British pension transfer to USA


The question we get most asked is “Is it possible to do a British pension transfer to USA pension?” Whilst, there are many reasons and benefits of planning a British pension transfer to USA via a UK SIPP, the truth is that it is not possible to execute a British pension transfer to USA pension; the IRS do not permit such a transfer. Please see our key facts about a British pension transfer to USA QROPS and definitions.

On March 9th 2017, all transfers to QROPS from that date,for those resident in the USA, became subject to an Overseas Transfer Charge of 25%- Effictively, completely removing QROPS as a viable option for a transfer. Transfers from and to UK pensions ( such as SIPPs ) are not affected.

What are the benefits of considering a British pension transfer?
Key benefits of considering a British pension transfer are listed below, but you should take action to consider potential reduced charges, consolidation, investment management, flexibility, access and tax.

We aim to take the complexity away from you and keep the process simple. We will take existing contracts, no matter how complex or high charged, consolidate them into one information point utilizing our specialized tools, and we will provide the next best thing to a British pension transfer to USA pension; simplification and a joined up advice process considering all aspects.

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2013
WINNER: PENSION PLANNER OF THE YEAR

US focused solution

Being regulated in the UK by the FCA and registered with the SEC in the US, it provides an almost unique perspective for US based clients. We utilize dedicated pension providers that allow us to operate a fully flexible pension solution for US persons.

Types

Pensions are probably the most complex part of the financial planning process; there are numerous types which are covered by many different sets of rules. Whether you want to discuss a Final Salary scheme, a personal pension, a SIPP or your current Pension Scheme, Aisa are experienced and qualified and happy to discuss this with you.

Pension Transfers

Many clients come to Aisa with older style pensions, where the charges are high and the range of funds is restricted or for some other reason the client is not happy with the current pension provider. In most cases it is possible to move the pension from the current provider to a new provider, this is called a Pension Transfer. This is a straight forward process, but exceptional due diligence needs to be carried out before the Pension Transfer takes place because of the risks involved.

British Pension Transfer to USA

We may have already ruled this out but what should still be considered is the interaction of your British pension in relation to your US held pensions. We are uniquely able to do this and plan an investment strategy that takes into account both elements.

Taking Investment Control?

You should review your pension regularly regardless of market activity. A review can ensure your pension investments are performing as necessary to reach your end goal or help you discover whether you should look into investing elsewhere. A review can also help you to determine whether or not the fund performance justifies the charges you pay for your fund to be managed and if the level of risk is still suitable.

Without keeping up to date with pension performances and making adjustments when necessary it is possible that pension funds won’t do as well as the plan holder anticipated.

Flexible options upon retirement?

There are many more prudent ways to invest your pension at retirement that avoids the use of “lock-in” annuities in the UK. For those who are at the point of considering to take their pensions and have funds in excess of £300,000, then contact us for advice. Your current pension may have certain guarantees which, upon transfer, would be lost. It is important to receive advice from a specialist investment advisor like Aisa International before making any decision that you may regret otherwise.

Tax and death?

The only two certainties in life! We assist with your taxation position by working with experienced experts who are used to the problems you may encounter. Further with new rules in the UK, then we can helpyou plan the best route for succession planning. We provide you with the knowledge to ensure death benefits are paid to your dependents and/or beneficiaries as you intend, and becoming a valuable wealth transfer vehicle down the generations.

Consideration Options & Results

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Consideration Options & Results

Complete the fields below, then click next to find your target fund value.

Click next to find your target fund value.