| SIPP | QROPS | |
| Investment of Pension Fund - Options? | Prescribed Range of Investments Available - subject to UK HMRC restrictions | Inherently Greater Flexibility - freedom of investment choice & access to full range of world wide listed equities/commodities |
| Pension Tax | Benefits Paid Net of Tax - UK HMRC tax rules apply | Benefits Paid Gross - the full benefits are paid, without tax. You may still be liable for tax, depending upon where you live! |
| How Can You Take Benefits? | ||
| From Age 55 | 25% Tax Free Lumpsum | Up to 30% Tax Free Lumpsum - conditions do apply |
| Before Age 75 | Unsecured Pension - leave balance invested & draw income which is set by UK GAD actuarial rates. | Income Drawdown Available subject to Trust/Jurisdiction rules |
| After Age 75 | Alternatively Secured Pension - leave balance invested & draw income which is limited to 90% of income rate set by UK GAD actuaries for a 75 year old | Income Drawdown Available subject to Trust/Jurisdiction rules |
| After Age 50 (Age 55 after Apr 2010) | Option to Purchase Annuity to draw an income | No Need to Purchase Annuity |
| What Happens If You Die? | ||
| Inheritance Tax Free | No | Yes |
| BEFORE Age 75 & AFTER Taking Benefits | 35% Tax Payable | 0% Tax Payable |
| AFTER Age 75 & AFTER Taking Benefits | 82% Tax Payable | 0% Tax Payable |
| What's Suitable For Your Residency Status? | ||
| Non-Expat | Yes | No |
| Expat | No | Yes |