Offshore Pensions - Moving or Living Abroad
The UK government still gets its pound of flesh, as it taxes your pension when you withdraw it, even if you no longer live in the UK. That may seem inequitable for those expats living abroad in a low or no- tax country. But there is another way. A QROPS (Qualifying Recognised Overseas Pension Schemes) - or the use of a SIPP (Self Invested Pension Plan) as an interim solution - are alternatives.
Every UK expatriate should seek advice on transferring their UK pension, as to do nothing could prove very expensive.
The UK government still gets its pound of flesh, as it taxes your pension when you withdraw it, even if you no longer live in the UK. That may seem inequitable for those expats living abroad in a low or no- tax country. But there is another way. A QROPS (Qualifying Recognised Overseas Pension Schemes) - or the use of a SIPP (Self Invested Pension Plan) as an interim solution - are alternatives.
Every UK expatriate should seek advice on transferring their UK pension, as to do nothing could prove very expensive.
