WhiteKnight's UK Pension Advisors

Typically, 50% of your UK DB pension is passed onto your spouse upon death. If your children are your next of kin, they will only benefit if they are still classed as a dependant (Under 21 and in full-time education). 

You can’t transfer your pension to another person whilst you are alive.

If your pension is worth more than £30,000, you are legally required to consult an FCA registered financial advisor. However, when you are considering a UK pension transfer, we would always recommend you seek the advice of a professional.

This depends on the structure and vehicle you choose to hold your pension monies. Typically you can expect to be charged between 1-2% per annum as a total expense ratio (TER). 

This depends on several factors and adds to the statement - Seek professional advice before transferring your pension. 

Factors that affect your overall tax stance:

- Country of Residence 

- Double Tax Agreements (DTA's)

- Total Yearly Income

- Place of Pension 

Anyone has the right to review their pension arrangement, however, not everyone has the right to transfer their pension. Most public sector unfunded defined benefit pension arrangements are prohibited from transferring restructuring. 

If you fall outside of the government-funded public sector, you have the right to take advantage of the 2015 pension freedom act. 

For defined benefit pensions you'll see no penalty. 

For defined contribution pensions, the provider may impose an exit fee for leaving the scheme. Saying this, it is typically only with schemes set up in the '80s. The newer structures are usually free to transfer.