More than 5 million UK nationals now live abroad⁴, and many are actively planning for retirement outside the UK.

Selecting the right pension structure is a crucial decision for these individuals.

An International Self-Invested Personal Pension (SIPP) can provide the control, investment flexibility, and cross-border functionality that traditional UK pensions often lack.

International SIPPs are designed to accommodate expats by allowing multi-currency investments, international fund access, and remote management, all while remaining under the regulatory protection of the UK Financial Conduct Authority (FCA)⁵.

However, with a wide range of providers available, each offering different fee models, investment options, and service standards, it can be difficult to know where to begin.

If you are planning to live or retire abroad, this guide will give you the clarity and confidence you need to choose the right provider and secure your financial future.

What Is a Self-Invested Personal Pension (SIPP)?

A Self‑Invested Personal Pension (SIPP) is a UK‑registered, defined contribution scheme that gives individuals full control over how their retirement savings are invested.

Regulated by the UK Financial Conduct Authority (FCA), SIPPs allow holders to choose and manage a broader selection of assets than standard pensions⁶.

You can include in a SIPP:

• UK and international stocks and shares, exchange-traded funds (ETFs), and mutual funds⁷
• Government and corporate bonds
• Real estate, including commercial property and REITs⁸
• Cash holdings and structured financial products

SIPPs are commonly used by savvy investors or those working with advisers who want a proactive and personalised approach to retirement planning.

They provide a hands-on route to tailoring investment strategy to match long-term goals and changing market conditions.

Why Do Expats Choose International SIPPs?

International SIPPs are increasingly popular with UK expats because they offer the flexibility and global scope that traditional pensions lack.

These plans are designed for internationally mobile individuals who want to manage their pensions with greater control, currency efficiency, and access to global investments.

Key Reasons They Appeal:

• Tailored for Non-UK Residents
  International SIPPs are structured specifically for expats who have moved abroad but still want to benefit from a UK-regulated pension. They allow full investment control, remote access, and flexible drawdown options⁹.
• Global Investment Flexibility
  Investors can access a broader range of global assets, including overseas ETFs, international equities, and offshore funds, enabling better alignment with local and global economic conditions¹⁰.
• Multi-Currency Management
  Many international SIPPs offer the ability to hold and withdraw funds in multiple currencies (such as GBP, USD, and EUR), helping to reduce FX costs and manage currency risk effectively¹¹.
• Portability and Consolidation
  These pensions are ideal for consolidating multiple UK pensions into a single, manageable fund, with online platforms that make it easy to track and adjust holdings from anywhere in the world¹².

What Are the Key Benefits of International SIPPs?

International SIPPs offer several clear advantages for expats seeking retirement flexibility, tax efficiency, and investment control.

Key Benefits

• Global Investment Access
  International SIPPs allow you to invest in a diverse global range, including ETFs, mutual funds, international equities, bonds, and commercial property, all suited to individuals living or retiring abroad¹³.
• Multi-Currency Accounts
  You can hold and withdraw funds in major currencies such as GBP, USD, and EUR. This reduces exchange costs and helps manage currency risk¹⁴.
• Greater Portability and Consolidation
  These pensions make it easy to consolidate several UK pension pots into a single account and manage everything remotely, which is ideal for those relocating between countries¹⁵.
• Cost-Effective Compared to QROPS
  Annual fees can start around £180, significantly lower than many QROPS plans, which often exceed £1,000 annually¹⁶.
• FCA Regulation and FSCS Protection
  International SIPPs remain under the oversight of the UK Financial Conduct Authority and are covered by the Financial Services Compensation Scheme, offering peace of mind¹⁷.
• Tax Efficiency Abroad
  Many expats benefit from tax-free pension withdrawals in the UK using an NT tax code, with local taxation applying depending on the country of residence¹⁸.
• Estate Planning Flexibility
  International SIPPs can provide more efficient ways to pass on pension funds, often allowing 100 percent of the fund to be left to beneficiaries outside of UK inheritance tax rules¹⁹.

For expats seeking long-term pension control and cross-border efficiency, an International SIPP offers one of the most robust and versatile solutions available.

What Are the Risks and Drawbacks of International SIPPs?

While International SIPPs offer flexibility and tax efficiency, they are not without their challenges.

Investors must consider the potential downsides carefully before committing to a plan.

Key Drawbacks

• Complex Cross-Border Taxation
  Tax treatment depends heavily on your country of residence. Without a double taxation agreement or clear local guidance, you could risk paying more than expected²⁰.
• Higher Costs and Adviser Fees
  Compared to standard UK pensions, International SIPPs often involve extra costs, such as setup charges, annual admin fees, and platform or adviser commissions, that can impact your returns over time²¹.
• Currency Fluctuation Risk
  Holding your pension in a different currency than you spend in can erode value during withdrawals if exchange rates move unfavourably²².
• Regulatory Uncertainty
  Both UK and local pension laws can change. A shift in access age, withdrawal rules, or tax treatment could impact your plan's efficiency or legality²³.
• Lifetime Allowance Monitoring Still Advised
  Although the UK lifetime allowance has been abolished, investors with large pension pots should stay informed about future reforms that could reintroduce limits in a different form²⁴.

Despite their advantages, International SIPPs come with risks that can affect returns and compliance.

Understanding these challenges and seeking tailored advice is key to making an informed decision.

Read More: How Safe is My SIPP

How Does an International SIPP Compare to a UK SIPP?

Although legally identical and both regulated by the UK’s Financial Conduct Authority, International SIPPs are purpose-built to meet the needs of individuals living abroad, while standard UK SIPPs are tailored for UK residents²⁵.

Key Differences

• Residency Eligibility
  Standard UK SIPPs typically require a UK address and often restrict ongoing management for non-residents. In contrast, International SIPPs are tailored for expats, allowing remote management after leaving the UK²⁶.
• Currency and Payment Options
  Standard SIPPs usually only operate in GBP and make pension payments to UK‑based bank accounts. International SIPPs allow payments in multiple major currencies and support transfers to overseas accounts²⁷.
• Investment Platform Availability
  UK SIPPs may close or limit access for non-residents, sometimes restricting investment choices. International SIPPs offer broader global fund and market access specifically designed for expat portfolios²⁸.
• Drawdown Flexibility
  Offshore SIPP plans maintain full flexi-access drawdown regardless of residence, while standard providers may revoke this benefit if the investor moves abroad.

In reality, both types are UK-regulated and allow a wide range of investments.

The main advantage of an International SIPP lies in its flexibility, especially for currency handling and ability to manage from overseas.

If you reside outside the UK or plan to do so, choosing an International SIPP ensures ongoing access and avoids potential service limitations.

What Is the Difference Between an International SIPP and a QROPS?

An International SIPP (Self-Invested Personal Pension) and a QROPS (Qualifying Recognised Overseas Pension Scheme) are often mentioned together in expat retirement discussions, yet they serve distinct purposes.

An International SIPP allows UK nationals living abroad to retain their UK-based pension under one UK-regulated plan, benefiting from familiar management structures and transparency ²⁹.

In contrast, a QROPS involves transferring a UK pension into an overseas pension scheme, usually based in a low-tax jurisdiction.

The primary advantage of a QROPS can be access to local tax benefits not available through UK-domiciled pensions, especially in countries with favourable tax treaties ³⁰.

Despite this, QROPS often come with higher upfront transfer fees, complex regulatory oversight, and ongoing compliance requirements.

International SIPPs, on the other hand, tend to be simpler to manage, with lower administrative costs and fewer eligibility hurdles, making them particularly attractive for expats who prefer to maintain their pension within the UK framework ³¹.

Who Are the Best International SIPP Providers for Expats?

Novia Global UK SIPP stands out as a top option, offering access to over 7,000 investment funds, flexible currency capabilities, and ongoing access to discretionary fund managers (DFMs). It features a transparent flat annual fee of around £216 plus platform charges, making it highly competitive in the expat market ³².

MES Pensions delivers an intuitive digital platform tailored for non-UK residents. It allows full multi-currency drawdown, streamlined Origo-powered transfers, and a broad investment menu. Users can consolidate multiple pensions swiftly, with different fee tiers for basic or full investment options ³³.

PSG/Harbour International SIPP has earned positive feedback for its strong customer experience and reliable onboarding process for international clients³⁴.

While fee structures are bespoke, their service quality has been praised in expat-focused reviews.

Although there is no single “best” provider for everyone, Novia Global, MES, and PSG are frequently recognised for their combination of cost-effectiveness, currency flexibility, and reliable service for expatriates.

Which UK-Based SIPP Providers Offer the Best International Options?

Several UK-based SIPP providers stand out for their international offerings:

• Novia Global UK SIPP
  The lowest-cost international SIPP currently available, with a £180 annual fee plus VAT³⁵. It offers multi-currency access, investment in over 7,000 funds, and full FCA regulation.
• Hargreaves Lansdown International SIPP
  A well-known provider that supports non-UK residents who set up before moving abroad. Annual charges are tiered: 0.45% on the first £250,000, reducing to 0.25% for £250k–£1m, then 0.10% up to £2m³⁶.
• STM International Pension Plan (London & Colonial)
  Offers price flexibility with either a fixed annual fee or pay-as-you-need structure, appealing to expats who want to customise costs based on service usage.

International SIPPs differ widely in terms of pricing, features, and accessibility for expats, so shortlisting a few top contenders based on your residency and investment needs is crucial.

How Should You Compare International SIPP Providers?

When selecting an International SIPP provider, consider both practical functionality and long-term strategy.

The table below highlights the most important factors:

Comparison Factor	What to Look For
Regulatory Compliance	FCA regulation and FSCS protection ensure legal security and investor protection.
Fee Structure	Transparent setup, annual, platform, and dealing fees. Avoid hidden charges.
Investment Options	Access to global equities, ETFs, mutual funds, and property.
Currency Flexibility	Ability to hold and withdraw in GBP, USD, EUR, and other major currencies.
Customer Support	Responsive service with international client support hours and knowledgeable staff.
Online Tools & Account Access	User-friendly platforms with remote management, mobile apps, and real-time data.
Tax Guidance	Expertise in expat tax issues, NT tax code usage, and treaty application.
Portability & Flexibility	Smooth transfers, remote consolidation, and flexible drawdown across borders.
Reputation & Reviews	Positive expat-specific reviews and service consistency from existing clients.
Financial Strength	Solid financial backing and history of reliability for long-term pension stability.

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Choosing the right International SIPP provider requires balancing cost, currency access, and platform flexibility with strong governance and client support.

Align these features with your personal goals and speak to a regulated adviser to ensure a secure fit.

How Can You Set Up an International SIPP from Abroad?

Setting up an International SIPP remotely is a straightforward, step-by-step process that typically involves provider research, application, identity verification, account funding, and investment selection.

First, identify providers that support expats and compare their offerings, fees, and platform usability online.

Once you’ve selected a provider, you’ll complete an application form that collects personal details, residency information, and financial background.

As part of anti-money-laundering regulations, you’ll need to supply certified proof of identity and address, such as a passport or utility bill³⁷.

After approval, you can fund your new SIPP in multiple ways.

You may transfer money from existing UK pension schemes, including workplace or personal pots.

Most providers facilitate direct pension transfers, although consolidation into one account can take several weeks ³⁸.

Once the funds are cleared, you can begin selecting your investments using the provider’s online platform, configuring your asset allocation according to your retirement strategy.

Read About: Setting Up A SIPP

What SIPP Rules Apply to UK Expats?

UK expats can maintain or open an International SIPP and may continue contributing under certain conditions.

If you were considered a UK tax resident within the previous five years, you can still claim tax relief on personal contributions of up to £3,600 gross annually or up to 100% of your UK-relevant earnings, whichever is higher³⁹.

After this five-year window, new contributions remain possible, but they generally do not qualify for UK tax relief unless you still have UK taxable income⁴⁰.

When it comes to pension withdrawals, UK tax typically applies during payouts unless your country of residence has a double taxation agreement (DTA) with the UK.

In these cases, pensions can often be paid without UK tax deducted, deferring tax liability to the local jurisdiction⁴¹.

These rules vary by country, so expats should carefully check the specific regulations in their country of residence.

Given these nuances, it’s crucial for expats to understand how residency affects eligibility, contribution limits, and withdrawal tax treatment.

Providers often offer guidance, but speaking with a regulated financial adviser is essential to ensure compliance with both UK and local rules.

Despite friendly setup and access rules, SIPP eligibility and tax treatment change significantly after moving abroad.

Understanding contribution limits and cross-border tax obligations ensures your pension remains efficient and within legal bounds.

What Are the International Tax Implications of a SIPP?

UK-based SIPPs allow you to withdraw up to 25% of your fund as a tax‑free lump sum in the UK.

However, when you live overseas, the tax treatment of both that lump sum and your subsequent income drawdowns depends on the tax rules of your country of residence⁴².

In many locations, the 25% UK tax‑free lump sum is still respected, meaning you receive it free of UK income tax, but your country of residence may impose its own taxes on that payment⁴³.

Similarly, periodic withdrawals may be subject to taxation by your local tax authority instead of the UK.

If you contribute while a non-resident, those payments may not qualify for UK tax relief, depending on your situation and local reporting rules⁴⁴.

Additionally, some countries have transfer tax or anti-avoidance rules that treat offshore pension transfers differently from domestic options.

Because each country has its own pension and tax regulations, your International SIPP could be taxed differently depending on where you live.

Always consult a qualified pensions or tax advisor familiar with both UK and local tax systems to ensure compliance and optimise your retirement strategy.

Common Questions

Conclusion

For UK nationals living abroad or planning an overseas retirement, International SIPPs offer an attractive way to manage pension savings with flexibility, currency control, and global investment access. These plans retain UK regulatory protection while providing the tools needed to build a retirement strategy across borders.

However, they are not without complexity. Higher fees, varying international tax rules, and administrative responsibilities require careful consideration. Choosing the right provider involves more than just comparing costs, it requires evaluating regulatory status, investment flexibility, and support for expats.

Before making any decisions, seek guidance from a qualified adviser who understands both UK pension rules and the tax landscape in your country of residence. This will help you avoid costly mistakes and ensure your SIPP remains compliant and efficient.

The right International SIPP, matched to your goals and circumstances, can be a powerful foundation for long-term financial freedom abroad.