🔍 Overview
In September 2025, James Hay Partnership (James Hay) confirmed that it will no longer accept new SIPP applications from non-UK residents
This decision affects UK expatriates and internationally mobile professionals who were planning to open or transfer a pension into a James Hay SIPP while living overseas.
In this article, we explain:
- What the September 2025 change means
- Why James Hay likely made this decision
- What it means for existing and prospective clients
- How Cameron James can help you find compliant international alternatives
📅 What Changed in September 2025
From September 2025, James Hay will no longer accept new SIPP business from individuals who are not UK-resident at the time of application.
This restriction applies to new applications for both the Partnership SIPP and Modular iPlan.
Existing clients who opened their SIPP before this date can usually retain it, but may face ongoing limits, including:
- ❌ No tax relief on future contributions while non-resident
- ⚠️ Restrictions on certain collective investments (especially for US residents)
- 📄 Additional KYC and residency verification checks
💡 Why Has James Hay Taken This Step?
- Regulatory Burden – Cross-border AML/KYC and MiFID II oversight create high compliance costs. Post Brexit complexity about being able to provide financial services to EEA residents without a place of business in the EEA.
- Product Simplification – Many providers, including Fidelity and Transact, are narrowing focus to the UK market.
- Commercial Risk Management – Overseas clients bring currency, legal, and tax complexity that can outweigh benefits.
What It Means for Non-UK Residents and Expats
If you are a UK national living abroad, you may now be ineligible to open a new James Hay SIPP, and some ongoing features could be restricted.
Key Implications
- ❌ New applications rejected if you are non-UK resident
- 🚫 No UK tax relief on contributions
- ⚠️ Investment restrictions may apply for US-connected persons
- 📄 Extra documentation required for overseas addresses
📊 UK Domestic vs International SIPP Options
| Feature / Criteria | Typical UK SIPP (e.g. James Hay) | International SIPP via Cameron James |
| Client Eligibility | UK residents only | Accepts UK expats and non-UK residents globally |
| Currency Options | GBP only | Multi-currency (GBP, USD, EUR) |
| Regulatory Oversight | FCA-regulated | FCA-regulated, Locally regulated (SEC, EU etc) adviser. |
| Investment Access | Global ETFs, direct equities, | Global ETFs, direct equities, |
| Payments / Drawdown | GBP to UK bank accounts | Multi-currency to international accounts |
| Non-UK Resident Beneficiary Options | Lump Sum withdrawal or Transfer Out | Full Beneficiary Options, including Survivors Drawdown |
| Ongoing Servicing | Limited for non-UK addresses | Designed for expatriate support |
| Typical Use Case | UK resident saving for retirement | Expat or US/EU-connected individual living abroad |
| Example Providers | James Hay, Fidelity, Transact | Novia Global, Invinitive, Morningstar |
How Cameron James Can Help Non-UK Residents
At Cameron James, we specialise in helping UK expatriates, US residents, and globally mobile professionals manage their UK pensions compliantly and efficiently.
Our Services
- Independent Cross-Border Advice – Review existing SIPPs and assess whether a transfer is suitable.
- Access to International SIPP Providers – Open fully FCA-regulated pensions, specifically designed for non-UK residents.
- Multi-Currency Flexibility – Receive drawdowns in GBP, USD, or EUR and to foreign bank accounts
- Transparent Fee based financial Planning – No commissions, just clear fees and full-fat financial planning.
Next Steps
If you hold or planned to open a James Hay SIPP but are now affected by the September 2025 decision:
- Review your residency and eligibility
- Compare UK and international SIPP options
- Seek advice before transferring or drawing benefits
Book a free consultation with a Cameron James cross-border adviser to review your best next steps.
👉 Schedule your free consultation
📥 Prefer to start with email? Reach us at info@cjfinance.co.uk
Frequently Asked Questions (FAQ)
Can I keep my James Hay SIPP if I move abroad?
Yes, existing clients can typically retain their SIPP after leaving the UK. However, you must inform James Hay of your change of residency, and you will no longer receive UK tax relief on new contributions. Certain funds or collectives may be restricted for non-UK residents, but this is to be confirmed.
Can non-UK residents still open a new James Hay SIPP after September 2025?
No, from September 2025, James Hay no longer accepts new SIPP applications from non-UK residents.
What are the best alternatives to James Hay for expats?
International SIPP providers such as Novia Global, Infinitive and Morningstar accept non-UK residents and offer multi-currency drawdown, advice from a locally authorised adviser, and full non-UK resident beneficiary options. Cameron James advisers can help you compare and transfer to the most suitable option.
Do I lose tax relief on contributions if I become a non-UK resident?
Yes. Under HMRC rules, you can only receive UK tax relief on pension contributions if you are a UK resident or deemed UK resident under Crown service or specific provisions.
What if I already submitted an application before September 2025?
Applications received before the cut-off may still be processed under the previous rules, subject to James Hay’s internal discretion and proof of UK residency at the time of application, however, there are more suitable options out there.
How do I transfer from James Hay to an international SIPP?
Cameron James can manage the entire transfer process on your behalf, liaising with trustees and custodians to ensure a smooth, compliant transition without unnecessary charges or delays.