Expatriates seeking re-assurance or reliable answers from
experts about UK pension, SIPPs, QROPS and QNUPS visit here

Powered by Aisa International

Pension Planning SIPPs, QROPS & QNUPS

Expat Pension Planning for Offshore Pensions

Home > Pension Planning

  • SIPPs There are many benefits of a UK Self Invested Personal Pension scheme… more
  • QROPS There are many benefits that a Qualifying Recognised Overseas Pension Scheme… more
  • QNUPS Qualifying Non UK Pension Scheme are actually a natural progression… more
  • 100% tax free benefits I want to plan how to best take my benefits from my pension… more

SIPPs versus QROPS at a glance

SIPP versus QROPS versus QNUPS / ROPS (Prior to retirement)

SIPPs QROPS QNUPS
If UK taxed, can you make tax relieved contributions?

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Epats

If not UK taxed still, can you make contributions to it?

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Can you transfer fund at death without restriction

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Can you transfer fund at death under 75 without restriction

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Contributions restricted to UK maximum levels

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Good for passing fund onto relatives at death

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

More information available on qualifying criteria? More More More

* Prior to retirement then the SIPP should be considered first,
then depending on circumstances and wealth either a QNUPS or QROPS.

SIPP versus QROPS versus QNUPS / ROPS (Post retirement)

SIPPs QROPS QNUPS
Can you take option of income or lump sum or both

UK Pensions for Expats title=

UK Pensions for Expats

UK Pensions for Expats

Income available at possibly higher levels/reduced tax

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats title=

Benefits for overseas expats better than UK options

UK Pensions for Expats title=

UK Pensions for Expats

UK Pensions for Expats

Can you transfer fund at death under 75 without restriction

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Can you transfer fund at death over 74 without restriction

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Lump Sum over 25% taxable as income in UK

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Lump Sum of 30% available outside UK tax-free

UK Penions for Expats

UK Pensions for Expats

UK Pensions for Expats

Lump Sum over 30% available (ignoring tax)

UK Penions for Epats

UK Pensions for Expats

UK Pensions for Expats

Improved Inheritance tax benefits after retirement

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

More information available on qualifying criteria? More More More

** Under UK legislation it is possible for retirees’ to take funds out in excess of 25% up to 100% paying income tax on the excess. That income tax will be due in the country they live in depending on the Double Tax Treaty (it may mean no tax is applicable on a SIPP for example outside the UK). Overseas it is possible to raise tax free cash to 30-35% of the funds.

* Post retirement over 74then QNUPS or QROPS offer advantages over a SIPP and should be considered for some countries. Under 75 then a SIPP should be considered first where possible.

SIPP versus QROPS versus QNUPS / ROPS (General)

SIPPs QROPS QNUPS
Can you borrow / take loans based on your pension?

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Can you invest in a property directly?

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Can you invest in a broad range of investments?

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

If you plan on returning to UK is it appropriate

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Is it suitable for you if you live overseas?

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Is it available worldwide?

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expats

Do you have to live overseas (Outside UK) to qualify?

UK Pensions for Expats

UK Pensions for Expats

UK Pensions for Expts

More information available? More More More

* Not recommended

Why would a SIPP be better than a QNUPS or QROPS?

With the new rules brought out in the March Budget 2014 then some benefits, such as income and flexibility to take capital have improved dramatically under a SIPP. Also, the fact is that QROPS or QNUPS is far more expensive than most SIPP products, if not initially then in terms of annual charges. Also, whilst a SIPP may not have the same flexibility in terms of investments, those investments will not come in an investment bond, and therefore be a fraction of the cost, thus improving returns over QROPS.

QROPS rules have not been updated as they come under Tier 2 legislation in the UK, and in most cases for people up to the age of 74, they are better off with a SIPP for retirement planning, rather than a QROP, because of the Budget 2014 and new rule changes in 6 April 2015.

UK pension transfers by overseas advisers

Beware recommendations of an investment made into an investment bond via a SIPP. This is often very costly bad advice dictated by the licences and limited knowledge of the advisers / advisors! In fact some of the better advice, following UK regulations, is only available through quality specialist pension advisers who understand regulations in the UK, and do not base their advice on who pays the highest  commission.

Case study

  • Uk based client who was moving overseas had heard he could obtain 100% "tax free".
  • Actually, what he was being recommended was going to cost him 9% and make him potentially liable to a tax penalty of 55%.
  • He was already in receipt of pension income in the UK in excess of £12,000. So we applied to release all of his remaining funds to him.
  • To avoid UK income tax legally, we instructed him to do the "release" the day after he had left the UK. He obtained £82,000 (after tax overseas) using this money for his personal use.
  • He also asked us to invest £25,000 which he is hoping to use as an emergency access fund in the future.

How we can help you

  • Would you prefer UK qualified experts to provide competent advice, rather than an offshore salesman seeking commission?
  • Are you no longer resident in the UK or considering moving abroad?
  • Do you have more than £50k in your UK pensions?
  • Would you like to pay less tax and have greater investment freedom?
  • If you answered YES to these questions Pensions4Expats could greatly improve your financial and tax situation.

Watch our explanation video

Play our explanation video

Awards

UK Pensions for Expats

New Rules

Download your free guide

Download your free guide

UK Pensions for Expats

UK Pensions for Expats

© 2009-15 Aisa International sro / All rights reserved / Website for non UK, nor US residents.
Pitterova 7, 130 00, Žižkov, Praha 3, Czech Republic

  • Facebook
  • Twitter
  • YouTube
  • Share