Kryten

Hi, I have had a look through the threads here and whilst there is some info, it's not quite what I am after and perhaps a little out of date. My question is similar to a thread started at britishexpats.com/forum/canada-56/alexander-peter-wealth-management-any-comments-923257 (I am not allowed to add in links as I am too much of a newbie), in that my circumstances are very similar to the OP. I too have four personal pensions in the UK, but am looking to consolidate them into a SIPP. These pensions are not my only retirement savings (I have RRSPs here), so whilst they don't add up to a huge amount, they are still significant. I am not 100% sure I will never go back to the UK, so I think keeping them in a UK SIPP is probably better for me than a QROPS transfer. I also understand that a QROPS transfer costs are more significant than a SIPP when the sums are smaller, and I understand too that drawing down a SIPP I will be subject to exchange rate fluctuations, but I hope I can work with the rate as it won't be my main source of income.

Can anyone recommend a UK company that allows a non-resident to open a SIPP or an IFA that can open one up on my behalf for a reasonable fee? I have researched a few. A J Bell looked good, but they won't allow Canadian residents to open a SIPP! myexpatsipp.com is one that doesn't look too bad in terms of costs and on going rates, but I am only going on reviews that again, are a bit out of date. It would be good to get some personal recommendations or negative experiences. I am not a real hands on investor and really only want to set up some sort of balanced portfolio and then dip into it when I need to start draw down, so I am happy to miss out a middle man as long as I know what the real total costs will be.

glendem4

International SIPP or QROPs are the only options when opening a new SIPP. UK SIPP providers like Hargreaves Lansdowne an AJ Bell will only allow UK residents to open a new SIPP.

Kryten

Actually A J Bell will allow non-UK residents to open a SIPP, but not if you reside in Canada (see section 10.5 of their terms and conditions http://www.youinvest.co.uk/sites/def...conditions.pdf).

Mordko

I opened X-O SIPP account about 2 years ago. Required a coupe of extra phone calls to explain that I am only transferring money already within UK pensions and won’t be making any further contributions.

Pretty good brokerage. Respond quite fast to any issues and are much cheaper than the likes of Hargreaves. Full choice of ETFs. You don’t need an IFA to set up a standard portfolio.

Three Canadian companies eligible for QROPS = a bad deal. Poor offering of limited and expensive products. Same goes for “International SIPP”.

Kryten

And Hargreaves Lansdown will allow non-UK residents to open a SIPP if they live in the EAA! BH! What is it with these companies?! I only want to consolidate some old pensions so that I can draw down in a more convenient way.

TonyH

Does not seem to apply for AJBell Platinum SIPP

Sunnybrae

I have a SIPP with Fidelity, no idea if they allow overseas investors but their fees are low and it could be another option for you?

glendem4

Platinum is expensive with monthly fees of 40 pounds and charges to buy a mutual fund costing 30 pounds for every transaction https://www.ajbellplatinum.co.uk/content/fee-schedule