Looking to Transfer a UK Private Pension?
We can help you to understand your options
UK Pension Transfers
The UK's pension law is constantly changing. Defined Benefit Schemes (also known as Final Salary Schemes) and Defined Contribution Schemes (also known as Money Purchase Schemes), are the two options.
Defined benefits are generally the Gold Standard, as they provide guaranteed retirement. However, they have had issues in recent years due to employers not being able to fund them. Defined contribution plans don't offer the same guarantees. They rely solely on the contributions, investment returns by the fund, and annuity.
We can help you if you're moving or living abroad, and you have questions about the benefits of transferring your UK pension to a SIPP or QROPS. This will allow you to move your pension wherever you like, and give you the flexibility to use it as you wish.
Talk to us, and we'll help you determine if a transfer is the right choice for your personal circumstances.
Expat Pensions with Synergi Europe
Synergi Europe is your trusted partner when it comes to securing your financial future as an expatriate. As a fee-based financial advisory firm, we specialise in providing independent and personalised financial advice to our clients residing in the EU. With our team of fully qualified advisers who possess extensive experience in the financial services sector, we understand the unique challenges and opportunities that expatriates face.
Our expertise lies in wealth creation, wealth management, and pension and retirement planning, making us well-equipped to guide you towards a prosperous and worry-free future. As a fully regulated company, we ensure compliance and transparency, and we collaborate with renowned product providers, giving you access to a comprehensive range of client solutions. Trust Synergi Europe to navigate the complexities of expat pensions and secure your financial well-being.
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The information on this website is subject to the UK regulatory regime and is therefore targeted at consumers in the UK.
Synergi Europe is the trading name of Synergi Insurance Advisors, Agents & Sub-Agents Ltd, licensed and regulated by the Cyprus Insurance Companies Control Service (ICCS) with Licence number: 5505.
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QROPS vs International SIPPs
- SIPPs – Self-Invested Personal Pensions
- QROPS – Qualifying Recognised Overseas Pension Schemes
It can be hard to understand your international pension benefits. Not to mention legislative changes creating both opportunities and threats to your existing pensions.
A SIPP is a UK-based private pension that offers more flexibility, transparency, and functionality. It is a UK-based plan and will continue to provide the same benefits and drawbacks as UK legislation, regardless of whether you live in the UK or abroad.
A QROPs is an international pension plan recognised by HMRC. It is authorised to accept transfers from UK pension plans. It does not need to report to HMRC during its first ten years. Also, it is not subject to any continuing UK pensions legislation. This allows it to adapt to your changing tax and financial circumstances.
We recognise the dangers of generic advice. Your future is unique and personal to you. There will be reasons why one option may be better for you. We can discuss why and what the implications are in your particular situation.
UK Pension Transfers
Download your FREE Guide to UK Pension Transfers. It explains:
- The basics of UK pension transfers
- UK pension transfer rules
- SIPPs vs QROPS
- Benefits and risks of an overseas pension transfer
- Paying overseas pension income tax
- Investment alternatives