QROPS, Qualifying Recognised Overseas Pensions Schemes, are overseas schemes which HM Revenue & Customs (HMRC) allow UK pensions to be transferred into and may be appropriate for people who are expatriates or are planning to be so. But before transferring to a QROPS, here are some questions and answers that will hopefully prove helpful to those wanting to make an informed decision.

Can I transfer into any overseas scheme?

Not all overseas schemes qualify as QROPS, HMRC only allows transfers into schemes which meet certain criteria. A QROPS listing on the HMRC web site, however, is no guarantee of HMRC’s approval, so careful advice is critical in the selection process.

Can all British pensions be transferred into a QROPS?

Deferred pensions, pensions in drawdown (even in payment), Final Salary, Direct Contributory and protected rights can all be moved into a QROPS. The only pensions that cannot be moved are Government pensions (NHS, Police, Armed Froces, Fire Brigade etc)

As a result of a lot of UK domiciled pension funds falling into deficit these funds are moved into the Pension Protection Fund or PPF. Pensions stuck in the PPF in the vast majority of cases cannot be transferred to a QROPS.

How can QROPS help avoid currency risk on your pension?

QROPS pension assets can be held and paid out in any major currency rather than being restricted to GBP Sterling. This can remove currency risk and exchange costs if the pension currency is matched to the currency you are spending in. For US residents, this can save you thousands in lost currency transactions.

Is there compulsion for you buy an annuity with a QROPS?

There is never any requirement to purchase an annuity. As long as, on your death, you are a non-UK resident and have been for more than five full and consecutive UK tax years, the remainder of the fund can be paid to your surviving spouse or family members free of UK death taxes, which otherwise can be as high as 82 per cent. A QROPS allows you to leave your remaining pension fund to your estate.

Are there any income tax benefits with a QROPS?

The income from a QROPS will be paid to you gross if you have moved to a jurisdiction which permits this. You may be liable to tax in the country in which you are tax resident. In certain countries, income from QROPS can be structured so that you pay less tax (or in some cases, none) each year than on conventional UK pension income. 

Are there any local tax issues with a QROPS?

There may be dependent on where you are resident, so it’s vital that you take advice from a company that understands both the UK and local tax implications of transferring to QROPS. Tax issues vary from county to country and in the US state to state so it is vital to take tax advice from a qualified professional. 

Will I be able to alter my investments or keep them the same?

QROPS offer a wide range of investment options not commonly available with UK pensions, so you are able to invest your pension in a manner that meets your particular requirements. No two people are the same when it comes to retirement so it is important to use the advice of a qualified professional. 

Please fill in the form below and one of our advisers will call you within 24 hours.

98 thoughts on “Why QROPS?

  1. Pingback: 5vn6ey9c63v4bwct5vwc4

  2. Pingback: 298cn54mr25cnt5nctrw

  3. Pingback: http://ammuntionaffair.com/

  4. Pingback: farming simulator 19 mods

  5. Pingback: casino gambling online

  6. Pingback: payday loan online

  7. Pingback: farming simulator 19 mods

  8. Pingback: Brazzers Trailers

  9. Pingback: https://paydayadvance.us.org/

  10. Pingback: free mp3

  11. Pingback: carpet cleaning

  12. Pingback: sites.google.com/site/vincitygrandparkq9hcm

  13. Pingback: Sherrill Zabel

  14. Pingback: https://cashloans.us.org/

  15. Pingback: https://www.credits.us.org/

  16. Pingback: https://carinsurancequote.us.org

  17. Pingback: Haroon ur Rasheed columns

  18. Pingback: Manifestation Magic

  19. Pingback: running socks

  20. Pingback: ivf specialist doctor in delhi

  21. Pingback: homeinsurancequotes.us.org

  22. Pingback: Demeter Fertility

  23. Pingback: poker online

  24. Pingback: Download Movie

  25. Pingback: https://allthingscrypto.tech/the-future-of-money/feed/

  26. Pingback: 123Movies

  27. Pingback: https://www.lacombedopale.com/5563/wingstop-menu-view-our-business-next-to-obtain-more-details/

  28. Pingback: http://www.ajwaarasco.net/index.php/en/component/k2/itemlist/user/61715

  29. Pingback: TECNICO

  30. Pingback: 15 Minute Manifestation

  31. Pingback: cheap jordans for sale

  32. Pingback: jasa view youtube

  33. Pingback: wildlife removal

  34. Pingback: seo byrå oslo

  35. Pingback: https://casinoclb.de/book-of-moorhuhn/

  36. Pingback: 123Movies

  37. Pingback: Latest Urdu Columns

  38. Pingback: Wedoitforthenextgirl.wordpress.com

  39. Pingback: squats test calculator

  40. Pingback: sosyal medya yönetimi"

  41. Pingback: dijital ajans

  42. Pingback: Acompanhantes Caxias do Sul

  43. Pingback: positive

  44. Pingback: How to Make Money with LinkedIn


  46. Pingback: 123Movies

  47. Pingback: TV Shows

  48. Pingback: اخبار فنية ونجوم

  49. Pingback: Seguro Viagem Europa Barato

  50. Pingback: air jordan retro

  51. Pingback: Cheap Escort London

  52. Pingback: nindy terbiasa bahagia

  53. Pingback: Popstar

  54. Pingback: Cheap Escort London

  55. Pingback: Jasa Youtube

  56. Pingback: Discount Car Rental

  57. Pingback: free sex videos

  58. Pingback: sex tube

  59. Pingback: Hayden

  60. Pingback: https://foxtailmarketing.com/ico-marketing-agency/

  61. Pingback: Leticia Gaccione

  62. Pingback: UrbanFiction

  63. Pingback: experienced hunter

  64. Pingback: dragkrok

  65. Pingback: plumbers near you

  66. Pingback: lucky patcher

  67. Pingback: teen porn

  68. Pingback: betist

  69. Pingback: new years eve hours

  70. Pingback: shophouse vinpearl phu quoc

  71. Pingback: new year template

  72. Pingback: buy houses in ikoyi

  73. Pingback: fudgepacker

  74. Pingback: Power Efficiency Guide

  75. Pingback: Parallel Profits

  76. Pingback: jual subscriber

  77. Pingback: Parallel Profits

  78. Pingback: smm panel

  79. Pingback: viagra

  80. Pingback: Visit this page

  81. Pingback: Ben Marks

  82. Pingback: cubicle coat hook

  83. Pingback: https://www.freemp3d.com

  84. Pingback: navigate here

  85. Pingback: over the door hanger

  86. Pingback: Roxanne Hurlock

  87. Pingback: powerball

  88. Pingback: Abstract Wall Art Online

  89. Pingback: SEO Backlink Bokep

  90. Pingback: jasa like instagram

  91. Pingback: kratom

  92. Pingback: property in malta

  93. Pingback: poker terpercaya indonesia

  94. Pingback: lagu terbaru

  95. Pingback: 30th birthday invitations

  96. Pingback: https://www.dailystrength.org/journals/big-cards-shades-your-organization

  97. Pingback: IlluminatiSho

  98. Pingback: Best Free Credit Repair

Comments are closed.