Robert Brealey, pensions adviser for Siddalls, explained that while it is possible for people to transfer any money they have saved in a UK-based pensions account to one in another country it is not a straightforward process.
However, he added that once an individual has moved their pension account they will benefit from any tax breaks offered by the country that is now home to the money.
Mr Brealey said: "Once your fund has been transferred overseas, you will be subject to the rules of the country where your new pension scheme is based.
"However, the UK Inland Revenue reserves the right to tax you if any payments are made out of the scheme for the first five years after [the pensions account] left the UK, which you couldn't have had if you were still in the UK."
Those taking money from their pension account after this five-year period there face no restrictions, he concluded.
In February, Des Hamilton of the Pensions Advisory Service claimed that many people are put off opening a pension account as they do not want to make financial sacrifice in order to save money in it.
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