Dentons SIPP Transfer For Non-UK Residents
Dentons has been one of the UK’s most established pension providers for 45 years, specialising in Self-Invested Personal Pensions (SIPPs) and Small Self-Administered Schemes (SSAS) for UK residents.
Dentons Pensions
Both these pension products are highly valued for the flexibility they offer and the increased control over investments compared to traditional pension schemes. Whilst a SIPP is perfect for individuals who want to manage, invest, and grow their pension funds in a tax-efficient way, the SSAS is an excellent choice for business owners and employers looking to manage multiple members' pension pots within one scheme. The SSAS can even be used as a business tool, allowing the sponsoring employer to borrow money from the scheme.
As a trusted provider, Dentons is known for its award-winning service and experienced team of pension consultants. However, if you currently hold a Dentons SIPP or SSAS and are moving abroad or are no longer a UK resident, it’s important to consider your options as an expat. Our guide will outline the key areas and options to help you make informed decisions about your pension management.
UK Pension Transfer For Expats
If you’ve already left the UK or are planning to relocate soon, it’s important to know that once you’re no longer a UK resident, your current UK pension adviser will no longer be authorised to manage or advise on your portfolio.
Since Dentons is a UK-based provider, they won’t be able to offer pension support in your new home country due to financial services regulatory restrictions. As an expat, this can leave you in a difficult position, as you’ll need to explore alternative solutions for managing your retirement savings.
Additionally, the Dentons SIPP and SSAS products are designed specifically for UK residents and may not be the most suitable options for you.
It’s essential to seek advice from experts who are fully regulated to assist you outside of the UK and who are specialised in cross-border financial management, to help you find the best pension solution for your circumstances.
Overseas Transfer Charge | QROPS Qualifying Recognised Overseas Pension Scheme
Previously, transferring a pension to a QROPS (Qualifying Recognised Overseas Pension Scheme) was a popular choice for expats relocating abroad, offering significant tax advantages. However, this changed drastically after the Chancellor’s October 2024 budget. The new policy removed exemptions from the Overseas Transfer Charge for transfers to the European Economic Area (EEA), including Malta and Gibraltar, where many QROPS were typically based.
As a result, a substantial 25% tax is now levied on the total value of any pension transferred outside the UK when the member does not reside in the same country as the new provider.
For most expats, this high tax makes QROPS transfers unaffordable and unappealing, effectively removing the benefits they once offered.
Dentons SIPP Transfer Options
Since the introduction of the Overseas Transfer Charge, the International SIPP has emerged as the ideal pension solution for most UK expats. Offering similar benefits to the Dentons SIPP, but specifically designed for UK expats, the International SIPP ensures you can manage your retirement savings with greater ease and flexibility.
Regulatory Protection:
One key advantage is that the scheme remains based in the UK, meaning it retains the protection of UK regulatory standards, operating under the FCA (Financial Conduct Authority), FSCS (Financial Services Compensation Scheme), and the Pensions Regulator.
Reduced Currency Risk:
Additionally, whilst leaving your Dentons SIPP in the UK may expose you to currency exchange risks when transferring from Sterling to your new local currency, the International SIPP reduces this risk by allowing you to hold and invest in multiple currencies.
Greater Investment Control:
With a wide range of investment opportunities, the International SIPP can be tailored to your individual goals, with a unique investment strategy to grow your retirement funds over time.
Portability and Flexibility:
The International SIPP allows you to access and manage your pension from anywhere in the world, with the option for regular or ad hoc draw-downs to manage your tax liabilities.
Consolidation:
This solution allows you to consolidate multiple pension schemes into one, simplifying management and reducing costs.
Best International SIPP Providers 2025
When choosing the right International SIPP provider for your needs, it's important to consider several factors, such as your financial goals, preferred investment options, flexibility, cost, functionality, level of service, and the provider's reputation.
Thorough research is essential to find the best fit, and consulting a qualified, regulated financial adviser is key to identifying the provider and pension scheme that suits your personal circumstances.
The first step is to seek financial advice from someone specialised in expat financial planning. They can help you clarify your objectives and motivations for the transfer, address any concerns, and determine if a pension transfer is the right choice for you.
If it’s not, they can guide you toward alternative solutions, such as locally compliant investment options. A skilled adviser will help you make the best decision based on your individual risk tolerance, financial goals, and circumstances.
To learn more about International SIPP providers, click here.
Cross-Border Financial Advice
At The Wealth Genesis, we specialise in helping British expats worldwide with their financial needs.
As a fully independent and regulated firm, we have no ties to specific providers or investment managers, allowing us to offer tailored solutions that are designed to fit your unique circumstances.
We believe in transparency, providing fair fees with no hidden costs. Whether you need assistance with your Dentons SIPP, SSAS or other pension products, we are here to help you grow and protect your wealth.
