Protect your pension pot

Many expats have pensions scattered around the world. As you approach retirement, it's a good idea to consolidate these pensions, so that you know exactly what you have. 

A detailed review of your pension will help you to identify any tax issues and legislation changes that may affect your over-all retirement fund.

UK pension transfer to Switzerland and Europe

British citizens can also choose to transfer to an offshore pension scheme, if it is a QROPS.

Taxes could apply even in this case, and the concerned government bodies do not provide guarantees, which means you will have to make sure the benefits you are expecting from a QROPS will attach.

In the case that the scheme you are using is not a QROPS, the UK scheme could decline the transfer, or it will warrant a 40% tax rate.

This tax does not apply to people who have already applied for a transfer before last month.


If the scheme being transferred to is in a member of the European Economic Area (EEA), tax will not apply unless you do not live in the EEA, or move elsewhere within five years.

Since Switzerland is not part of the EEA, expats may chose a favourable country with a recognised QROPS scheme to carry out the transfer without tax liability. 

By having a greater understanding of your pension options, you’ll also be able to make adjustments such as; avoiding various taxes, choosing to pass it onto beneficiaries tax-free; or getting earlier access to your pension pot. To find out how to transfer your UK pension in Geneva or Switzerland, speak to one of our advisers. 

Contact your local branch


Speak to a pension specialist in Switzerland