Expats and SIPPS Pensions

JonnyMac_2

I am a non Uk Resident currently living and working in UAE. Paid in US Dollars with no pension.

I have a frozen Uk final salary scheme of 17 years.
I have a frozen Dutch pension of 3 years.
I have a frozen Uk DC scheme of 2 years.

I am likely to return to UK at some stage to I have ruled out QROPS but I am very interested in trasnferring pensions into a SIPPS.

Questions:

1. will I be able to the Dutch pension to SIPPS?
2. which SIPPS provider is best value for a pension pot in the region of say £100K from above schemes.
3. Am I best to split the pot into 2 SIPPS scheme for greater protection?

I am an investment newbie but quick on the uptake and keen to learn.

dunstonh

will I be able to the Dutch pension to SIPPS?

possibly under QROPs.

The one you are likely to have a problem with is the final salary scheme.

which SIPPS provider is best value for a pension pot in the region of say £100K from above schemes.

Depends on how you want to invest and what features and options you want. There is no one-size-fits-all best solution.

Am I best to split the pot into 2 SIPPS scheme for greater protection?

What protection are you referring to?

I am an investment newbie

So, why are you looking at an experienced investor option?

JonnyMac_2

Thanks Dunston, I appreciate the response.

The protection I was referring to was government bailout should the SIPPS provider go under..

The final salary scheme is with a company whose future is less than secure. I saw SIPPS as a way to get the money somewhere I have a chance to collect should the worst happen.

my intention is to start simply with managed funds before progressing.

You are going to tell me to use an IFA I know..laffing

Thanks again

james.maughan

hi do not rule out a QROPS. As a QROPS can now be transfered to a QNUPS prior to returning to the UK, and has a lot of advantages.

Google:

QROPS specialists

There are good QROPS IFAs out there.................:money:

yelf

JonnyMac wrote: »

Thanks Dunston, I appreciate the response.

The protection I was referring to was government bailout should the SIPPS provider go under..

No such thing: it would be covered by the FSCS which is funded by other financial institutions.

james.maughan

A QROPS will provide far greater flexibility than a SIPP and you will be removed from new changes in pension legislation. e.g. Retirement age in the UK being pushed up to age 70 including private pensions.

Look at this the other way around. If you had a QROPS would you want to give up its benefits to go back in the UK system?