Keeping your UK pension despite being non UK resident? Not considered a transfer to a QROPS?

Fiduciary Wealth Team

Are you missing out on an opportunity by keeping your UK pension after establishing residency abroad? Did you know that some jurisdictions are extremely tax-efficient with an overall tax charge of 2%? Do you realise that if you cash in 100% of your UK pension worst case scenario the overall tax charge could potentially rise to 56%?

The tax consequences of cashing in a UK pension fund are huge. In fact the income tax charge alone could be as high as 45% and that’s before you add on lifetime allowance tax and any inheritance tax let alone consider any capital gains tax liabilities.

Now what is stopping you from making the right decisions? Do you realise that keeping a UK pension whilst living abroad could seriously damage your wealth? More worryingly are you conscious of the fact that you could potentially be reducing the value of your estate and what you can pass onto your loved ones to secure the futures of those who are dependent on you?

Don’t play Russian roulette with your family’s future give us a call today to discuss your UK retirement plans and your overseas financial planning and retirement planning needs. We have certified financial planners that can advise on UK pension transfers into QROPS and on the investment management of your pensions. For professional financial advice and wealth management call Tel: +34900102374 or email We would be delighted to arrange a private consultation for you with a financial planner to discuss your current UK pension arrangements and benefits of transferring into QROPS.