UK Pension Transfer
When you move to the US, it is not uncommon to want to simplify your finances. Depending on the type of UK pension you have, and your needs, there can be benefits to doing a UK pension transfer.
Why is a Pension Review Important?
Whether you have one or several UK pensions, a UK pension transfer into a new UK personal pension can have many advantages. But it may not always be the right answer. Your current pension may have certain guarantees which, upon transfer, could be lost. Some older UK pension plans can also have high exit charges. For reasons like these, it is important to get advice from a financial advisor before making any decision to transfer your UK pension.
Learn how we have helped some of our clients gain control of their UK pensions.
Talk to an Advisor
Whether or not your UK pension is a significant part of your retirement savings, with the right guidance and advice, it can play a meaningful role in your retirement.
Frequently Asked Questions
The transfer of a UK occupational pension scheme or personal pension plan to any US retirement account is not permitted by the Internal Revenue Service (IRS). However, there can be benefits to transferring your UK pension to a fully flexible UK pension like a Self-Invested Personal Pension (SIPP). Before determining whether a pension transfer could be of benefit, it is important for a financial advisor to understand your retirement needs and objectives.