Service
UK Pension Transfers.
The transfer decision, made on the maths, not the commission.
Who this is for
People who typically come to me about this.
Persona 1
British retirees in Thailand
Have a UK pension still parked with a UK provider, may have been pitched a transfer years ago, want a second opinion on whether to act now.
Persona 2
Pre-retirement professionals
55–65, planning to retire in Thailand within five years, weighing up SIPP consolidation vs an overseas transfer.
Persona 3
Existing transferred-pension clients
Already transferred to an offshore arrangement years ago, suspect the fees may not be in your favour, want a fee-impact review.
What's involved
How the work actually plays out.
An overseas UK pension transfer is largely irreversible and often the single financial decision where expatriates lose the most money, usually because the cost of the advice is hidden inside the product. Transfers can carry significant tax implications, ongoing charges and restrictions that are not always fully explained at the outset.
The approach here is simple: give the right advice for your circumstances, even where that means recommending no transfer at all. Any remuneration, fees or commissions are disclosed in writing before you proceed, so the decision is made with complete clarity.
The decision framework
There are three categories of British expat for whom a transfer can still earn its place. There are roughly seven for whom it almost never does. Most of the work is sitting on the right side of that line.
The maths is done both ways, UK SIPP vs overseas transfer, over a realistic horizon, with the fee structures of each disclosed in writing before any product recommendation is made.
The Overseas Transfer Charge
Since 2017, a UK pension transferred to a non-EEA QROPS by a person who is themselves not resident in that QROPS jurisdiction attracts a 25% Overseas Transfer Charge. That single rule removed QROPS from consideration for most British expats in Thailand overnight.
The OTC interacts with residency status, jurisdiction of the receiving scheme, and the type of UK pension being transferred. I walk you through where exactly your circumstances sit.
The 2024 Thai remittance change
The 2024 reinterpretation of Section 41 of the Thai Revenue Code closed the prior-year remittance loophole. Pension income remitted to Thailand by a Thai tax resident is now potentially assessable for Thai personal income tax in the year it arrives. The transfer decision now has to be made with this rule fully in view.
Common mistakes
Where this most often goes sideways.
Taking the advisor’s recommendation at face value when the advisor is paid by the transfer.
A commission-based advisor recommending a transfer is recommending the transaction that pays them. The structural conflict cannot be addressed by the individual advisor, only by the fee model. Always ask, in writing, exactly how the advisor is paid on this specific transaction.
Comparing fees only at the headline rate.
A 1.5% pa platform fee versus 0.45% pa looks like a 1% difference. Over twenty years it is the difference between £224k and £70k of cumulative fees on the same starting pot. Always model the twenty-year cost, not the first-year cost.
Transferring before clarifying long-term residency intent.
A transfer that makes sense for someone who will spend the rest of their life in Thailand may be a regret for someone who returns to the UK at 75. Domicile and residency intent are inputs to the transfer decision, not afterthoughts.
How I work on this
The process, in three steps.
01
Diagnose
A free 30-minute consultation. You describe the situation, I ask the practical questions, we agree what the next step looks like, or whether one is needed.
02
Cost-out both options in writing
The maths is done both ways: keeping the UK pension where it is vs the transfer alternative, over a realistic horizon. You receive a written summary with fee breakdowns.
03
Execute or stand pat
If the right answer is to do nothing, that is the recommendation. If a transfer is the right move, execution happens through regulated channels with custody arrangements that survive your residency.
Fees and what to expect
Plain-English fee transparency.
I am paid through commission on the products arranged and an ongoing fee on the assets managed. Every cost, and what it pays, is set out in writing before you decide.
You may ask what any recommendation pays me, and the figures that apply are agreed in writing in the engagement letter before you proceed.
A first 30-minute consultation costs nothing and obliges you to nothing.
Client assets are held in your own name on FCA-regulated platforms or SEC-licensed brokers, never by me.
Writing
Related reading.
- Tax
Tax · 8 min
What the 2024 Thai remittance tax actually changes for UK pensioners
The Revenue Department’s reinterpretation of Section 41 is straightforward once you read it twice. Here’s what it actually says, and what to do about it.
Read article - Pensions
Pensions · 11 min
QROPS Thailand in 2026, when it makes sense, when it doesn’t
Three categories of British expat for whom QROPS still earns its place, and one category for whom it almost never does.
Read article - Pensions
Pensions · 9 min
SIPP vs QROPS for British expats in Thailand
A direct comparison of the two, with a working through the maths.
Read article
Questions
Questions about this.
Begin a conversation.
Thirty minutes, by Zoom or in person at the Bangkok, Hua Hin or Pattaya office. Free, and without obligation. You leave with a clearer view of what is in front of you, whether or not the work proceeds.
Book a meeting
Choose a time that suits you.
Thirty minutes with Richard Knight, ACSI directly. By video, phone, or in person. No obligation.
