A SIPP is a pension ‘wrapper’ that holds investments until you retire and begin to draw an income. It works in a similar way to a standard personal pension. The main difference is that with a SIPP you typically have more flexibility when you choose what to invest into.

With standard personal pension schemes, your investments are managed for you within the pooled fund you have chosen. SIPPs give you the freedom to choose and manage your own investments. However, because this is a complex area, most people choose to have an authorised investment manager make the decisions for them.


See here what Managing Partner, Chris Ball, had to say about SIPPs.


Essential details of a SIPP

  • A SIPP is based in the UK and regardless of where you live it is regulated by UK law.
  • A SIPP is available to you regardless of where you live in the world.
  • Under current legislation you can start drawing retirement benefits from the age of 55. You can do this even if you are still in employment.
  • Your benefits are flexible. You may draw as much or as little income as you like. You can also stop and start withdrawing whenever you wish.
  • Up to 25% of your total funds can be withdrawn as a tax-free cash lump sum.
  • If needed you can transfer your funds into a QROPS later on.
  • SIPPs are excellent for those who plan to retire in the UK. They are equally beneficial for those in a nation with a preferential double-taxation agreement with the UK.
  • SIPP investments grow free of capital gains tax or income taxes.


Some SIPPs can also raise a mortgage against property. The rent will go towards paying down the loan and the costs of running the property.



A SIPP is a personal pension. You are not required to live in the UK to be able to invest in one. However, there are important considerations if you do not live in the UK and are thinking about using a SIPP:

  • Even though a SIPP is held in the UK, it is possible to have a multi-currency SIPP. This can be a great benefit to expats as it helps to mitigate currency fluctuations on both contributions and withdrawals.
  • SIPPs abide by UK pension rules and as such are affected by any changes the UK Government makes to pension rules. A recent example of this would be the changes to the Lifetime Pension Allowance that saw a reduction in the allowance from £1.25m to £1m.
  • When drawing an income from your SIPP you will still be subject to UK income tax. If you no longer live in the UK, your income may also be subject to tax in your country of residence. Hence it is critical to understand the local tax rules as well as those in the UK.  You can then make an informed choice about how to draw an income from your SIPP.
  • Many expats will speak to a financial adviser while making a decision about their retirement plans. They will do this because it is a very complex and critical area. If you are seeking advice from an adviser in the UK, remember that they may not be fully aware of all the opportunities for expats.

If you are an expat and would like to learn more about what your transfer options are, watch this in-depth pension transfer webinar.

Our transfer process



  1. Simply contact us to organise a no-cost initial meeting for you and one of our advisers.
  2. Undertake an initial meeting with one of our advisers to understand a summary of your options.
  3. Engage with Hoxton Capital Management for a Pension Analysis Report where we will assess your current pensions and complete research into your financial situation further.
  4. Receive your report – our licensed UK advisers will complete your Pension Transfer Analysis Report which outlines our recommendations.
  5. If a transfer is recommended, and you accept our recommendations, we will manage all aspects of the transfer for you.


A Qualifying Non-UK Pension Scheme (QNUPS) is a form of overseas pension available to British citizens. Read more here.

A qualifying recognised overseas pension scheme (QROPS) is an overseas pension scheme that meets certain requirements set by HMRC. Read more here.

Speak to us now

Contact us if you are thinking about setting up a SIPP or already have a SIPP. We can provide more information about your options and establish any potential areas for attention.

How can we help you?

If you would like to speak to one of our advisers, please get in touch today.

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