SIPP/QROPS Pension Reviews
We have independently reviewed from the UK:
54 SIPP providers,
18 QROPS providers,
13 QNUP providers
We have based our recommendation on:
1. Cost
2. Service standards
3. Flexibility
4. Access to funds
5. Feedback
We have:
SIPP
QNUP
SIPP, QNUP & QROPS
SIPP
Transact SIPP
Provided by: | Transact |
Trustee: | Based in UK |
Regulated in: | UK |
Service Rating: | Medium |
Costs: | Low, Typical 0.325% |
Other: | Pure WRAP which can hold any regulated investment. Largest WRAP in UK. |
Comment: | Ideal for expats in most places. Initial purchase in sterling, but then can hold other currencies. Well established. |
Ascentric APP
Provided by: | Royal London |
Trustee: | Based in UK |
Regulated in: | UK |
Service Rating: | High |
Costs: | Low, Typical 0.25% |
Other: | Cannot hold property and only holds sterling currently. |
Comment: | Excellent service and investment flexibility but restricted user availability. Well established low cost SIPP. |
AJ Bell SIPP
Provided by: | AJ Bell |
Trustee: | Based in UK |
Regulated in: | UK |
Service Rating: | High |
Costs: | Tiered, Typical 0.2% plus trading costs |
Other: | Multi-currency and trading in US / UK but cannot hold property. |
Comment: | Excellent service and investment flexibility but restricted user availability. Well established, but must hold a UK bank account. |
QROPS – Malta
Melita QROPS
Provided by: | TMF |
Trustee: | Based in Malta |
Regulated in: | Malta |
Service Rating: | High |
Costs: | High, €2,500 to £750,000 €3,000 from £750,000 to £1mil Larger, but negotiation |
Other: | Open architecture so very flexible. Only allows regulated funds. |
Comment: | Aimed at the discerning top end of the market, looking for a full service. |
Sovereign QROPS
Provided by: | Sovereign |
Trustee: | Based in Malta |
Regulated in: | Malta |
Service Rating: | Medium |
Costs: | High, Typical €800 but bond costs on top |
Other: | Sovereign founders based overseas and understand the expat market. |
Comment: | Mass market provider. Lite versions and free transfers between Malta and Gibraltar. |
QROPS – Gibraltar, Isle of Man
Sovereign QROPS
Provided by: | Sovereign |
Trustee: | Based in Gibraltar |
Regulated in: | Gibraltar |
Service Rating: | Medium |
Costs: | High, Typical €850 but bond costs on top |
Other: | Sovereign founders based overseas and understand the expat market. |
Comment: | Mass market provider. Lite versions and free transfers between Malta and Gibraltar. |
Our review methodology
QROPS and Offshore SIPP reviews are conducted by G60/AF3 regulated pension advisers from the UK, and we review nearly all schemes that are available whether that be in the UK, the USA, Malta, Gibraltar, Isle of Man, New Zealand. We can also review schemes in other countries when requested although we make a charge for doing so. This review examines the various locations and does a SIPP QROPS comparison listing the best Trustees.
We examine QROP Schemes and SIPP pensions alongside the latest legislation (especially since the new pension freedoms available since April 2015) and likely forthcoming legislation and key legal matters. We do this in a transparent way and our experts here at pensions for expats, publish our findings regularly.
As international advisers who originate from the UK, we are experts in pensions and expatriate money matters. How can we claim this? We are qualified to the UK G60/AF3 level, we are currently regulated in the UK with the Financial Conduct Authority (FCA), we are able to provide pension transfer advice on defined benefit schemes post 28 July 2014, and we are multiple award winners. We have articles published about offshore pensions in multiple magazines, and we are open about who we are.
It’s difficult to find a website out there, that talks about QROPS, QROPSreviews (qrops reviews), QROPSchoices (qrops choices), QROPSexpert (Qrops expert), QROPSpensionexperts (qrops pension experts) that openly says who they are. There is a reason they all hide away, because they all advise on the same rubbish commission driven bond products, dressed up as good financial advice and “avoiding 55% tax”.
We will tell you the truth, be open about benefits, but also cautious about whether QROPS and SIPPs are the best option for you. Our QROPS ratings review page and SIPP ratings review page have been combined into one page recently (QROPS/SIPP ratings) but they are still backed up by our governance document in the UK which is reviewed at least annually, giving you real qrops choice.
So our list of SIPP reviews and qrops choices are a perfect starting point for expats, who want UK pension experts who deal in the offshore QROPS retirement market, and who put their clients first, and the QROPS provider second when making a decision about the best QROPS choice or SIPP rating. We are regulated to give advice in the UK/EEA by the Financial Conduct Authority (FCA), by the FSB in South Africa and to give advice in the USA by the Securities and Exchange Commission (SEC) but this example is for outside both of those territories. Contact us for advice by one of our regulated and authorised advisers for those countries.