International Pension Planning
Over the last decade most FTSE 100 ‘final salary’ schemes have been operating under a funding deficit, nearly all have been closed to new members and the government has increased the tax burden for higher earners by consistently reducing the lifetime allowance. In addition, the government has increased flexibility in money purchase schemes by removing the cap on income drawdown – although most traditional schemes are refusing to introduce this important feature.
It’s fair to say then, that the pensions landscape of Great Britain is ever changing and the need for expert advice has never been more important.
Whether you need advice on transferring your pension to a SIPP or QROPS will depend on a number of factors. These include more obvious things, such as intended country of residence in retirement, but also include other factors that you may not have considered.
The good news is that our advisers specialise in pension transfer advice and can guide you through which options would benefit you most. Transferring your personal pensions and salary related schemes into a SIPP or QROPS will usually give you a host of benefits. These include a much wider range of investments, often improved tax position, increased death benefits, plus control over how and when you take your benefits.
There are many reasons for transferring your UK pension, but you should first seek expert advice. PWS Group pension advisers are fully qualified and undergo regular development training to remain abreast of current and pending legislation.
- Consolidation of pension schemes
- Defined Benefit (final salary) and Defined Contribution (money purchase) pension transfers
- HMRC regulated SIPPs (Self-invested Personal Pensions)
- HMRC recognised QROPS (Qualifying Recognised Overseas Pension Schemes)
- HMRC qualified QNUPS (Qualifying Non-UK Pension Schemes)
For more information, please select from the following: