Key Points

• UK QROPS transfers to Canada are currently permitted as of March 2026
• You must be between the ages of 55 and 70 to qualify to transfer your pension scheme
• Not all penson schemes can be transferred to Canada
• Transfer process can be complicated and timely – work with a professional
• Pension funds are converted to Canadian dollars when received in Canada

Introduction

A Qualifying Recognised Overseas Pension Scheme (QROPS) transfer allows individuals to move an eligible UK pension to an overseas pension arrangement recognized by HMRC. For UK expatriates who now live in Canada, this can provide greater flexibility and potential tax advantages when managing retirement savings.

A QROPS transfer to Canada involves moving your eligible UK pension into a QROPS approved Canadian registered account (RRSP). This allows you to manage your retirement assets within Canada under the income tax laws of Canada.

Why Transfer a UK Pension to Canada?

There are several reasons why UK expatriates choose to transfer their pension to Canada, including:

• Potentially more favourable Canadian tax treatment

• Tax-free spousal rollover on death

• Greater control over investments

• Consolidation of retirement assets in one country

• Ability to name beneficiaries

• Currency protection by converting assets to Canadian dollars

• Simplified retirement planning while living in Canada

Eligibility for a QROPS Transfer

To be eligible for a QROPS transfer to Canada, the following criteria generally apply:

• You must be between the ages of 55 and 70 to open a QROPS RRSP account in Canada.

• You must hold a non-state pension scheme in the UK.

• You must be a Canadian tax resident with the intention to live in Canada for at least five years.

• Ideally, you should not intend to move back to the UK.

• Not all UK pensions are eligible for transfer.

Important Pension Considerations

Certain pensions require additional review before they can be transferred.

Defined Benefit Pensions (aka Final Salary Pensions) with a guaranteed retirement income and a value greater than £30,000 must be reviewed by a qualified FCA-regulated UK financial adviser before proceeding with a transfer. We maintain relationships with FCA-regulated UK advisers who can perform the required pension transfer analysis when necessary. This includes additional steps and we advise you to contact us for additional information.

Defined Contribution Pensions are typically much more straight forward when it comes to the transfer process.

Pensions That Cannot Be Transferred

Some UK pensions are not eligible for transfer to Canada, including most public sector pensions, such as:

• UK Civil Service pensions

• Teacher pensions

• The majority of NHS pension schemes

The QROPS Transfer Process

Once eligibility has been confirmed, the transfer process begins with gathering your pension documentation and transfer discharge forms from your UK pension administrator.

Because pension valuations and documentation are typically valid for only 90 days, it is important to act quickly once they are received.

The transfer process generally includes:

• Reviewing your existing UK pension documentation

• Completing required pension transfer forms

• Opening the receiving investment account in Canada

• Selecting your investment strategy in Canada

• Coordinating the transfer with the UK pension administrator

We will work with you throughout the entire process from start to finish to ensure that you have a smooth transition of your retirement assets to a Canadian RRSP.

Receiving the Funds in Canada

Once the transfer is approved, the pension funds are typically wired from the UK pension scheme to the approved QROPS investment provider in Canada. Currently, the approved QROPS investment providers that we use are iA Clarington for mutual funds and Industrial Alliance for segregated funds.

The funds are then converted to Canadian dollars upon receipt and invested according to your chosen investment strategy in an RRSP account.

Accessing Your Pension in Canada

After the transfer is complete, you will be able to access your retirement savings under Canadian pension rules, which allows for:

• Flexible retirement withdrawals

• No restrictions on withdrawals

• Tax-efficient retirement income planning

• Consolidation with other Canadian retirement accounts

Because Canadian and UK pension regulations differ, it is important to understand the implications before proceeding with a transfer. We can assist with any questions that you have regarding transferring or accessing your pension.

Speak with a QROPS Specialist

Transferring a UK pension to Canada can provide meaningful financial and estate planning advantages. However, every pension and personal situation is different.

At Strata Wealth, we specialize in transferring UK pension schemes to Canada via QROPS as well as RRSP planning. We will assist you through every step of the process before and after the funds arrive in Canada.

Contact us today for a free consultation to determine whether transferring your UK pension to Canada is the right strategy for you.