The Qrops Specialist offers you friendly and independent information on pension transfers and QROPS ( Qualifying Recognised Overseas Pension Schemes ).
Qualified financial advisers will answer any questions that you may have, explain every step and do the necessary paper work on your behalf. You can be sure that we will give you clear and straight forward facts, based on the guidance by HMRC. This is proven to be a success as 68% of new clients are referred to us by old and present clients.
Many QROPS exist all over the world, each one offering a different variation when it comes to the solutions and structures they offer. The Qrops Specialist is here to guide you throught the maze of different solutions, removing the stress and hassle trying to find the most suitable QROPS jurisdiction for your circumstances. Our aim is to provide you with independent, factual information enabling you to make an informed decision resulting in the best solution for your requirements.
Following this year’s Budget, demand for QROPS is expected to rise. If you are not a member of such a scheme already, it is worth looking into to offset changes to tax relief announced in the Budget. You should also not put off moving your pension, as further restrictions are expected as part of the Finance Bill in 2013.
As a result of changes to current tax relief, there has been a sharp rise in the number of people transferring their pensions to HMRC-recognised overseas schemes.
There are many reasons for transferring your UK pensions to a Qualifying Recognised Overseas Pension Scheme : unlocking tax free money, Inheritance tax planning (IHT), growth on the pension, greater investment freedom or a tax efficient jurisdiction.
QROPS
The UK Governement introduced new legislation in April 2006 making it possible for British expats to transfer their UK pensions to QROPS with the approval of HMRC.
The British Government introduced the new rules to make retirement and retirement planning easier for British expats. What it really means is that you can take your UK pensions abroad when moving overseas or if you intend to leave the UK on a long term basis.
Normally you must have reached the age of 55 before you can start taking benefits, however, QROPS can offer incredible tax advantages, higher growth potential , higher income potential flexibility and investment freedom and control in comparison to UK pensions.
Most UK pension can be transferred to QROPS and can include Protected Rights funds. This can also apply to those already receiving benefits from a UK SIPP or Self-Invested Personal Pension Scheme.
Most QROPS are not taxed at source whereas UK pensions are, this can give you tax saving you could have only dreamed of in the UK and can be as low as 0%.
COULD IT BENEFIT ME MORE BY LEAVING MY PENSION
IN THE UK? NO, DEFINATELY NOT!
UK pensions have experienced poor fund growth and have lost around GBP 2,000 on average, during the financial crisis. Large shortfalls in pension funding have been reported by many UK pension providers which could lead to deteriorating payments and conditions in years to come. With QROPS you can control your money and the investments
• If you retire abroad and you leave your pension in the UK you could leave yourself exposed to tax between 20%-80%.
Your UK pension normally ´´dies´´ with you, with a QROPS you can leave your pension to your beneficiairies.
A UK pension offers little or no control over the investments within the fund, with a QROPS you can decide on the investments and pick investments with higher growth potential.
If you are considering a QROPS there are numerous possibilities which are both safe and secure and have the respect of the financial industry and investors.
QROPS come in many forms and there is not a “one size fits all” solution. It is paramount that specialist QROPS advice should be sought.
Contact us today for a FREE no obligation consultation, simply complete the form below or send an e-mail:info@the-qrops-specialist.com Alternatively call us on (+44) 020 3239 3219 (UK) or (+34) 657360286 (Spain).
Remember, we do not have access to your pension fund either before, during or after the transfer! Qualified financial advisers are here to help you to get the most out of your pension. We do not charge upfront fees.
You cannot transfer a State Pension.
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Administration Office: The QROPS Specialist, Cerros del Lago 28.1, 29611 Istan, Marbella, Spain
Qrops Specialists , UK Pension Release
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