QROPS vs SIPP Calculator
What does a QROPS actually cost you against a SIPP?
Two structures, two fee loads, and one charge that only applies to one of them. Enter your pension value and see the total cost and projected net value side by side, over the years that matter.
Short answer: A QROPS transfer can trigger a 25% Overseas Transfer Charge unless the same-country exemption applies (and even then, leaving that country within 5 years can trigger it retrospectively). A UK SIPP never leaves the UK pension system, so the OTC never applies. Beyond that single charge, the real cost difference usually comes down to platform and adviser fees on each structure, compounded over your time horizon. No qualifying QROPS exists in Malaysia, Singapore, Thailand, or Vietnam, so for most SE Asia-based expats this comparison is really "SIPP vs a QROPS held somewhere else," not a free choice between two local options.
Compare your numbers
Enter your pension value once, then set the fee and growth assumptions for each structure.
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Enter a pension value and time horizon.
Beyond the Numbers
What the calculator does not price in
Why the SIPP is the default for SE Asia
- No qualifying ROPS exists in Malaysia, Singapore, Thailand, or Vietnam. Neither Malaysia's EPF nor Singapore's CPF meets HMRC's ROPS conditions.
- A SIPP stays inside the UK regulatory perimeter, so it carries none of the OTC or 5-year reporting exposure a QROPS carries.
- SIPP drawdown can access double taxation agreement relief in most SE Asia jurisdictions once the correct HMRC claim is filed.
- Investment flexibility inside a SIPP is generally wider than the fund range on legacy offshore-bond-style QROPS platforms.
Where a QROPS can still make sense
- Genuine long-term residence in a jurisdiction with a qualifying ROPS, such as Malta or Gibraltar, where the same-country exemption is durable.
- Currency redenomination needs that a GBP-denominated SIPP does not solve as cleanly.
- Estate and succession planning advantages under certain QROPS trust structures, for clients who value that over UK-regulatory continuity.
- Pension pots approaching the Overseas Transfer Allowance of GBP 1,073,100, where a same-country QROPS avoids future UK lifetime-style reporting.
Get the pension transfer decision checklist
A practical checklist covering the OTC exemptions, the 5-year rule, and the questions to ask before any QROPS or SIPP transfer.
Common Questions
QROPS vs SIPP FAQ
A QROPS (now called ROPS) is an overseas pension scheme that meets HMRC's qualifying conditions, allowing a transfer out of the UK pension system. A SIPP is a UK-registered pension that stays inside the UK regulatory perimeter regardless of where the member lives. A QROPS transfer can trigger the 25% Overseas Transfer Charge unless an exemption applies; a SIPP does not, because the funds never leave the UK system.
The Overseas Transfer Charge (OTC) is a 25% charge on the value of a UK pension transferred to a QROPS, introduced under Finance Act 2017. It does not apply if the member is resident in the same country as the QROPS at the time of transfer, but it can be triggered retrospectively if the member leaves that country within 5 years of the transfer. It also applies to transfers above the Overseas Transfer Allowance of GBP 1,073,100 regardless of the same-country position.
No. No domestic pension arrangement in Malaysia, Singapore, Thailand, or Vietnam has ever appeared on HMRC's ROPS notification list. For most SE Asia-based expats, the SIPP is the only available regulated route for UK pension consolidation, which is why this calculator lets you compare it against a QROPS held in a genuinely qualifying jurisdiction such as Malta or Gibraltar.
It depends on the fee structure of the specific schemes being compared and whether the Overseas Transfer Charge applies. QROPS structures set up through the historic offshore-bond model often carry higher ongoing platform and adviser charges than a low-cost UK SIPP. This calculator compares your actual inputs rather than assuming one structure is always cheaper.
No. This tool models cost and projected value based on the figures you enter. It does not assess CETV suitability, scheme benefits lost on transfer, health and family circumstances, or the specific tax treatment in your country of residence. UK regulations require regulated financial advice for any defined benefit transfer with a CETV above GBP 30,000.
Get The Full Picture
The fee comparison is one input, not the whole decision.
Scheme benefits, health, family circumstances, and the destination country's tax treatment all factor into whether a transfer makes sense at all. A planning session covers the full picture, not just the numbers.
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