International Pension
Transfer

As a UK expat, you can transfer previous and existing UK personal and employer pension schemes into an Offshore QROPS or QNUPS

As a UK expat, you can transfer previous and existing UK personal and employer pension schemes into an Offshore QROPS (a pension scheme established outside the UK) or an International SIPP (Self Invested Personal Pension).

You can also place assets into a QNUPS, a form of overseas Trust that qualifies as a pension for UK tax purposes.

One of the greatest benefits of transferring to these overseas pension schemes is reduced tax liability. However, it’s best to speak with a financial planner who can explain in greater detail and outline the benefits and drawbacks of each option

As with any financial decision, there are risks and costs associated with pension transfers.

One of the key considerations to make when considering transferring your pension offshore is where you plan to retire. This choice can have an impact on your choice of pension scheme and affect things like tax and choice of currency.

While there are potential tax benefits to transferring your pension overseas, there are also tax and financial risks. If you receive the incorrect advice, you risk deriving zero benefits from your international pension transfer.

That is why we strongly encourage you to seek specialist transfer advice before making a decision about moving your pension(s).