Release Your UK Pensions

On the 6th April 2006, some of the most significant reforms we have seen in over fifty years were introduced to the UK pension system. The changes were made to make UK pensions simpler to understand and more importantly to make them more beneficial for people to take control over their own personal pension provisions. As the average age of the UK population increases and due to medical and scientific advances, we are living longer, so putting more of a strain on the standard pension provisions that have been established by the UK Government.

It is not uncommon for people that have worked in the UK before moving abroad to have more than one ‘frozen’ pension. They may have been paying into their own personal pension scheme or schemes and also have additional Company plans from their previous employers. On leaving the UK and taking up residency elsewhere in the world, depending on what kinds of pensions you have, it is now possible to ‘move’ your existing pension provisions out of the UK, amalgamate them into one more manageable ‘pot’ and give you control and freedom over where your money is held.

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Expatriate Financial Advice have advised many expats on the benefits and also potential drawbacks of transferring their UK pensions ‘offshore’ and are specialists in giving advice to help you establish either International SIPPs (Self Invested Personal Pensions) or Qualifying Recognised Overseas Pension Schemes (QROPS).

The decision to ‘stay as you are’, move to a SIPP or a UK Government approved QROPS is a purely individual one and must be based entirely by taking into consideration many differing factors. Expatriate Financial Advice along with it's business partners, will guide you through your differing options and help you make an informed decision on the best course of action for your UK pensions.

Whether you are considering your first pension, or if you are one of the rapidly-growing number of expatriates who are interested in finding out what benefits may be applicable to you, should you decide to transfer your current UK pension arrangements offshore (QROPS), you need unbiased, expert advice to help you make those informed finncial decisions.

For an overview of the benefits of establishing either an International SIPP or QROPS please click on the appropriate link on the left of this page.

To arrange a no obligation, expert review of your current pension arrangements and to assess your suitability for a SIPP or QROPS, please contact us.