A new self-invested personal pension (Sipp) plan has been launched recently. It is specially targeted at UK expatriates living in Europe.

The new independent pension specialist’s plan has especially been designed for customers who have lived overseas for five years plus.

Accepting both, non-UK and UK pension funds, the product also provides an ability to pass on 100 per cent value to the beneficiaries of the holder after death.

The firm suggests their customers, who can incorporate expat health insurance clients, can hold on to their non-residential status and continue with the advantages even when they return home.

The scheme also enables a tax free lump sum of 25 per cent of the finance amount to be taken from 55 years of age, with a balance income that can be compensated annually, quarterly or monthly.

Product development manager of the group, said that the plan will provide more flexibility.

For those expats who live and work abroad, accessing the right type of health insurance cover is extremely important. With the cost of medical treatment often being too expensive, it further creates a need to opt for an appropriate health insurance plan.