MyExpatSIPP was founded in 2017 to service a niche but growing market of individuals who have worked in the UK and built up benefits in a UK pension scheme, but have now left the UK and reside overseas or are planning to move in the not too distant future.
We realised that many of these expats and non-UK residents were unsure what to do with their pension in the UK, or had already transferred their pension on the advice of an "Offshore Financial Adviser" to an expensive SIPP or QROPS with high charges, hidden commissions and 10 year lock in periods.
We wanted to give expats and non-UK residents the option of managing their own pension using a modern, flexible, online pension plan with simple, fair and transparent fees together with an excellent personal service from an FCA authorised and regulated company.
MyExpatSIPP is directly authorised and regulated by the Financial Conduct Authority in the UK (ref: 805568). This means that we're subject to strict rules and regulations about the way we conduct business with you.
A benefit of our UK regulation is that you will be covered by the Financial Services Compensation Scheme (FSCS). This means that if something happens to us or the companies that manage your money, you may be eligible to receive compensation from the FSCS, even if you're not resident in the UK.
All client money on our Platform is held by an independent third party custodian and is ring-fenced and segregated from our own assets in accordance with the FCA’s client money rules. The custodian is a member of the London Stock Exchange and CREST, with sub-custody agreements in place with Deutsche Bank and FNZ. Cash is held in client money accounts with the Bank Of Scotland Plc.
As we do not hold client money, in the very unlikely event that the MyExpatSIPP business fails, you as a customer will not suffer financially. Any creditors of MyExpatSIPP would have no legal right to your money and we cannot use any of this money to cover MyExpatSIPP's obligations.
The technology system powering the MyExpatSIPP Platform is used to administer over £40bn of client assets. The system is hosted in a private cloud in a top-tier UK-based data centre, protected by 24-hour CCTV, security guards and robust physical and virtual access control procedures. The system has 24/7 active monitoring, dual-firewalls from different vendors and an Intrusion Prevention System. Disaster Recovery is provided via a continuous replication method to a geographically separate data centre.
The service that we give to our clients is at the core of what we do. We take the time to explain your options in plain english, without the typical pensions jargon.
We don't operate a call centre, so whenever you need anything, your Account Manager will be on hand to answer your queries and provide the ongoing support and guidance you need to stay in control of your pension.
Cameron has been working in the Financial Services industry since 2008 and has held roles with international pension providers in the UK, Middle East and Australia. He is a qualified Financial Adviser and Pension Transfer Specialist in the UK with various qualifications from the Chartered Insurance Institute.
If you have any questions, please get in touch and one of our friendly team will be able to help.