UK stakeholder pension

[Bobba]

I have a stakeholder pension in the UK (with Scottish Widows). Can I transfer this to a similar pension account in Japan?
I’ve been living in Japan for more than 10 years, and have permanent residency.

[beanhead]

Looks complicated.
This may be useful info:
https://www.harrisonbrook.co.uk/transfe ... ion-japan/

[adamu]

being part of a large pension plan either personal or through work means the funds are managed on mass. The result is that the portfolio is not bespoke to your ongoing requirements and as such can result in your funds being down when you need them most.

I think the kind of bespoke plan they are thinking of are the ones where the financial industry make huge gains on your investments while you take all the risk and don't necessarily get a reward...

I watched someone sell off their pension on "regulated" advice. They paid 0.5% annual fee (about, I don't remember the exact figure) to the adviser on the investment henceforth, and it performed worse than an index fund

[beanhead]

I think the kind of bespoke plan they are thinking of are the ones where the financial industry make huge gains on your investments while you take all the risk and don't necessarily get a reward...

I watched someone sell off their pension on "regulated" advice. They paid 0.5% annual fee (about, I don't remember the exact figure) to the adviser on the investment henceforth, and it performed worse than an index fund

Agreed. Not recommending their services, obviously. That site just has some info on QROPS which could be helpful to Bobba.

[Bobba]

Thanks Beanhead and Adamu. That QROPS scheme looks complicated, but I’ll do some more research.
Tempted to leave the pension as it is for now, and take at least 25% as a lump sum at the earliest chance possible (age 57).

Guess I'll have to consult an English speaking financial advisor and/or accountant at some point. Do you know of any who have expertise in this area (UK stakeholder pensions)? I'm based in Kyoto-fu, so Kansai based ones are preferable.

[cru42]

Thanks Beanhead and Adamu. That QROPS scheme looks complicated, but I’ll do some more research.
Tempted to leave the pension as it is for now, and take at least 25% as a lump sum at the earliest chance possible (age 57).

Guess I'll have to consult an English speaking financial advisor and/or accountant at some point. Do you know of any who have expertise in this area (UK stakeholder pensions)? I'm based in Kyoto-fu, so Kansai based ones are preferable.

Have you checked that you can take a 25% lump sum?

I have a DC private pension from my UK company days with a major UK insurance company.

Over the years their website allowed me to select options such as a lump sum payment, a request for annuity quotes etc. but when I was age-eligible and clicked confirm they blocked the request on account of my non-UK residence status. I am a British citizen. They confirmed in writing that my only option (with them) was to withdraw 100% of the funds OR transfer to another provider (there seem to be a few companies who offer international SIPPs. I have not researched their offerings in detail.)

[Bobba]

Thanks for the info cru42. I haven't double checked with the pension company yet, but I will in due course.