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Page 14 Need an adviser to manage your pension in the UK?
There have been a lot of articles written about transferring your pension away from the UK. But what if you wanted to leave your pension in the UK?
Many clients have UK pension funds but do not wish to transfer them into a QROPS. This may be due to the cost of a QROPS or quite simply because they prefer to leave it in the known and safe jurisdiction of the UK (better the devil you know, and all that!). Often, clients move to Spain and no longer have a Financial Adviser to recommend how to get the best growth from their pension fund. This is because many UK advisers will not deal with non-UK clients. If you have a UK pension fund, ask yourself these questions.
1. Do you know where or how it’s invested? 2. Are you getting regular updates on how each fund is performing? 3. Are you maximising all the investment opportunities that are open to you?
If not, then we can help you! One option is to transfer your pension to a UK Self-Invested Personal Pension (SIPP). A SIPP gives you a greater range of investment choice than a personal pension plan, notably equities and property. Also while it’s invested, the SIPP remains tax free and so avoids capital gains tax, income tax and inheritance tax. By transferring your fund to a SIPP, your pension will remain in the UK and if you wanted to move your pension into a QROPS at a later date then this can be done at no charge. The other advantage is that it costs a lot less than transferring your pension fund to a QROPS. The greatest benefit of transferring to a SIPP is that we can manage it for you to get you the best potential growth from your pension. We will offer you different investment options and then monitor the progress of your pension fund. The advantage is that you will have total control of your pension. With our help you will decide how and where it is invested. You will be able to track each investment fund’s performance. If you are not happy with a particular fund then we can switch the money into another fund.
I believe the only way to maximise any investment fund’s performance, whether it be a pension fund or an investment portfolio, is to spread your money over many different investment products and then monitor each product to ensure that they are on track.
If you would like us to look at your existing UK pension arrangements then please call me to make an appointment and I can explain in more detail how a SIPP can benefit you. You can call me on 966 848 960 or email me at
tracy.storer@
aesinternational.com.
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