Yes, if the transfer value of your safeguarded benefits is more than £30,000. Under UK pensions law in 2026/27, you must take advice from a firm authorised by the Financial Conduct Authority with permission to advise on pension transfers before a UK scheme will release the money. This generally applies whether you live in the UK or abroad, because the requirement attaches to the UK scheme you are leaving.

The £30,000 rule

The requirement covers "safeguarded benefits", which mainly means final salary (defined benefit) pensions and some older pensions with guarantees. If the cash equivalent transfer value is £30,000 or less, measured before any reduction, the advice requirement does not apply, though The Pensions Regulator suggests trustees still encourage members to consider advice.

Above that level, the trustees must check you have received appropriate independent advice before they make the transfer. The Pensions Regulator's guidance says they should:

  • receive written confirmation from your adviser that the advice was given
  • check that the adviser's firm is on the FCA Financial Services Register with permission for "advising on pension transfers and pension opt-outs", without a limitation that prevents it
  • keep records of these checks

Trustees do not judge whether the advice was good or what it recommended. But without the confirmation, they must not proceed.

Timing also matters. The adviser's confirmation normally has to reach the trustees within three months of you receiving your guaranteed statement, and the transfer usually has to complete within six months of the guarantee date. Starting early gives you time to think without the deadline driving the decision.

What it means if you live abroad

The requirement is about the scheme you are leaving, not where you live. A UK scheme will want confirmation from a firm on the FCA register with the right permission. Advice from a firm regulated only outside the UK will not, by itself, satisfy the requirement.

If an overseas scheme is suggested, the Overseas Transfer Charge is also relevant. For transfers requested on or after 30 October 2024, a 25% charge generally applies unless an exclusion is met, such as living in the same country as the receiving QROPS or it being your employer's occupational scheme. Whether it applies depends on your residence, the scheme's status and whether the exclusion continues for five years. See our Overseas Transfer Allowance guide.

What to expect from the advice

According to the FCA, good transfer advice will:

  • ask in detail about your circumstances, plans and why you are considering giving up a guaranteed income
  • explain what you would give up, including guaranteed lifetime income, increases and any spouse's pension
  • give a written suitability report setting out the recommendation and the risks
  • tell you upfront what the advice costs; you pay the same for full advice whether or not you go ahead

The FCA also says that most people would be best advised not to transfer. Some advisers offer a shorter form, called abridged advice, which can only conclude that a transfer is unsuitable. It cannot be used to recommend a transfer.

A worked example

Illustrative example only, not a real client.

Tom lives in Abu Dhabi with a deferred final salary pension. His statement shows a transfer value of £450,000. Because this is over £30,000, his scheme will only transfer once it has written confirmation from an FCA authorised firm with pension transfer permission.

After full advice, the recommendation is to keep the pension. Tom leaves it in place and later draws it as income. Assuming he is UAE resident under the treaty's residence definition, Article 17 of the UK and UAE double tax treaty generally makes that pension taxable only in the UAE, which does not currently levy personal income tax.

Warning signs

Be wary if anyone:

  • contacts you out of the blue about your pension
  • says the advice requirement can be avoided or is a formality
  • pushes you towards a transfer before you have seen your options in writing
  • cannot show their firm on the FCA register with pension transfer permission

If you are concerned about a pension scam, GOV.UK directs you to Report Fraud. Our guide to defined benefit pension transfers for expats covers the process.

Common mistakes

  • Assuming advice from an overseas regulated adviser is enough for a UK scheme.
  • Treating the advice as a box to tick rather than a decision about guaranteed income.
  • Not checking the adviser's permissions on the FCA register yourself.
  • Forgetting the Overseas Transfer Charge when an overseas scheme is suggested.

A regulated financial adviser can help. Get in touch for a free introduction.

Sources and further reading

Last reviewed: October 2026. Tax year: 2026/27 (UK); current UAE rules. Jurisdictions covered: UK. Rates, legislation and guidance change, so recheck before relying on this. Rules can differ between England and Wales, Scotland and Northern Ireland; tax residence is fact-specific; treaty outcomes depend on residence, domicile or nationality provisions; examples are simplified and omit reliefs, costs, exchange rates and anti-avoidance rules. This is general information, not financial, tax or legal advice. Take advice in the relevant country before acting.