International SIPP For Expats in Singapore

As a British expatriate residing in Singapore, managing your UK pension through an International Self-Invested Personal Pension (SIPP) can offer flexibility and control over your retirement savings. International SIPPs are tailored for non-UK residents, providing a broad spectrum of investment choices and the ability to hold multiple currencies, which can be particularly beneficial for expats.

What Is An International SIPP?

An International SIPP (Self-Invested Personal Pension) is a UK-based pension scheme designed specifically for expatriates and non-UK residents. It allows you to manage your UK pension as a Singapore resident, offering you greater flexibility in investment choices, access, tax efficiency, and currency options.

International SIPP For Singapore

An International SIPP has a number of key benefits and features that benefit you as a British expat in Singapore, these include;

  • Unlike traditional pension schemes, an International SIPP lets you choose and manage your investments via a Financial Adviser, giving you access to stocks, bonds, ETFs, mutual funds, and property.

  • Hold and invest in all major currencies, including the Singapore Dollar, reducing exchange rate risks.

  • From age 55 (rising to 57 in 2028), you can access in any way you require, including regular and lump sum drawdown.

  • You can access up to 25% of your pension free of UK tax, with flexible income options thereafter. Via an NT code, you can receive the withdrawals after the 25% gross of UK tax with the relevant tax due in Singapore.

  • International SIPPs are regulated by the UK’s Financial Conduct Authority (FCA), and are covered by the Financial Services Compensation Scheme, FSCS, ensuring protection and compliance with UK pension laws.

  • If you have multiple UK pension pots, an International SIPP allows you to consolidate them into one account for simplified management and cost reduction.

  • International SIPPs are competitively priced, starting at zero setup and £240 p/a + 0.34%.

Pension Advice For Expats In Singapore

If you’re a UK expat living in Singapore, effective pension planning is essential to securing a comfortable retirement. Understanding your options for managing existing pension schemes ensures you have the right provisions in place for the future.

An International SIPP offers the flexibility, control, and tax advantages needed to optimise your retirement savings. Working with a specialist cross-border advisory firm ensures you're in the most suitable products and investments, aligned with your long-term financial goals.

At The Wealth Genesis, we provide comprehensive financial planning and wealth management services tailored to expatriates in Singapore. Our approach is fully bespoke—there are no generic, one-size-fits-all investment solutions.

As anindependent advisory firm, we prioritise selecting the most suitable products and investment funds, eliminating conflicts of interest, and ensuring that your retirement planning is structured for long-term success.

FAQs

  • There are many International SIPP providers available. We recommend solely on suitability after assessing areas such as cost, service, investment options, security, and reputation.

  • Whilst both products are UK pension schemes, the main differences are:

    An International SIPP will allow;

    Non-UK residents can open a policy, whereas standard UK SIPPs will not.

    Invest and hold in multiple currencies

    Work with a regulated independent financial adviser for both product selection and investment allocation

  • If you already have a UK SIPP, there should be no requirement to transfer, subject to you being able to do everything you require. If you are not in a UK SIPP but wish to transfer existing pensions into one, you will need to find a UK SIPP provider who does not work with UK residents.

  • None of the International SIPP providers we work with will allow contributions. Furthermore, you can only contribute to a SIPP within 5 years of leaving the UK and are capped at £3600 p/a for tax relief.

  • Our current preferred solution is the Novia Global UK SIPP for the majority of expats. If your needs cannot be met by Novia's SIPP then we will use an alternate solution.

  • We charge a flat fee of £3000. Subject to your existing scheme having no exit penalties, there are no other associated costs for transferring one or more pensions.

  • Yes, we can facilitate setting up a self-managed international SIPP and a subsequent ongoing fee reduction. Alternatively, there are self-managed solutions available with no need for a named adviser on the policy.