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UK Pension Annuity option for US resident

UK Pension Annuity option for US resident

Old Jan 29th 2024, 1:38 pm
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Default UK Pension Annuity option for US resident

Hello,
I recently retired in the US and had couple of small pensions in the UK that I could only cash out or take an Annuity through the Pension provider's partner. However I wanted to take out competitive Annuity quotes from different providers, but so far no other UK Annuity provider is willing to provide a quote for a US resident. Does anyone have knowledge of any UK Annuity providers offering Annuities to US residents?

Thank you
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Old Jan 29th 2024, 2:40 pm
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Default Re: UK Pension Annuity option for US resident

Most financial institutions (of any kind) will not open accounts for US residents, so I suspect you will struggle to find any provider willing to provide an annuity. Your only option may be to cash out, or to take whatever your existing provider offers. You could of course use the funds to buy an annuity over here if you really want an annuity.
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Old Jan 29th 2024, 2:57 pm
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Default Re: UK Pension Annuity option for US resident

This .pdf document may have some useful links.....

https://static.aviva.io/content/dam/...ons/fe1067.pdf
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Old Jan 29th 2024, 7:53 pm
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Default Re: UK Pension Annuity option for US resident

Thank you. I will give Aviva a call in the morning and hopefully they can help me.
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Old Feb 7th 2024, 2:56 pm
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Default Re: UK Pension Annuity option for US resident

I tried Aviva, but they like other financial institution in UK also do not provide Annuity or other pension options. All roads lead to Legal & General for Annuity and L&G are fully aware of the circumstances by deliberately offering reduced rates to non-UK residents.

However L&G will allow me to transfer the funds to another provider. I looked at couple of offshore providers for SIPP, but not sure if that's a great option after reading their reviews. Anyone have any experience with offshore providers ?
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Old Feb 7th 2024, 3:20 pm
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Default Re: UK Pension Annuity option for US resident

Originally Posted by fazal
I tried Aviva, but they like other financial institution in UK also do not provide Annuity or other pension options. All roads lead to Legal & General for Annuity and L&G are fully aware of the circumstances by deliberately offering reduced rates to non-UK residents.

However L&G will allow me to transfer the funds to another provider. I looked at couple of offshore providers for SIPP, but not sure if that's a great option after reading their reviews. Anyone have any experience with offshore providers ?
Take a look at MyExpatSIPP: https://www.myexpatsipp.com/

I have never used them, so this is not a recommendation, but they have good reviews.
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