds with them: http://www.axis-finance.com/what-are-qrops.php
Who can apply for a QROPS?
A QROPS is specifically designed to allow anyone, not intending to retire in the UK, to transfer existing and frozen UK pension plans into a more appropriate retirement vehicle.
Individuals who are, or have been members of a UK registered pension fund and are currently living outside of the UK, or intending to leave the UK on a permanent basis, can consider transferring their retirement fund into a QROPS: http://www.axis-finance.com/qrops-living-in-France
Transfers to QROPS
The UK Government allows transfers to QROPS to be made free of UK tax. Their aim is to simplify the affairs of individuals leaving the UK on a permanent basis and to encourage them to continue saving in order to provide an income when they retire. There is no official limit to the amount of funds that may be transferred to a QROPS: http://www.axis-finance.com/qrops-France-pension-transfers
QROPS - HMRC Rules
What makes a scheme a QROPS?
In order to transfer your UK pension into a QROPS, it is necessary for the overseas pension scheme to be accepted by HMRC. The criteria outlined by HMRC for an overseas scheme to qualify as a QROPS include:
- The pension scheme must be established outside of the UK
- It must be recognised for tax purposes in the country where it is located
- It must be regulated in the country in which it is established
Age that benefits can be taken from a QROPS
The QROPS regime mirrors that of a regulated pension scheme in the UK. Benefits, including lump sum payments, from the transferred funds may not be distributed earlier than the normal retirement age of 55, if an individual has been a non-UK resident for less than five complete tax years: http://www.axis-finance.com/qrops-living-in-France-HMRC-Rules
QROPS Reporting requirements
HMRC should be notified if a payment is made within the first five tax years of a member becoming non-UK tax resident. Any benefits paid before five complete tax years of non-UK residency and not in accordance with UK Pension rules will be deemed an unauthorised payment.
The scheme manager does not have to notify HMRC if the payment is made 10 or more years after the day of the transfer that created the QROPS fund for the \'relevant member\', provided that the person is non UK resident for the duration of this period. This 10 year \'bracket\' for reporting payments took effect as of 6 April 2012.
QROPS List
When transferring your UK pension to a scheme overseas, it is important to check that the scheme meets the conditions to be a qualifying recognised overseas pension scheme (QROPS). Not all transfers to overseas or offshore schemes are QROPS transfers; it is therefore essential to verify that the scheme receiving your UK benefits is on the QROPS list published by HMRC, otherwise a transfer will be treated as a transfer to a non-qualifying overseas scheme and substantial penalties may be applied by HMRC at the time of transfer: http://www.axis-finance.com/qrops-list-living-in-France
How do I know if it is a legitimate QROPS scheme?
QROPS approved plans that agree to have their details published are listed on the HMRC website. A UK Pension administrator will confirm a QROPS listing before agreeing to a transfer. If not listed, the administrator will contact HMRC
The latest World Gold Council Gold Demand Trends report, which covers the period July-September 2013, highlights the resilience of the global gold market in what is traditionally a slower quarter for gold demand. The continued growth in consumer demand across the globe and the strength of Asian gold demand overall, reinforces the patterns first seen at the beginning of 2013, clear evidence of the self-balancing nature of the global market.
To view the Multimedia News Release, go to http://www.multivu.com/mnr/60364-world-gold-council-gold-journey-west-east-markets-balance-invest-outflows
The latest World Gold Council Gold Demand Trends report, which covers the period April-June 2013, highlights how recent falls in the gold price have generated significant increases in demand, most notably from consumers in China and India – by far the biggest markets for gold – compared with the same time last year.
To view the Multimedia News Release, go to http://www.multivu.com/mnr/60363-world-gold-council-gold-demand-trends-report-q2-2013
The latest World Gold Council Gold Demand Trends report, which reports on the period January-March 2013, shows a market driven by diverse global demand, and an appetite for owning gold jewellery that continues to grow.
To view Multimedia News Release, go to http://www.multivu.com/mnr/60362-world-gold-council-gold-demand-trends-report-q1-2013
T. Rowe Price has launched Star Banks Adventure, an online game and mobile app, as a fun way for kids to learn financial concepts that will help them manage money in the future. Our 2015 Parents, Kids & Money Survey found that three-quarters of parents and kids think that game apps are a good way to teach kids about financial matters. Star Banks Adventure, now available for download on iOS and Android devices and online at starbanksadventure.com, is designed with a tile-matching concept to reinforce financial education topics and engage kids in an epic adventure to save the galaxy from financial chaos.
To view the Multimedia News Release, go to: http://www.multivu.com/players/English/7455231-t-rowe-price-financial-education
Some say that when China sneezes the rest of the world catches cold, but the biggest luxury brands are catching on in China, becoming the most exclusive and desirable ones in fashion according to the wealthiest Chinese women. Still, our ranking also reveals a stronger competition that is accentuated by the wealthy customers’ increasingly stronger maturity. This barometer Promise Consulting / BNP Exane classifies the 15 most exclusive and desirable brands in China in the universe of feminine Fashion. This Barometer is conducted amongst the wealthiest Chinese women, and is about the 30 luxury brands in ready-to-wear/handbags/shoes/accessories that have invested the most in communication (source: Industry Interviews, Exane Paribas). Promise and BNP Exane already conducted the same survey amongst French women in May 2015 (http://bit.ly/1ESTZGu).
”This barometer in association with BNP Exane reflects our determination to move closer to the marketing and cross-section financial analysis. Our Monitoring Brand Assets® approach itself features very complementary analyzes with those conducted by BNP Exane’s experts. Hence, the obtained results from our joined barometer are based on two different angles of expertise, marketing and financial, which brings a unique added value to the managers and decision-makers in the Luxury sector. More concretely, our measure of the exclusivity of a brand takes into account the upper and more constant quality of products, the strong and unique valuation of the customer, the brand’s prestige, but also a matchless “savoir-faire” that justifies a very high price premium associated with top luxury. Finally, our measure of desirability synthesizes the dimensions of attractiveness of an intimate, social and symbolic nature, which are the strengths of exclusive brands, and characterize the particular relation that they maintain with their customers. In this respect, our Barometer synthesizes, in two proven scales, the numerous criteria to establish a ranking between the high-end brands from their customer’s point of view", states Pr. Philippe Jourdan, Promise’s CEO.
To view the multimedia release go to:
http://www.multivu.com/players/uk/7727851-exclusivity-desirability-luxury-brands/
Despite signs of economic recovery, a new survey says Americans’ confidence in their ability to afford a comfortable retirement remains at historic lows as workers appear to be grasping the realities of what they need to save.
The 2013 annual Retirement Confidence Survey, released today by the nonpartisan Employee Benefit Research Institute (EBRI) in Washington, and co-sponsored by the Principal Financial Group®, finds overall confidence levels are essentially unchanged since the record lows set in 2011. Only 13 percent are very confident they will have enough money for a comfortable retirement. A full 28 percent1— the highest number recorded during the 23 years of the survey—are not at all confident.
To view Multimedia News Release, go to http://www.multivu.com/mnr/60106-principal-financial-group-ebri-retirement-savings-confidence-survey
For families who have a dependent with special needs, financial planning often takes a back seat to the necessities of daily life; but it also bears an increased importance.
“April’s Autism Awareness Month offers a great opportunity to emphasize the importance of planning for families who are caring for a dependent child, sibling or spouse with special needs,” said Ruthann Driscoll, JD, CLU, CFP®, director of advanced planning at Northwestern Mutual. “Crafting a comprehensive plan that addresses the needs of the dependent with special needs — for today and for tomorrow — and balancing that with the needs of the rest of the family is essential to achieving lifelong financial security.”
To view the Multimedia News Release, go to http://www.multivu.com/players/English/7422151-northwestern-mutual-autism-awareness/
Northwestern Mutual will debut new, financial planning themed advertising during the January 1 broadcast of the Rose Bowl Game on ABC.
The spots, created by Olson in Minneapolis, Minn., are the latest iteration in Northwestern Mutual’s successful “Columns” campaign. Running since 2010, the ads showcase visually distinctive imagery that conveys the company’s financial strength and the importance of financial security to its current and prospective clients.
To view the Multimedia News Release, go to http://www.multivu.com/mnr/59534-northwestern-mutual-financial-planning-ad-rose-ball-game-abc
OTC Markets Group Inc. (OTCQX: OTCM) and PR Newswire were joined by the UK’s Investor Relations Society in welcoming senior investor relations professionals to the latest instalment of their successful “No Blank Screens” series. The goal of the breakfast forum was to help educate European companies with global vision about the OTCQX® Best and OTCQB® Venture Marketplaces in the US, and to provide guidance and best practice tips on effectively engaging US investors. The event was held in the historic, Grade II listed One Moorgate Place in central London on 2nd July.
To view the Multimedia News Release, please go to http://www.multivu.com/players/English/7571051-trans-atlantic-information-flow/
