International SIPPs

International SIPP Platform Comparison for Expats

By QROP Direct Editorial Team · Reviewed by an independent regulated pension specialist · Reviewed 2026-06-10

International SIPP Platform Comparison for Expats

An international SIPP is a UK-registered Self-Invested Personal Pension that allows the member to manage their pension investments from abroad, receive income in multiple currencies, and remain within the UK's regulated pension framework. For most UK expats who do not meet the Overseas Transfer Charge exemption for a QROPS transfer, an international SIPP is the default — and often the best — structure for their UK pension savings.

But not all international SIPPs are equal. The platform you choose determines your investment universe, your ongoing costs, your currency options, and the quality of your reporting and service. This guide covers what to look for when comparing international SIPP platforms, the key features to evaluate, and the questions to ask before committing.

This guide provides educational information only and does not constitute financial advice or a recommendation of any specific provider. Always take regulated financial advice before selecting a pension platform.

Key Takeaways

• FCA authorisation is non-negotiable: Any genuine SIPP must be operated by an FCA-authorised SIPP operator.
• Not all providers accept all countries: Confirm your country of residence is accepted before proceeding.
• Total cost matters more than headline charges: Add all layers — administration, platform, investment funds, adviser fees.
• Currency capability is critical for expats: Confirm the platform can hold and distribute in the currencies you need.
• Investment range varies significantly: Passive ETF-focused platforms differ greatly from full self-directed platforms.
• Drawdown flexibility matters: Confirm the platform supports flexible drawdown (UFPLS, flexi-access drawdown, or annuity purchase).

What Is an International SIPP?

An international SIPP is a standard UK SIPP — a registered pension scheme under HMRC rules — operated by an FCA-authorised provider that specifically accommodates overseas-resident members. The "international" label is not a regulatory category; it is a commercial description indicating the provider accepts and services members living abroad (Source: FCA, fca.org.uk, 2026).

Key features that distinguish an international SIPP from a standard UK retail SIPP:

• Overseas member servicing: Online portals, documentation, and support designed for members who cannot easily attend UK offices
• Multi-currency capability: Ability to hold investments and distribute income in non-GBP currencies
• Global investment access: Investment menus that include internationally listed funds and ETFs, not just UK-listed vehicles
• DTA-compatible reporting: Ability to produce documentation supporting DTA exemption claims (for stopping UK withholding tax)

Core Features to Compare

1. Charges and Total Cost

The total annual cost of an international SIPP has multiple layers:

For a £200,000 SIPP, a 0.3% administration fee = £600/year. A flat-fee structure (e.g. £350/year) becomes more cost-effective as fund values grow.

Key comparison point: Does the platform cap its percentage fees at a maximum? A 0.3% fee with a £750 annual cap is significantly better than uncapped 0.3% for larger funds.

2. Investment Range

International SIPPs vary significantly in how broad their investment menu is:

• Platform-restricted SIPPs: The SIPP operator restricts investments to a specific platform's fund range — typically institutional fund providers, Vanguard, BlackRock, or similar. Lower cost, simpler, suitable for most expats.
• Self-directed / full SIPP: Members can invest in a wider range including direct equities, ETFs across multiple exchanges, commercial property (via funds), alternative assets. Higher flexibility, higher potential complexity and cost.

For most expats seeking growth and income in retirement, a platform-restricted SIPP with access to a range of passive ETFs and multi-asset funds is sufficient and more cost-effective.

3. Multi-Currency Capability

A critical feature for expats is the ability to hold assets and receive income in currencies other than GBP:

• GBP-only platforms: All holdings and distributions are in GBP. The member manages currency conversion externally. Simpler and often cheaper, but exposes the member to ongoing conversion costs.
• Multi-currency platforms: Can hold EUR, USD, AUD, CHF, and other currencies within the SIPP. Income can be paid in the currency of the member's choice. More complex but reduces ongoing conversion risk.

The right choice depends on your currency of expenditure. A Spain-based expat spending euros benefits more from a EUR-capable platform than one who plans to return to the UK.

4. Drawdown Flexibility

Under UK pension freedoms, from age 55 (rising to 57 in 2028), SIPP members can access their pension in several ways:

• Pension Commencement Lump Sum (PCLS): Up to £268,275 tax-free (the LSA in 2026), with the remainder designated to drawdown
• Flexi-access drawdown (FAD): Regular or ad-hoc income withdrawals from a drawdown fund
• Uncrystallised Fund Pension Lump Sum (UFPLS): Each withdrawal is 25% tax-free and 75% taxable
• Annuity purchase: Exchange fund for guaranteed income

Confirm the platform supports all these options, not just one. Some lower-cost SIPP platforms restrict to drawdown only and do not support annuity purchase.

5. Country Acceptance

Not all international SIPPs accept members in all countries. Common restrictions:

• USA residents: FATCA compliance requirements mean many providers won't accept US-resident members. Those that do typically charge additional compliance fees.
• Sanctioned countries: Members resident in OFAC-sanctioned jurisdictions are typically excluded.
• Some Middle Eastern and Asian jurisdictions: Some providers have specific restrictions based on local securities laws.

Always confirm country acceptance in writing before initiating a transfer.

6. Online Access and Reporting

For expats who cannot visit UK offices, the quality of online access matters:

• Can you view holdings, valuations, and transaction history online?
• Can you initiate income withdrawals online, or does it require paper forms?
• Are annual statements produced automatically?
• Can you produce documentation suitable for a DTA exemption claim?

7. Transfer Process

Transferring an existing pension (SIPP, workplace pension) into an international SIPP requires:

• A completed transfer request form
• The ceding scheme's agreement (and a transfer value quote)
• For DB transfers above £30,000: regulated financial advice (legally required)
• Typical transfer timeline: 4–12 weeks

The receiving platform should guide you through the process. Some platforms assign a dedicated relationship manager for the transfer period.

Questions to Ask Any SIPP Provider

1. Are you FCA-authorised as a SIPP operator? (Verify on the FCA register)
2. Do you accept members resident in [your country]?
3. What is the all-in annual cost for a fund of my size?
4. Which currencies can I hold investments in? Which currencies can income be paid in?
5. What is the investment menu — full self-directed, or platform-restricted?
6. Can you support flexi-access drawdown from abroad? What documentation is needed?
7. What is the transfer-in process and typical timeline?
8. Is there a cap on percentage-based fees?
9. Do you produce documentation for DTA exemption applications?
10. What happens to my SIPP on death — can I nominate beneficiaries online?

Our International SIPP explained guide covers the structure in full. For the comparison with QROPS, see our QROPS vs International SIPP guide.