Under what conditions should I consider transferring my pension offshore? Will you ever return to the UK in retirement and become a resident? If the answer is yes, then you should not consider transferring you pension offshore. However, if you will be retiring abroad, even if it is still a little way off, you may […]
I live abroad, but don’t know what I’m entitled to regarding the state pension. Do I qualify for a British State Pension? A British state pension is afforded to those who have paid in the required amount of National Insurance during their lifetime no matter where they live. You may also be eligible to pension […]
I’m evaluating my retirement plans and I am considering opening a SIPP, but what are they and are they suitable for me? A SIPP is a self-invested personal pension and is designed for people who want more control over the funds held within their pension. SIPPs typically offer a wider range of investment options than […]
I have a UK pension and live abroad. I was wondering, what is a QROPS scheme exactly? A QROPS is a Qualifying Recognised Overseas Pension Scheme. For an overseas scheme to be deemed as such, it must satisfy criteria stipulated by HMRC. A QROPS is run by a trustee or trustees in a jurisdiction outside […]
I’ve recently discovered that expats could be eligible for a QROPS, but what does “QROPS” mean? QROPS stands for “Qualifying Recognised Overseas Pension Scheme”. A QROPS is a pension scheme which is not based in the UK, but meets specific criteria set by the HMRC in the UK. If you live abroad and wish to […]
I believe the UK State Pension payment has recently changed. How much is the UK State Pension per week? The full new State Pension is £155.65 per week. However, the amount of UK State Pension you will receive will depend on three factors. Firstly, when you were born; secondly, where you live and; finally, how […]
I have previously lived in the UK and paid into a UK pension, however, I have moved to Australia and want to know: can I transfer my UK pension to Australia? Yes, it is possible to transfer your UK pension funds to an Australian pension scheme. However, please be aware that under no circumstances can […]
I have a UK based private pension, but can I transfer my pension elsewhere? Yes. But whether should or not is a different matter. Transferring your UK pension abroad is generally only advisable if you are absolutely sure that you do not want to return to the UK. If you might become a UK resident […]