International Sipp launches for UK expats

International Sipp launches for UK expats

Trireme Pension Services has launched a self-invested personal pension (Sipp) which is specifically designed for UK nationals living abroad and will be administered by Hartley Pensions.

The Malta and Guernsey-based provider said it decided to enter the UK pension space following adviser requests for an international Sipp for their British expat clients.

The pension product has no minimum or maximum investment and accepts transfers from other UK-registered plans as well as personal contributions.

The Sipp is available now for paper applications with full online capability available later this month. 

James King, managing director of Trireme Pension Services (Malta), said: “In an increasingly complex environment for UK expats in particular, Trireme provides access to a quality Sipp.

"We look forward to working with existing and new adviser relationships to promote the Trireme International Sipp to their UK expat clients."

However, the provider warned it could not provide tax or investment advice, or discuss the appropriateness of the plan, so clients should seek financial advice before applying.

The underlying UK trustee services and administration of the Sipp will be provided by UK-based Sipp provider Hartley Pensions.

Michael Baber, technical director at Hartley Pensions, said: “We are really pleased to be working closely with Trireme, we pride ourselves on establishing and maintaining long-lasting relationships with our business partners and clients by providing them with professional, friendly and personalised administration services. 

“Our products are designed to be flexible, straight-forward and relevant to our clients’ needs.”

Hartley Pensions is known for snapping up a number of failing Sipps' client books in recent months.

In September, Berkeley Burke’s administrators announced that the Sipp arm of the business would be sold out of administration in a pre-pack deal with Hartley Pensions.

This came after the company bought the £130m client book of GPC Sipp in August, which entered into administration after it was embroiled in hundreds of customer claims.

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