Uw pensioen overdragen naar een SIPP: de stappen, de kosten en wat u kunt verliezen

Dit artikel is nog niet in het Nederlands vertaald; de vertaling volgt binnenkort. Hieronder leest u de Engelse versie.

You normally start a SIPPSIPP (persoonlijk pensioen dat u zelf belegt)Een in het Verenigd Koninkrijk geregistreerd persoonlijk pensioen met een ruime keuze aan beleggingen. Een 'internationale SIPP' is hetzelfde Britse product, aangeboden aan mensen die in het buitenland wonen. transfer by applying to the new SIPP provider, who then contacts your current provider ¹. The form is the easy part. The real work comes before you sign: get your transfer value, check for guarantees and exit charges, and confirm the SIPP will accept your pension ¹. That is the position as of October 2026.

How does a SIPP transfer work, in short?

A SIPP transfer moves your pension pot from one UK scheme into a self-invested personal pension. That's a personal pension where you pick the investments yourself. You apply to the new provider, and it asks your old one to send the money over ¹.

For the tax side to work, HMRC needs the move to be a "recognised transfer". That's jargon for a transfer made directly to another registered pension scheme or a QROPSQROPS (qualifying recognised overseas pension scheme)Een buitenlandse pensioenregeling die een overdracht uit een Brits geregistreerd pensioen mag ontvangen. In de sector is dit nog steeds de gangbare term, hoewel de Britse belastingdienst HMRC tegenwoordig ROPS zegt. and held to provide benefits for you ⁴. A QROPS is an overseas pension scheme that meets HMRC's conditions. If the transfer isn't a recognised transfer, an unauthorised-payment charge can apply ⁴. Check the route before any money moves.

What are the steps, and how long does it take?

There are four main steps, and most of the effort goes into the first two. How long it all takes depends on your providers and what you hold. The sources behind this guide don't give a standard timescale.

The cash-or-in-specie choice is worth a minute. With a cash transfer, your investments are sold and the money moves as cash, so you may be out of the market for a while ¹. With an in-specie transfer, eligible investments can stay invested, but the new platform may not support every holding you own ¹. In-specie is Latin for "in kind", which pensions people say instead of "as they are".

Ask the new provider which of your current holdings it can accept before you choose.

What will it cost me?

A SIPP transfer can cost you in fees and in time out of the market, and both depend on your old scheme and your new one. The safest approach is to ask each side the same questions in writing before you commit.

That last question matters. The FCA rulebook bans contingent charging for pension transfer advice ⁶. Contingent charging means an adviser gets paid only if you transfer, which rather tilts the advice.

Waar zitten de grijze gebieden?

Some points around a SIPP transfer get misread because the answer depends on where you live and on rules in two countries at once. Here's how strong each position is, and what could happen if you get it wrong.

The first two rows are rules you can check in HMRC's guidance and the evidence above, and people still trip over them. The last two are less clear-cut and depend on your own facts. Treat all four as questions to settle with an adviser before you move money, not after.

What could I permanently lose by transferring?

Transferring can mean giving up guarantees, such as guaranteed annuity rates and other retirement or death-benefit terms ⁵. Once the money has left the old scheme, those features may not be recoverable, so check what you would be giving up first.

Check these features on your current pension before you apply.

A pot with a guarantee attached is a bit like a rent-controlled flat. Before you hand in the keys, it's worth checking what you would be giving up ⁵.

If any of your pension is safeguarded, check the SIPP's rules early. Some providers won't accept safeguarded benefits at all. Others accept defined-benefit transfers only where advice confirms it's in your best interests ².

When do I have to take regulated advice?

If your pension includes safeguarded benefits (guaranteed income, such as a final salary pension) with a transfer value over £30,000, you generally must take appropriate independent advice before you can transfer ³. Your old scheme's trustees must check that you took it before they let the money go ³.

The "transfer value" is the cash sum your scheme offers in exchange for giving up your guaranteed benefits. The official name is the cash equivalent transfer value, which is a mouthful, so most people just say transfer value.

The adviser doesn't start from neutral. They must start from the assumption that the transfer won't be suitable, and only treat it as suitable if they can clearly demonstrate it's in your best interests ³. So a good question to ask early is: "What would have to be true for you to recommend this?"

The way advisers measure this changed on 1 October 2018. The old method, known as TVAS, was replaced by appropriate pension transfer analysis (APTA) and the transfer value comparator (TVC) ⁹. The TVC compares your transfer value with the estimated cost of buying the same benefits without risk in a defined contribution pension, the kind of pot a SIPP is ⁹. In plain terms, it shows whether the cash offered could realistically replace what you're giving up.

Advisers also can't use contingent charging for pension transfer advice, meaning a fee that's only paid if you go ahead ⁶. The ban exists so the adviser's pay doesn't depend on you saying yes.

I live (or plan to live) abroad: is a SIPP still the right place?

A SIPP stays inside the UK pension system, so UK pension income may still be taxed in the UK and may also be taxed in the country where you live. The belastingverdragDouble tax treatyEen afspraak tussen twee landen over wie waarover belasting mag heffen, zodat u over hetzelfde inkomen niet twee keer volledig belasting betaalt. between the two countries decides the final result.

Moving abroad doesn't, on its own, switch off UK tax. Your UK residence is decided by the Statutory Residence Test, not by a visa from your new country. A shiny residence card in Dubai or Lisbon is lovely, but HMRC doesn't count stamps in your passport.

The other route is a recognised overseas pension scheme (ROPSROPS (recognised overseas pension scheme)De term van HMRC voor een buitenlandse pensioenregeling die aan de erkenningsvoorwaarden voldoet. HMRC publiceert hiervan een lijst.), or the specific type HMRC lists as a QROPS. These are pensions set up outside the UK that can accept UK transfers. A transfer only avoids an unauthorised-payment charge if it's a recognised transfer, paid directly to another registered pension scheme or a QROPS and held to provide your benefits ⁴.

The big cost to check is the heffing bij overdracht naar het buitenlandHeffing bij overdracht naar het buitenlandEen heffing van HMRC op de overdracht van een Brits geregistreerd pensioen naar een buitenlandse regeling, tenzij een uitzondering geldt.. A transfer to a QROPS can face a 25% charge unless an exclusion applies ⁷. And even where an exclusion applies, any amount above your overseas transfer allowance can still be charged at 25% ⁷. On top of that, the scheme administrator has to report a QROPS transfer to HMRC within 60 calendar days ¹⁰.

We go through this choice in more detail in our SIPP versus ROPS guide and our QROPS guide, rather than repeating it here. If you'd like help weighing it for your own countries, that's what our pension transfers service covers.

What has changed in the rules recently?

Since April 2024 there's no lifetime allowance. The lump sum allowance and the lump sum and death benefit allowance replaced it from 6 April 2024 ¹¹. A transfer to a QROPS can be subject to a 25% overseas transfer charge unless an exclusion applies ⁷. HMRC has also published a technical note, updated May 2026, on the planned inclusion of pensions in estates for inheritance taxInheritance tax (IHT)Tax on what you leave behind when you die. In the UK it now follows long-term residence rather than domicile. ⁸.

The old lifetime allowance capped how much you could build up across your pensions before extra tax hit. It has been replaced: the lump sum allowance and the lump sum and death benefit allowance now apply instead ¹¹. Check the lump sum limits rather than a lifetime cap, and get advice on how they apply to you.

The inheritance tax change is still being finalised, and the guidance may change. If leaving money to family is part of why you're transferring, check the latest HMRC note before you decide ⁸.

How do I spot a scam or a bad transfer pitch?

A useful first step is to compare the pitch with the rules. A transfer that avoids an unauthorised-payment charge is made directly to another registered pension scheme or a QROPS and held to provide benefits for you ⁴. Advice on safeguarded benefits starts from "don't transfer" ³, and the FCA Handbook bans contingent charging for pension transfer advice ⁶. A pitch that fits these rules can still be unsuitable for you, so treat this as a starting point and take advice.

There are five checks worth running.

• Where does the money go? If it isn't a recognised transfer to a registered scheme or QROPS, you could face an unauthorised-payment charge ⁴.
• How is the adviser paid? The FCA Handbook bans contingent charging for pension transfer advice ⁶.
• Does the adviser start from yes? They shouldn't. The rules say they must start from the assumption that a transfer isn't suitable ³.
• Does it close a pension your employer pays into? MoneySavingExpert warns against closing a pension to which a current employer contributes ⁵.

If someone tells you your new visa means UK tax no longer applies, be wary. UK residence is decided by the Statutory Residence Test, not by a foreign visa, so get advice on your own position rather than assessing it yourself.

FAQ

How do I transfer a pension into a SIPP? You normally apply to the new SIPP provider, who contacts your current provider ¹. Before that, get your transfer value and check for guarantees, exit charges and whether the SIPP will accept your pension ¹.

Do I need advice to transfer into a SIPP? If you have safeguarded benefits with a transfer value over £30,000, you generally must take appropriate independent advice first ³.

Can I transfer a defined benefit pension into a SIPP? Only with advice where the £30,000 rule applies ³. Some providers accept it only if advice confirms it's in your best interests, and others won't accept safeguarded benefits at all ².

Is UK tax still due on a SIPP if I live abroad? It can be. UK pension income may remain taxable in the UK and may also be taxed where you live, with the tax treaty deciding the final result.

Does the lifetime allowance still exist? No. It was replaced from 6 April 2024 by the lump sum allowance and the lump sum and death benefit allowance ¹¹.

Wat u hierna kunt doen

Ask your current provider for your transfer value and a written list of guarantees and exit charges. If you live abroad, check both countries' tax treatment before choosing between a SIPP and a QROPS.