What happened in Hong Kong
Hong Kong historically hosted one of the largest communities of UK expatriates in Asia. Many UK nationals carried significant UK pension savings and were targeted by international advisory firms offering to transfer those pensions into QROPS or offshore bond structures.
The departure of many UK nationals from Hong Kong — particularly following 2020 — means a significant number of potentially affected clients have since relocated, often without investigating the pension advice they received. This recent relocation may mean the 3-year awareness clock has only recently started.
Route 4 civil litigation is the primary route, supported by the Fletcher [2024] Court of Appeal decision.
Who this affects
UK nationals who lived in Hong Kong and were advised to transfer a UK DB pension or other UK savings into a QROPS, SIPP, or offshore bond structure.