In an ever changing employment landscape, individuals have changed employment on a more regular basis and could accumulate a number of pension savings from their previous employment relationships with a number of different pension providers which could make monitoring and analysing their pension savings difficult. To streamline the process, the pension legislation allows you to transfer your pension savings into one retirement scheme.
At Oasis, our regulated financial advisors are knowledgeable and qualified to facilitate the transfer of your various pension savings to a SIPP.
Who can transfer?
• A UK resident for tax purposes or one who considers the UK to be their permanent home
• You can transfer from your UK-registered pension scheme to your SIPP,
• You can transfer your deferred UK-registered pension scheme to your SIPP,
• Your overseas pensions subject to regulatory requirements of Qualifying Recognized Overseas Pensions Schemes (QROPS),
• A transfer offers you the opportunity to consolidate your existing pension arrangements for easy and effective monitoring,
• A SIPP can help to build up your pension savings alone or complement existing pensions. If you, like many others, have amassed
multiple pensions during your working life, you could transfer some or all of them to a SIPP to make managing them a little easier.
But before doing this, you should consider whether you’re giving up any guarantees under your current schemes.