Now that you are a UK expatriate living in the USA, you have unique opportunities available to you to make the most out of your UK pension transfers and receive it in the USA upon retirement. LDN Wealth can conduct a full review on all your existing UK pensions and explain the retirement options available to you. In majority of cases, it could be in your best interest to transfer your pension to a SIPP or QROPS.
UK Pension Transfers
QROPS is an overseas pension transfer scheme that is based in a jurisdiction other than the UK that meets certain requirements set by HMRC. Most expatriate UK pension transfers can easily work into a QROPS. as long as the overseas scheme is registered with HMRC and is fully compliant with the standards of the jurisdiction it is domiciled in.
A SIPP (Self Invested Personal Pension) is a type of UK government-approved personal pension scheme, which unlike a company private pension or a personal private pension allows individuals greater control and flexibility of their pension investment decisions. It is often likened to an Individual Retirement Account (IRA) in the USA.