# UK Pension - Should I move from UK to Offshore



## jitster (Jan 26, 2009)

Anybody had any experience of this? I've had 2 pensions from previous employers over the years which are back in the UK. I've still got about 20 years to go before retirement, should I keep these pensions in the UK or move them offshore as per advice from a Financial Advisor?


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## Johanna (Apr 13, 2009)

jitster said:


> Anybody had any experience of this? I've had 2 pensions from previous employers over the years which are back in the UK. I've still got about 20 years to go before retirement, should I keep these pensions in the UK or move them offshore as per advice from a Financial Advisor?


My personal opinion is to keep the pensions in the UK, the reason being that you will have money when you go back for visits etc.
If you still have 20 years before retirement, you must still be relatively young.... what about NI contributions and pension payout from the government?
Pension schemes have definite rules as regards to paying out... lump sum plus x amount per month, quarter, or whatever...

I am sure someone like Daxk would be able to advise you better... after all, I did not pass Econ 101... ( never studied it as a subject!!!)


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## jitster (Jan 26, 2009)

Hi thanks for the info. I've moved my pensions to a QROPS in Guernsey, advised by a company with it's headquarters in Switzerland. There are more viable options in doing this when you reach 55 other than buying an annuity. Plus there are less tax implications than keeping it in the UK. Basically if you're going to be permanently living abroad it would be worth your while as the UK tax system will tax you heavily.




Exiledtaff said:


> It would depend on the advisor and how reputable you consider him. I would recommend researching the pension transfer process further. I was advised to move my pension to a qrops provider in New Zealand from an advisor in Spain and nearly did so until I read an article which scared me off New Zealand qrops and the advisor who recommended it
> I ended up going with a financial advisors based in Switzerland who came recommended by a friend.
> Any further details feel to contact me.


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## jitster (Jan 26, 2009)

De Vere. The Financial Advisor I spoke to in Durban was extremely professional and knowledgeable and registered. There were no high pressure sales tactics or anything of the sort. He had been in the industry for quite a few years and by asking around I had this confirmed.



Exiledtaff said:


> I totally agree i did the same, what company did you use.


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## jitster (Jan 26, 2009)

Yes, I'd heard a mixed bag too, hence the asking around and local research in SA. But that just seemed to be about their recruitment process as opposed to anything specific to their advise and seemed to be more Europe related. I attended a separate presentation with a Global Fund Management organisation and bumped into the same De Vere advisor there. I think it just depends who you're in touch with.

Any bad experiences related to offshore pensions?



Exiledtaff said:


> I would be very carefull with that company, i and many i know have had bad experiences with them


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## ttpotgieter (Apr 5, 2012)

if you still keen on finding out on the transfers.....im just a call away


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