Expat benefits

Other benefits of an overseas pension

Transferring UK pension rights to an overseas pension scheme (also known as QROPS - Qualifying Recognised Overseas Pensions Scheme) under the UK pension provisions offers significant benefits to expatriates. The normal UK minimum pension age will still apply to the transferred pension benefits but overseas pension arrangements can offer considerably more flexibility for your retirement than UK pensions.

Currency

Overseas pension schemes allow for the payment of pensions in currencies other than Sterling, providing a valuable safeguard for expats.

Investment allocation

UK pension funds will often have a bias towards investment in UK assets. Overseas pension funds provide the scope for diversifying away from UK based investments as well as the option for more personalised investment management.

Beneficiaries

Overseas pension schemes will usually ensure that residual pension funds pass to the intended beneficiaries much more easily and quickly than would be the case in the UK.

Asset protection

Depending on the jurisdiction chosen for the Overseas Pension Scheme, there is the potential for greater protection against creditors and other claimants than is typically available in the UK.