Pension Withdraw

bashiraad

Hi All,


quick question about Pensions. I am 35 and have 3 company pensions from previous employers.


I am now working gout in the UAE and have an off shore account for a retirement plan with Zurich (Not a pension).


Would it be possible to transfer the funds from the pension accounts into this Zurich account? if so how would I go about doing this?


Thanks

Drp8713

Not unless the scheme is on this list, no.

https://www.gov.uk/government/publications/list-of-qualifying-recognised-overseas-pension-schemes-qrops/list-of-recognised-overseas-pension-schemes-notifications

atush

Why would you want to? Will you retire back in the UK?

dunstonh

Even if you can do it, is it a sensible thing to do?

Modern UK products are very competitively priced and typically amongst the best in the world on cost. Products sold in other countries, especially to ex-pats, tend to be similar in price to products sold here in the 1980s. Very expensive. Employer schemes in the UK, if money purchase, tend to be low cost. If defined benefit, then its not about cost but about the benefits you give up if you transfer out.