If you are planning to retire in your new country then it is a wise move to relocate your pension with you. We would highly recommend contacting a company in your new country that specialises in pension transfers and having them organise it for you. Tax laws and pension schemes vary from country to country and it can get a little confusing. It is best to organise this very shortly after you arrive in your new country as time limits can apply after which you may be taxed at a higher rate on your transfer.

If you transfer your pension(s):

• Death payouts go directly to nominated beneficiaries.
• You'll have no trouble activating or claiming your pension when you need it.
• You can consolidate all your pensions with a single provider in your new country.
• You will gain more control over your funds without affecting their earning power
• In some circumstances your funds can be released in part or in full well before UK State Pension age

If you leave your pension(s) in the UK:

• You will be subject to tax on the annual growth of the fund.
• At retirement your pension is taxable at a rate set in your new country
• Bank transfer charges apply to each payment sent to you.
• Exchange rates will affect the value of your payments.
• At death you may lose the balance to the UK government.
• Your Pension will be affected by changes of UK Legislation to pensions or Inheritance tax.