The Qrops Specialist offers you friendly and independent information on QROPS pension transfers( Qualifying Recognised Overseas Pension Scheme ).
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 . com is here to guide you throught the maze of different solutions, removing the stress and hassle enabling you 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. 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 can be many reasons for wanting 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% in some cases.
COULD IT BENEFIT ME MORE BY LEAVING MY PENSION
IN THE UK?
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
Remember, we do not have access to your pension fund either before, during or after the transfer. Qualified financial advisers will help you to get the most out of your pension. There are no upfront fees. You cannot transfer a State Pension.
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Every care is taken to ensure that the information on this site is accurate and up to date. However, we cannot accept any liability for error or omission with regards to the content of the site. The Qrops Specialist cannot be held liable for any tax payable by the policy holder or otherwise now or in the future that may arise from a pension transfer, whether it be UK tax, or elsewhere. We operate websites dealing mainly with QROPS and pension transfers. The sole aim of this website is to offer the visitor information concerning QROPS and pension transfers and its content should not be seen as financial, tax or investment advice. Please note that we are an information only service and do not provide financial or tax advice. The reader should not consider the information on this website as a solicitation in any respect to enter into any arrangement. The Qrops specialist act as an introducer of business to the specialist pension transfer companies and investment companies. It is very important for you to note that we are do not offer advice regarding any products. We simply make sure that you qualify and introduce you to the actual provider.
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