Transfer Hartley Pension As A Non-UK Resident
This article is intended for British Expats who hold a Hartley SIPP.
Hartley SIPP Background
Hartley Pensions Limited, a UK-based self-invested personal pension (SIPP) operator, entered administration on July 29, 2022, following serious operational and regulatory challenges. Peter Kubik and Brian Johnson of UHY Hacker Young LLP were appointed as joint administrators.
The administration process has been complex, affecting approximately 17,000 savers. Efforts to transfer clients' pension plans to alternative providers have been ongoing.
However, as of January 2025, only about 5% of clients have been moved, indicating a gradual transfer process.
Joint Administrators Hartley Pensions
The joint administrators continue to work towards transferring the remaining clients to new providers. Clients are advised to stay vigilant against potential scams and to maintain communication with the administrators for updates on their pension plans. Seeking professional advice is strongly recommended before proceeding with any transfer.
Hartley Pensions Financial Services Compensation Scheme
In January 2024, the Financial Services Compensation Scheme (FSCS) confirmed it would cover the exit and administration charges proposed by the joint administrators, alleviating some financial burden for affected clients.
Clients have however faced additional challenges, including halted pension payments due to regulatory issues.
Moreover, the Wilton Group, associated with Hartley Pensions, is embroiled in legal disputes and regulatory scrutiny over mishandled pension funds, further complicating the situation.
Can I Transfer My Hartley Pension?
In short, yes you can transfer to a new provider however, the process is ongoing. The first step should be to speak to a regulated, independent expat financial advisory firm. Here you can outline your objectives, discuss your main priorities, and understand the options available to you.
Specialist Expat Financial Advice
The Wealth Genesis are cross-border pension specialists and have assisted several Hartley SIPP members in transferring out of the scheme. We work closely with Hartley and the new pension provider throughout to ensure a swift and efficient transfer process.
The Hartley Pensions saga has left a number of members understandably concerned over the safety of their retirement funds. If you have any questions related to your Hartley SIPP or would like clarification on your options or advice received, contact us today for an impartial and free consultation.
You have the opportunity to consult with a multi-jurisdictional, fully independent financial adviser who is qualified to provide expert guidance. This ensures that you receive tailored advice that aligns with your unique financial goals, no matter where you are in the world.
