Login

Please login here

Registration

Register to continue to view the articles on LawInSport if you do not have a login. Its free and takes less than a minute to complete

UNDERSTAND THE RULES OF THE GAME

The lifecycle of an international athlete: Part 5 - Important pension considerations

Published 04 October 2017 | Authored by: Clare Coley

This is the fifth in Penningtons Manches’ series of blogs addressing the key legal issues that international athletes and their advisors should consider before coming to work in the UK. 

Pensions expert Clare Coley looks at the importance of pensions savings.  This is in the context of professional athletes having a relatively short career and therefore needing to manage their finances carefully in order to provide for a future after retirement from professional sport.

Athletes coming to the UK from abroad should actively consider their options for pension saving in this country, prior to moving here. With the recent changes (see below), pensions should be regarded as part of their overall wealth management and savings strategies.  There is a lot to play for!

This information is directed chiefly at those who will have long-term stays in the UK (e.g. footballers staying under a five-year contract).  For shorter visits, pension savings may not be particularly lucrative but may still generate some retirement benefits (and may be automatic). 

Pensions are a highly complicated area and there are many important issues to consider.  This article considers:

  • What sort of pension arrangements are available in the UK?

  • What if I already have pension savings because I have worked in the UK before?
    • Is there a pension scheme for football clubs?
    • Is there a pension scheme for cricket clubs?
    • Is there a pension scheme for rugby players?

  • When, under whatever pension scheme I join, can I take my benefits?

  • Where can I go to take further advice?

...to continue reading register here for free

 

LawInSport is an independent publisher used by sports lawyers, sports business executives and administrators, athletes and support personnel, academics and students to stay informed of the latest legal issues and developments from the world of sport. It is our mission to improve the accountability, transparency and standard of the administration and governance of sport and the understanding of the law.

Thank you for considering becoming a member of LawInSport, supporting independent media and the promotion well researched, reference and accessible legal information that contributes to greater transparency and accountability in the sport and legal sectors.

 


 

Related Articles

About the Author

Clare Coley

Clare Coley

Clare, a senior associate in Penningtons Manches’ pensions team, specialises in contentious and non-contentious employment matters with an emphasis on claims prevention. She is a member of the Association of Pensions Lawyers and the Employment Lawyers Association and has been noted as ‘one to watch’ in Chambers UK.

Clare provides advice to sports professionals for their typically shorter careers and guidance for pension saving and retirement plans.

Leave a comment

Please login to leave a comment.

LiS logo horizontal tm WHT