QROPS pension transfer:
taking control of your retirement investment options with a QROPS pension
Making decisions about your retirement is a daunting task, but it is vital understand the different options when planning your retirement. With the introduction of a QROPS pension, UK citizens who have left or are planning to leave the UK, can now transfer their funds outside the United Kingdom to another jurisdiction.
Transfer your retirement scheme abroad
If you are planning to stay overseas for good, then you need QROPS, an overseas scheme where any privately managed funds from your scheme can be transferred, with little or no taxes at all. The best jurisdiction for a QROPS varies, it depends on the size of the QROPS as well as the client’s own preferences.
Both a QROPS and QNUPS offer various benefits, both are parked offshore but are not the same. It is important to understand the difference in structure and implication between them to be able to evaluate which would be more useful in one’s circumstances.
A Qualifying Recognised Overseas Pension Scheme (QROPS) is a scheme established outside the UK which complies with HMRC regulations.
Introduced in April 2006, it enables individual fund holders, in certain circumstances, to transfer funds from a UK scheme into an overseas scheme. Continue here if you are wanting to find out about a QNUPS.
If it’s tax savings and more flexibility you’re looking for, you’ll find it here: