Self-Invested Personal Pension
A UK pension wrapper that you control: a tax-efficient container for retirement investments, with the assets inside chosen by you and your adviser.
Best for: expats who may return to the UK, or who want to keep UK pension protections.
Qualifying Recognised Overseas Pension Scheme
An overseas pension that HMRC has approved for UK pension transfers: broadly, relocating your UK pension into another country's system.
Best for: expats unlikely to return to the UK who want tax treatment optimised for their new country of residence.
Qualifying Non-UK Pension Scheme
A flexible overseas investment wrapper, not technically a pension, but it acts like one for tax purposes.
Best for: higher-net-worth expats wanting maximum flexibility and inheritance tax planning.
What we weigh up with you
Future UK residency
How likely you are to move back to the UK.
Pension pot size
Some structures suit larger pots better than others.
Tax treatment
How each option is taxed in your country of residence.
Investment control
How much say you want over underlying investments.
Regulatory protection
The level of oversight and consumer protection involved.
Management complexity
How much ongoing administration you're comfortable with.
Cost
Set-up and ongoing charges across the alternatives.
Your goals
Retirement income, flexibility, or estate planning: what matters most to you.
Frequently asked questions
No. Each is a wrapper around your investments, managed with professional advice. You don't need prior investment expertise to benefit from one.
No. Fee structures vary by provider and jurisdiction, and should always be compared alongside the features and protections each option provides.
Not automatically: eligibility depends on your circumstances, including where you are resident and the rules of the receiving scheme.
Yes, both are subject to investment restrictions set by the scheme and relevant regulator. We review these with you before recommending a transfer.
Yes. QROPS jurisdictions differ in their tax treatment and reporting requirements, so the right jurisdiction depends on where you live.
Not automatically: inheritance tax treatment depends on your circumstances and current rules, which are changing (see below).
Certain tax treatments depend on remaining resident outside the UK for at least five tax years. Returning sooner can affect the tax outcome of a transfer.
Costs and timelines vary by provider and scheme complexity. We set out the specifics for your situation before you commit to anything.
£1m+ in Spain? Structure it before 2027.
UK pensions join the UK inheritance tax estate from April 2027, adding real urgency to reviewing whether a QROPS or QNUPS could be right for your estate. Speak to an adviser to understand what the changes mean for you.
Book Your Private Review