iPensions Group has launched a new Irish transfer service for Sipps. This new proposition will enable Irish expatriates and those with Irish pension benefits to consolidate Irish, UK and other overseas pensions into a single plan.
This proposition offers expats flexibility on retirement planning and can provide currency choices, as well as access to wider investment options and discretionary fund managers.
However this services is only be available to individual who are resident or employed in the UK, or for those who have others reasons to transfer that are acceptable to the Irish Revenue. Those using this service will need Irish Revenue approval of the transfer, as rules exist to stop people circumventing Irish pension tax rules.
Group CEO Sandra Robertson says: “Demand for the transfer service has come from advisers looking for solutions which will enable them to support Irish expats and individuals who have previously worked in Ireland and now reside in the UK.
“Leveraging our in-house experience and knowledge on Irish pensions, we have developed a transfer service which provides the flexibility of SIPPs to people with Irish pension benefits as well as providing an opportunity to get independent financial advice on their retirement options.”
iPensions Group has made significant investments in technology as part of its growth strategy and has recently launched an adviser portal designed to save time on administration and provide round-the-clock access to client information. The new adviser portal enables advisers to complete the SIPP application process within minutes.