Have you worked in the UK or Ireland? Did you pay into a pension? If so, then you may be able to benefit by transferring your pension into a SIPP. A Self-Invested Personal Pension (SIPP) is a UK-registered pension scheme established as a personal arrangement. Compared to the standard UK pension schemes, a SIPP offers greater choice in investments, and additional flexibility at retirement. Individuals residing in the UK can make new tax-relieved pension contributions to the scheme or transfer in an existing pension arrangement.
UK non-residents would establish a SIPP to take control over an existing pension arranged in the UK or elsewhere. SIPPs provide a convenient and flexible way to save for retirement. While most UK non-residents say they will not return, in reality many do for career or personal reasons. This scheme has proven to be highly beneficial for many UK pension holders. Through it, you may be able to secure a bigger tax free lump sum and also reduce the percentage of tax you pay on your income and estate.
Meet with one of our consultants to see if you could benefit from transferring your pension