If you're considering leaving the UK while holding a pension here, there are a few options to explore:
Keep your pension in the UK
You can leave the funds in your Penfold account and access them when you reach retirement age. However, please be mindful that Penfold might not be able to facilitate a withdrawal to a bank account outside of the UK.Transfer your pension abroad
Another option is to transfer your pension to a provider that can handle international pension transfers. It’s worth checking with different providers to see if they support this, as it can depend on the specific pension scheme you have.Withdraw your pension before leaving the UK
You can withdraw your pension if you are aged 55 or over. However, withdrawing the entire amount at once could result in higher tax charges, so it’s important to consider this carefully.