Control your retirement with a Self Invested Personal Pension
SIPPs have the full range of flexible benefits available. This includes the option to take all the funds out if required
You can take your pension from 55
Wide variety of investment choices
Costs tend to be lower than other pensions
On death your beneficiaries get paid the remaining funds (tax free if you die under 75)
Merge your pensions into one scheme
Online tools are often available to manage the pension
Frequently asked questions
Who is eligible for a SIPP?
Anyone can have a SIPP if they are resident in the UK.
People who now live overseas can also have a SIPP if they want to transfer a UK pension to the SIPP.
What types of pension can I transfer?
You can move a pension where there is a transfer value (e.g NOT UK State Pensions). You can not transfer unfunded public sector schemes, suhc as NHS pensions.
Will I have to pay UK taxes?
Any pension scheme in the UK will deduct tax at source on pension income paid. This is unless there is a double taxation agreement with the country where you now live.
Can I take my pension in US dollars?
Some pensions, such as SIPPS, can pay benefits in multi-currencies.
Is there a minimum amount I can transfer?
There is no formal pension value. But, small funds may not be viable to transfer as the costs may outweigh the benefits. In practice a transfer should be for funds over £30,000
How long does it take to transfer a pension?
It depends on the type of transfer and the parties involved. A rule of thumb is 4-12 weeks.
Is flexible drawdown available?
Defined contribution pension schemes should be able to offer flexible drawdown. But, it depends on providers rules you may need to transfer your pension to get this.