You can transfer a UK pension to Malta if you are considering moving to the USA or retiring in the USA later on in life.
A UK pension transfer to Malta can avoid UK taxes on growth, income and death. Malta has a Double Taxation Agreement with the USA and if the trust is written correctly, you can pay only US income taxes on your pension at retirement, avoiding death taxes.
Transferring a UK pension to the USA is a complex subject though and in many cases, you may be better off leaving your pension in the UK, particularly if you have a final salary pension or small pension scheme. Much care needs to be taken to perform a Transfer Value Analysis report to see if a transfer is worth considering.
A Malta ROPS can be denominated in GBP or USD. You can also choose the investments, but there are certain restrictions on what you can invest in.
QROPS USA / ROPS USA / Pension transfers to the USA / Pension transfers to Malta for US residents
American expats returning from working in the UK can transfer their pensions
British expats can transfer their existing UK pensions to a Malta ROPS if they are moving to the USA
Dutch expats can transfer their existing Dutch pensions to a Malta ROPS if they are moving to the USA
Irish expats cannot transfer their pensions due to Irish pension law restrictions.
When transferring a pension to the USA, consult a QROPS specialist.
See link here for more information