UK SIPP & Pension Transfers

UK SIPP

If you have worked abroad in the UK or Ireland, you can transfer the pension you have received, into a UK-registered Self-Invested Personal Pension scheme (UK SIPP). SIPPs are personal pension schemes that give you complete freedom on how and where you choose to invest your money for your retirement savings. Especially suitable for those who would like to have control over their investment decisions, SIPPs give you visibility on how your investments are doing and allow you to make changes to your pension pot as and when you want to.

The key factor that differentiates the UK SIPP from typical pension plans is the amount of freedom you enjoy, as you are given total control over how you want to personalise your plans as well as a wider selection of investment choices to suit your personal needs and preferences. For even greater flexibility, you will also be able to access your account online, anytime and anywhere to make adjustments to your plans and investments as your needs and goals change over time.

With a SIPP scheme in place, you can also reap two major tax benefits. Firstly, you can look forward to investment growth without the levy of capital gains and income tax. Secondly, when you put money into your SIPP, you will receive government tax reliefs, which means you will get a percentage sum added in by the government. While the basic tax relief rate is 20%, this does change according to your circumstances.

For those residing in the UK, you can make new tax-relieved pension contributions to the scheme or transfer an existing pension arrangement over as well. As for non-UK residents, it would be useful to set up a SIPP to personally manage an existing pension in or outside of the UK.

Working towards your retirement isn’t about planning for the end, it’s about building a future for yourself, and your loved ones. One of the best ways to do this is by setting up a pension plan that’s been customised to suit your current finances and brings you closer to your future financial security.

A pension plan involves you or your employer regularly contributing to a pool of funds that have been set aside for your retirement, providing you with a steady source of retirement income in the form of monthly payouts.

Our advisers work with you to fully understand your financial capacities to give you the best advice and guidance. This involves how much you will be able to put towards your pension plans, the goals you aim to achieve, and any extenuating circumstances that you may be concerned about. We then offer you the best plan that’ll let you prepare for your retirement without breaking the bank.

We understand that planning for your retirement also means factoring in the needs of your loved ones, especially if they rely on you for financial support. That’s why we have pension plans that give you flexibility in restructuring your payments so that if something happens to you, your family will still be able to receive the financial benefits you’ve set aside for them.