Get some clarity on your QROPS, SIPP's or QNUPS pension options...

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UK Pension Changes; know your QROPS, SIPP's & QNUPS for better or for worse?

Understanding your international pension benefits can be difficult at the best of times but with recent legislative changes  there could be opportunities, and indeed threats, to your existing pensions.  Arm yourself with the facts here.

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“I first had financial advice in 1994 at a pre-retirement course and have been delighted with the continuing service ever since."


Since September 2012, I have been assigned a new financial advisor at GWM. I have always found him to be very friendly, service-minded, and very importantly, providing quick responses to my questions.

Thomas Karlsson


Tax efficiency

QROPS, SIPP's or QNUPS?  Your Lifetime Allowance has just reduced to £1m, have you protected your pension?  Is it as tax efficient as it could be?

No Inheritance Tax Liability

Currently QROPS are not subject to IHT, however UK Death Rules are under review and this may change in April this year, how could this affect you?

Control over your income

Unlike Defined Benefit pensions, a QROPS or SIPP can give you control over your income, perhaps spending more in the early years of retirement and reducing it as you get older.
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Your advisor will help you to work out which is the best solution for you depending on your needs and objectives. As pension legislation changes so too do the options for those of us deciding to retire abroad. Careful pension planning is essential to any financial plan and getting it right is paramount. GWM are supported by a specialist pensions team and will provide advice to UK standards so you can rest assured that moving abroad won’t disrupt your plans for the life you want, when work is over.

The UK Government changes to pension regulations means you have to be more careful than ever when deciding your next move with your pension. The benefits of QROPS still remain, but with much ongoing changes to UK SIPP's, coupled with advantageous Double Taxation Agreements, understanding what you want to achieve with your income is paramount.

have you already transferred your Pension? Are you happy with your performance? The highest cost of any investment is lack of investment performance and GWM is one of the few International IFA's with an in-house Investment Committee whose goal in life is get your money working hard for you. If you think your pension could work harder for you, contact us now for a complimentary review. We specialise in:

  • Retirement planning
  • Lump sum savings
  • Investment planning
  • Education fee planning
  • Critical illness and family protection
  • Pension transfers – with support to UK standards from a chartered UK IFA.

Frequently Asked Questions

What is a SIPP?

A Self Invested Personal Pension is a UK based private pension with added functionality, transparency and flexibility. A SIPP is a pension ‘wrapper’ and within the wrapper you can invest in a range of opportunities, effectively designing your retirement strategy to best suit you to and through your retirement. It’s worth noting that as this is a UK based plan, it is subject to all the benefits and drawbacks of UK legislation. It is a fully functional and regulated UK plan and will continue to meet your needs whether you are a UK resident or live overseas.

What is a QROPS?

A Qualifying Recognised Overseas Pension is an international pension plan recognised by the HMRC. While it is recognised and authorised to accept transfers of pension funds from UK plans, it only needs to report to the HMRC for its first 10 years and it is not subject to continuing UK pensions legislation. It can adapt to your changing circumstances and can also benefit from local taxation.

So which one is better for me?

At GWM, we recognise the dangers of generic advice. Your future is personal, your circumstances are individual and there will be reasons for and against many options that we are able to present to you. We need to understand what existing plans you have in place, your taxation position and the tax status of the country you currently live in and plan to retire in.

In order to provide the right advice we really need to take time to understand your current and expected future circumstances and your expectations for Inheritance and family income in the event of your death.

All of these questions and many more help us to formulate the perfect plan that is as individual as you are and from which we can work out the best solution for you.

Talk to us

Whether you are looking at your Pension options for the first time or you have an existing QROPS or SIPP which you would like reviewing, we are here to help you make the best choice for you.  Contact your

Regional Office or call our Global Helpline on +41 22 710 7864

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