Enquiry line: +44 207 998 0570
enquiries@fwm.gi
Available 9:00am - 5:30pm (CET)

International SIPP

 BACK

Pension Advice for British Expats Abroad

An International SIPP (self-invested personal pension) is effectively a UK pension designed for non-UK residents that enables an individual to carry out pension transfers and consolidate their pensions in the UK, while still offering protection under UK regulations. This pension plan offers considerable flexibility and a greater range of pension options when it comes to investment decisions, withdrawals and currency choice.

It’s an attractive pension option for UK expats who wish to retain a similar UK pensions structure to their existing UK pensions but require these to be more suitable for expat life outside the UK.

The key benefits of an International SIPP are as follows:

 

  • The ability to efficiently transfer your UK pension or consolidate multiple UK pensions accrued over your working life. The latter can reduce administrative complexities as it can be challenging to manage your UK pensions from several different providers. You can transfer most private and company pensions into an International SIPP, with very few exceptions.

 

  • Income from an International SIPP can be paid in your currency of choice. This is ideal for expats as it ensures you can align your currency choice with your country of residence, and select the currency you will be spending in retirement.

 

  • A wide range of investment choices in multiple currencies. This makes an international SIPP more suitable for a non-UK resident, as fund choices for domestic SIPPs will be more centred on the UK and denominated in Sterling.

 

  • Compliant with UK regulatory requirements as International SIPPs are regulated by the UK Financial Conduct Authority (FCA). This makes this suitable for UK expats, who for whatever reason, need to maintain a UK pensions arrangement which affords protection of UK regulation.

 

  • Flexi access drawdown: An individual can coordinate withdrawals with other income streams and plan to limit income that is taxable in certain tax years. This offers greater control over the level of taxable income in each tax year.

 

  • An International SIPP is portable pension plan if you return to the UK, offering valuable flexibility for those UK expats who want to retain the option of returning home at some point in their retirement.

 

  • There is no taxation on the assets held within your International SIPP until you draw income. Treatment of income for tax purposes will be dependent on where you are tax resident. It is important you receive pension advice from pension advisors who understand the key elements of cross border retirement planning.

Talk to Us

Speak directly to pension advisors about your pension options and retirement planning requirements.

For pension advice please contact us on Tel: +44 207 998 0570 or email enquiries@fwm.gi