Brits to receive free pension payment tips

Potential UK emigrants may soon receive advice regarding money transfers to pension schemes.

Investment provider Scottish Widows recently revealed it is teaming up with the Institute of Financial Planning to offer retirement savings advice to Brits.

The partnership follows research by the investment firm that revealed 75 per cent of those living in the UK would like their employers to offer advice on pension scheme options.

Now the companies are arranging to enter workplaces to hold free seminars on payment plans, which may interest Brits planning money transfers to fund their overseas retirement.

John Taylor, corporate pensions market director from the investment firm, said: "We hope to advise on how employees should be managing their finances better so that they can plan for their futures."

Meanwhile, US president Barack Obama recently spoke of his support for the country's improved pension system that automatically places employees' wages in retirement funds.

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By John Mills