International SIPP Australia

An International SIPP (Self-Invested Personal Pension) is a UK-based pension solution designed for expatriates living in Australia who wish to retain control over their UK pension and access their pension while benefiting from flexible investment options and tax efficiencies.

SIPP Pensions In Australia

An International SIPP, also known as a Non-Resident SIPP, is the preferred pension arrangement for British expats in Australia. It will allow you to transfer and consolidate your existing UK pensions into one pension scheme. From age 55 (57 from 2028), you can access your pension fund, be it regular income or ad hoc withdrawals. And, importantly, as it is a UK-to-UK pension transfer, it is considered a non-taxable event for an Australian resident. Furthermore, there are no stringent criteria to be met to transfer, unlike an Australian Super Fund.

International SIPP For Expats In Australia

The main benefits of an International SIPP for expats in Australia are:

Your pension remains under Financial Conduct Authority (FCA) regulation and FSCS Financial Services Compensation Scheme, ensuring strong investor protection.
You can transfer and consolidate all your UK pension schemes into one place, reducing cost and enabling one simple investment strategy to be implemented. This includes Defined Benefit schemes and Defined Contribution such as personal or workplace pensions.
Take lump sums or regular income from age 55 (rising to 57 in 2028) with no requirement to buy an annuity.
Thanks to the Double Taxation Agreements (DTAs) between the UK and Australia, via an NT code, you can withdraw your money free of UK tax.
Access a wide range of global investments, including stocks, bonds, ETFs, and funds, tailored to your risk appetite and goals.
Hold and invest in funds in GBP, AUD, and all major currencies, removing foreign exchange risks.
Unlike an Australian QROPS, there is no age restriction or other criteria you need to be eligible for in order to transfer your UK pension funds.
Mitigate the tax liability incurred when transferring to an Australian QROPS Qualifying Recognised Overseas Pension Scheme.

Australia SIPP

The Australian super funds are the equivalent of an Australian SIPP. An Australian Superannuation Fund and a UK Self-Invested Personal Pension (SIPP) are both retirement savings vehicles, but they differ in terms of tax treatment, contribution rules, investment options, and when you can access the funds.

To transfer your UK pension to an Australian Super Fund, you need to meet certain criteria, are limited in the amount you can transfer before being taxed, and need to comply with the 6-month rule.

Pension Advice For Expats in Australia

If you’re a UK expat living in Australia, managing your UK pension effectively is a key component for maximising retirement income and ensuring tax efficiency. Here at The Wealth Genesis, we provide expert guidance on the best pension solutions tailored to expats, helping you make informed decisions about your UK pension, Superannuation, and international investment options.

FAQs

There are multiple International SIPP providers ranging in cost, investment options, quality of client servicing, both with or without a named adviser, as well as other differentiating factors.
Novia Global SIPP is our current preferred solution for British expats in Australia.
If you meet the criteria and have a Super Fund that is a QROPS Qualifying Recognised Overseas Pension Scheme by HMRC, then yes, you can.
You can contribute for up to 5 years after leaving the UK into a standard SIPP. Contributions are, however, limited to £3600. We do not currently work with any International SIPP providers who allow non-residents to make contributions.
Depending on the pension held, you can't access your pension in any way you please, you have a limited fund choice, and you can't receive any ongoing management.
For free pension advice on UK pensions, you can contact Moneyhelper. The Free and impartial Government organisation in the UK.