Information on U.K pension transfers information if you as an expat are considering moving and or have transferred your U.K pension(s).
Please note that this message is not a recommendation to transfer your pension(s) or to review them. As it may not be in your best interest. If you require personal financial advice please speak to a competent and qualified advisor. If you would like to contact me then please use the button at the bottom of the page and I can arrange a time to call if it’s required.
We are simply providing information U.K pension offshore platform costs and some of the FCA fee-based and low cost options for expats as I believe it is feasible for personnel to understand the options.
Note: Investment returns, and past performance not being indicative of future performance and do not guarantee any performance. It is recommended that you speak with an advisor and fully understand the risks before making any decisions regarding your pension(s) we have also linked below a free impartial U.K government pension helpline.
Our Aim
Our aim is to provide a low-cost, transparent, fee-based only, and FCA-regulated platform for international SIPPs. I currently use Novia Global and low-cost ETFs to create a portfolio for pension transfers. I do not use offshore bonds with surrender periods and high fees. All fees are completely transparent meanwhile I use low-cost ETFs such as Vanguard and Ishare with no entry and exit fees for a portfolio.
Our aim is to keep costs low and transparent in the U.K. pension transfer market.
The costs associated with the Novia Global platform are between 0.45% to 0.2% depending on the amount, with a trust cost of £180 per year plus a 0.2% fund cost based on ETFs and 0.3% IFA fees. We aim to keep fees around 0.9%.(please ask for a full transcript of Novia costs and can send on request).
The platform is flexible, and you can change it without any exit charges. You however can NOT take your lump sum before 55 tax-free.
All this is still in a SIPPs format.
How We Create Portfolios
We create portfolios using a template from investment guidelines, which mostly consist of low-cost ETFs with a blend of active funds. We aim to keep funds cost below 0.2% average. The allocation of assets depends on the time frame and risk profile, and we can modify it for individual circumstances. Before any pension transfer, we need to go over a risk profile to understand your risks for investments so can allocate asset allocation accordingly.
If you wish to change advisors, you are free to do so at any time. The FCA numbers for Novia Global can be found on their website and below. We encourage individuals to seek external evidence and verify with Money Helper before making any decisions and moving ahead.
For more information, we have several articles on our website (linked below), and we encourage anyone considering a pension review to read as much as possible. The first step in the process is a review of your individual circumstances (note we cannot give tax advice or specific investment advice on your country of residence).
Links to Relevant Websites
Also, before transferring we strongly encourage going to the free UK government helpline, Money Helper to ensure that you are comfortable. We have strongly encouraged all clients to do this beforehand to ensure they have reviewed different perspectives and get a free impartial review from U.K government agency.
If you would like more information please feel free to contact Money Helper using the form below:
https://www.moneyhelper.org.uk/en/pensions-and-retirement/pension-wise
Links for FCA: FCA Website
Novia is a fee-based only platform – Novia Website
Registered office:
Novia Global Ltd
Cambridge House
Henry Street
Bath BA1 1JS
Novia Global Limited is a registered company in England & Wales. Register Number: 9042249
Novia Global Limited is authorised and regulated by the Financial Conduct Authority. Register Number: 653661
Network FCA
GlobalEye Advisory, FCA Number 931901 is authorised and regulated by the Financial Conduct Authority. Registered in England. Registration Number 12688390.
To help you gain more knowledge in pensions, transfers and gaining the information you need as an expat, here are articles I have written to help expats:
If you want to understand more about us, how we help expats, where we are based, please visit the link below:
