Should I transfer my UK pension to a QROPS or a SIPP?
Working in the United Kingdom has several benefits like better work-life balance, work pay, and work opportunities. In the UK, there are different types of pension and retirement benefits that you may get. Many people work abroad, but for their retirement return to India. While the lifestyle of the UK is appealing, India is where their heart is. If you are someone who plans to move to India after retiring then, you must figure a way to bring home the pension that you are entitled to, isn’t it? Let’s find out how: You have two ways to transfer your UK pension account into term plans : To a QROPS (Qualifying Recognized Overseas Pension Scheme) in your new country of origin SIPP (usually used by non-UK residents and ex-pats) But which one is the right one and what are their benefits, it’s time to find out: Up until now, QROPS was seen as the better option amongst the two, ...