Three ways retirement in UAE will change beyond recognition
By Will Grahame-Clarke, 10 Oct 17
Retirement in the sunny UAE looks set to change beyond recognition according to research by Old Mutual International and Quilter Cheviot.
The research found that 64% of expats working in the UAE plan to return to their home country when they retire. This highlights the need for expats to choose savings and investment solutions which are suitable and portable back to their home country.
A breakdown of the data shows that 75% of North American expats plan to return to America when they retire, 62% of European (excluding UK) expats plan to return to Europe when they retire, and 52% of UK expats plan to return to the UK when they retire.
9% of expats plan to remain in the UAE when they retire. This contradicts the belief that all expats leave the UAE once they hit retirement. There are strict rules in place for expats regarding their ability to retire in the region, with some property and business owners perhaps looking to receive residency status.
16% of expats plan to retire somewhere other than their home country or the UAE, with 11% not sure yet where they will retire.
Evans comments: “The research shows just how many expats plan to retire back to their home country and highlights the importance of having a portable investment solution available for them. For UK expats, our new Wealth Portfolio is a great example.”
