Pension types we work with
Optimisation of pension schemes
There is a broad range of pension types in the UK and at PX we are able to consider the full range of pension plans, as well as international options.
Whether it’s just getting a handle on what you have already or assessing whether something needs to be changed PX will provide advice across this wide range of scenarios and when it’s the best fit, our pension transfer services can help ensure the pension benefits are moved to the most suitable place to set you up for retirement.
UK pension schemes
We have full regulatory permissions from the FCA to advise on and all types of UK pension schemes. .
Depending on your circumstances you may have one or more of these pension types:
- Final salary / Defined Benefit pensions
- Occupational Money Purchase / Defined Contribution schemes
- Personal pensions
- SIPPs
- Drawdown pensions
- Annuities
- Section 32 policies
- Guaranteed annuity rate (‘GAR’) pensions
- Stakeholder pensions
Where it’s appropriate any recommendation to transfer/exchange a pension will be advised by us and follow all the Regulator’s guidelines.
International pension schemes and QROPS
We are able to consider all the pension scheme types above when offering pension advice, as well as international options, such as:
- Qualifying Recognised Overseas Pension Schemes (QROPS)
- Superannuation funds
We consider our international clients’ residence situation as well as non-UK tax residents. We also consider a range of non-UK offshore pension jurisdictions.
Other specialities
We are often asked to provide advice on certain more complex situations. These extra services are available for UK nationals as well as our international clients (excluding US residents) and include:
Lifetime Allowance planning
The UK has a maximum Lifetime Allowance pension benefit which is just over £1 million. Where a pension exceeds, or is due to exceed this amount, specific planning is required so that you can minimise excess taxation.
Pensions on divorce
There are a few different ways in which pensions can be split on divorce. PX Pension Exchange is able to advise on these scenarios for UK-based and international clients.
Estate planning
Understanding the ramifications of maintaining UK pensions following the death of the pension holder. This includes inheritance tax consideration.
State pensions
We are often asked to provide information on how an individual’s state pension benefits will change over time.