UK Frozen Pension Transfers

If you have a deferred - or “frozen” – pension in the UK, it is likely only being increased in line with the retail price index (RPI – or inflation). With RPI currently at 3% and investment growth of well-managed funds growing between 8% - 12% annually, your employer can (and may well) legally retain the difference.

By transferring your pension to an approved personal pension plan, you gain full control and enjoy:

• 100% of the growth

• The ability to take pension benefits from age 50, even if your pension was originally established for a retirement age of 65.

• Also, 25% of the value of your pension can be taken as a UK tax-free cash lump sum.

•  Then, the balance can either remain invested or provide an income:

  • Through the purchase of an annuity, where you relinquish your fund in return for a lifetime pension income or

  • By drawing an income from the balance that remains invested, thereby enabling your residual fund to continue to grow.

You do not have to actually retire to benefit from the above – you may continue to work.

This is a complex process and The Kent International Group, working with pension transfer experts Kestrel Pensions Administration Ltd can help you establish the value of your fund and then find the best solution, without obligation.

This service is only available to non-residents of the UK.

Please click here to fill out the form