A guide to investing your retirement plan overseas
A SIPP is basically a type of personal pension that is approved by the UK authorities. They are popular with investors because they provide the flexibility for pension holders to choose the type of investments they want within the pension scheme. Many British expats choose a QROPS for their SIPP because it offers them more confidence with fluctuations in the money markets since a QROPS can be held in currencies other than the pound. However, all SIPPs provide a tremendous amount of flexibility when it comes to investment portfolios, notably those that include equities and property elements.
Some investment assets are subject to tax charges under HMRC’s rules within a SIPP, but not all do. Examples of those that don’t currently include authorised UK unit trusts, validated carbon credits and gold bullion. Because of the choice that is afforded under a SIPP, many people choose to transfer their existing pension into one, but this can lead to penalties or other limitations in some cases, depending on the value. Where a QROPS type of SIPP is chosen, a lack of regulation under the Financial Services Authority needs to be understood fully, too. Download the SIPP’s: Everything You Need To Know About Self-Investing Your Personal Pension PDF for everything you need to know about the pro’s and con’s of SIPPs.
Download: Self-Investing Your Personal Pension
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