Nucleus wrap

Robin_C_2

First: thanks to everyone for your replies.

Perelandra wrote: »

I guess the only point would be if the employer required the investments to be in a pension, if they were matching it (which would be reasonable). OP's original post suggests that might be the case?

If not, then I agree paying money into a pension without tax relief would be daft!

Yes, that's right: I'm trying to take advantage of my employer's matching contribution scheme. They will only pay into a pension account, as Perelandra said. Otherwise, as you are suggesting, I would look at investing this money in other ways: TD Direct have an investment platform for expats based in Luxembourg, that I thought looked interesting.

My problem is that the only alternatives I've been able to find offshore are Life Assurance schemes: these are commonly offered by financial advisors in Asia — usually with Friends Provident, Zurich, or Royal Skandia. The issue with these schemes for me was the penalties for withdrawal, or altering the agreed payments, and the ongoing high fees over a 20-year term.

If anyone has ideas on other alternatives that would allow me to take advantage of my employers' matching contributions, I would be very grateful.

Robin_C_2

sandsy wrote: »

I just did a quick google and ended up quite randomly reading the James Hay SIPP guide. It was quite clear that non-UK residents could open and contribute as much as they want to SIPPs but just wouldn't receive tax relief.


There's lots of SIPP offerings available online which are effectively DIY if you're comfortable directing your money to specific funds for yourself.

Thanks for that, Sandsy. I might end up applying for the James Hay SIPP, after checking some details with them on Monday.

The problem with the other SIPPs I've looked at: Hargreaves Lansdowne, Fidelity etc, is that they won't accept applications from expats.