Resources & Insights

Neil Robbirt on Choosing Between a QROPS and an International SIPP

By QROP Direct Editorial Team · Interview with Neil Robbirt, Chairman of Global Investments Group · Reviewed 2026-06-16

Neil Robbirt on Choosing Between a QROPS and an International SIPP

The following is an interview with Neil Robbirt, Chairman of Global Investments Group. His views are provided for general education and information only and are not personal financial, tax or legal advice. The right structure depends entirely on your circumstances and country of residence, and the rules can change. Always take regulated advice before transferring a pension.

QROP Direct: When a client asks "should I use a QROPS or an International SIPP?", how do you begin?

Our starting point is always to refuse to answer that question as asked — because the honest answer is "it depends," and the things it depends on are the whole point. The questions that frame any comparison are: where is the client tax resident, and where do they realistically expect to be in ten and twenty years? Do they intend to return to the UK? What is the double taxation agreement between the UK and their country of residence, and how does it treat pension income? What type of pension is involved, and how large is it?

Only once those are on the table can you have a sensible conversation. People want a single rule of thumb, and there isn't one. What we consistently observe at Global Investments Group is that for a large proportion of expats, the International SIPP is the natural starting point, and the burden of proof is on the QROPS to demonstrate why it is better.

QROP Direct: Why is the International SIPP the starting point for so many people?

Two reasons, mainly. First, it remains a UK-registered pension, so moving into one does not trigger the Overseas Transfer Charge. That 25% charge is the single biggest tax risk in this whole area, and an International SIPP simply sidesteps it. Second, it keeps you inside the UK regulatory framework, which is more robust and more consistent than many of the offshore alternatives, while still giving you multi-currency investment, online access and flexibility from abroad.

For someone who might return to the UK, or who lives in a country with a strong tax treaty, or who simply values UK regulation and reversibility, the International SIPP often does everything they need without the complexity or the charge exposure of going offshore.

QROP Direct: So when does a QROPS genuinely make sense?

For someone who is genuinely settled overseas for the long term, has no realistic intention of returning to the UK, and is resident in a jurisdiction where a transfer is exemption-eligible and delivers a real, identifiable advantage — whether that's around tax treatment, currency, or estate and succession planning. There are clients for whom a QROPS in the right jurisdiction is the better structure, and we do recommend them in those cases.

But the test has to be rigorous. A QROPS transfer is hard to undo, it carries a ten-year HMRC reporting window during which a change in your circumstances can have consequences, and if you get the residency position wrong you can walk straight into the 25% charge. So a QROPS should never be the default; it should be the conclusion of a proper comparison that shows it beats keeping a UK SIPP for that specific person.

QROP Direct: The Overseas Transfer Charge changed in 2024. How has that shifted the decision?

Significantly. Before 30 October 2024 there was a broad exemption for transfers to schemes in the EEA or Gibraltar, and a lot of planning relied on it. That blanket exemption was removed. The position now is essentially a residency match: to avoid the 25% charge, you generally need to be tax resident in the same country in which the QROPS is established.

The practical effect is that some structures that used to be routine — a UK expat living in one EU country transferring to a Malta or Gibraltar QROPS, say — can now trigger the charge unless the residency lines up. We saw people in the months after the change who had started transfer paperwork on the old assumptions. The lesson is to verify the Overseas Transfer Charge position against current HMRC guidance at the point of transfer, not against what was true a year ago. The International SIPP, by avoiding the charge altogether, has become relatively more attractive as a result.

QROP Direct: What are the most common misconceptions you encounter?

The biggest is the idea that a QROPS is inherently more "tax-free" or more advanced, and a SIPP is the lesser option. That's simply not how it works. They're different tools for different situations. A second misconception is that "taking your money out of the UK" is a goal in itself — it isn't; the goal is the right after-tax outcome for your life, and very often that's best achieved within the UK system.

The third, and the most dangerous, is underestimating the importance of country of residence. The same transfer can be sensible for an expat in one country and a costly error for an expat in another, purely because of the tax treaty and the residency position. Anyone comparing the two structures on the basis of the products alone, without anchoring it to where they actually live and intend to live, is doing it backwards.

QROP Direct: A final, practical thought for someone weighing this up?

Don't start with the product; start with a comparison. Insist that your adviser shows you, in writing, the case for keeping your existing UK pension or moving to an International SIPP alongside the case for a QROPS — with the tax, the charges, the Overseas Transfer Charge position, and the reversibility all laid out. If a transfer to a QROPS is genuinely right for you, that comparison will show it clearly. If an adviser won't produce that comparison, that tells you something important in itself.

Summary: Framing the QROPS vs International SIPP Decision

1. There is no universal answer — it depends on residence, return intentions, pension type and treaties
2. The International SIPP is the usual starting point — UK-regulated and not subject to the Overseas Transfer Charge
3. A QROPS suits settled, long-term non-returnees in exemption-eligible jurisdictions with a clear advantage
4. The 2024 OTC change matters — the main exemption is now residency in the QROPS country
5. Verify the OTC position at the point of transfer, against current HMRC guidance
6. Insist on a written comparison before any transfer — and remember a QROPS is hard to reverse