# another pension question



## bRod (Dec 15, 2014)

I`m looking for a UK company to transfer my small (UK Aviva) private pension pot to so that I can commence a drawdown option at 55.
Seems a lot of them can`t offer this to non resident expats? Aviva can't.
Any links or info appreciated.


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## Lynn R (Feb 21, 2014)

I had a small private pension pot with Aviva and in 2014 (by which time I had been resident in Spain for 8 years) I transferred it to a SIPP with Hargreaves Lansdown. They had no problem at that time with me not being a UK resident, most correspondence and all transactions are done online but if they need to send any paper correspondence they send it to my Spanish address. I put it into drawdown in 2017 and took the 25% lump sum (which I subsequently declared on my Spanish tax return) but haven't taken any income from it apart from that as I have other pensions and haven't needed to draw on it. Any payments can only be made to a UK bank account. I haven't had any correspondence from them to say that there will be any problems in my keeping my SIPP with them after the transition period ends.


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## davexf (Jan 26, 2009)

Hola 
There are that many pitfalls that are coming to light that I would recommend you get a professional financial Advisor who has "cross border knowledge". 

I use Blevins Franks as they have experts in many European countries and are fully aware of Brexit implications 

Usual disclaimer, I have no interest in Blevins save as a satisfied customer 

Davexf


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## Barriej (Jul 23, 2012)

My personal pension was moved out of my works scheme into one managed for me by the same company.
However due to the rules affecting them, I can only have the pension paid to a Uk bank and I have to return to the Uk once a year for a pension review.
This is down to the company not having licences to operate or give advise to anyone not resident in the UK.

I think that after the end of the year, this is going to cause lots of issues. However its done to the company to sort this but its something you will have to ask.

I only left my pension in the UK as I took the 25% last year before we moved (so spain doesn't need to know) and Im only taking the minimum out to keep me under the Uk and Spanish tax thresholds. I will lover the amount taken once I get to 67 (9 years) and I get my Uk state pension. And for tax purposes leaving in the Uk means my children wont pay much if any tax on the remaining sum once i kick the bucket.


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## bRod (Dec 15, 2014)

Many thanks for the replies..
I plan to contact some of the more reputable companies and see what, if anything, they can offer.
I was becoming a little concerned having read that some companies are declining new business and it was a legal requirement that any new plan had to be signed off by a financial advisor.. or something like that..


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## Barriej (Jul 23, 2012)

bRod said:


> Many thanks for the replies..
> I plan to contact some of the more reputable companies and see what, if anything, they can offer.
> I was becoming a little concerned having read that some companies are declining new business and it was a legal requirement that any new plan had to be signed off by a financial advisor.. or something like that..



If you move a pension in the Uk you are supposed to have a meeting by an independent financial advisor to ,ale sure you are not being shafted. There is a government scheme that allows you to book a free consultation.

I never bothered as all I did, was to move it within the same company. BUT I still needed to fill out the form that the pension company gives you. It asks if you have had advice, were you aware of stuff. 

Its used to ensure if you get screwed over its all your fault. 

If you contact the pension provider directly, they should also be able to advise, and it may also be free. Why not try them directly first?


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