Qualifying Recognised Overseas Pension Scheme
What is QROP's?
A Qualifying Recognised Overseas Pension Scheme, or QROPS, is an overseas pension scheme that meets certain requirements set by HM Revenue and Customs (HMRC). A QROPS can receive the transfer of UK Pension Benefits without incurring an unauthorised payment and scheme sanction charge. The QROPS program was launched on 6 April 2006 as a part of new legislation with the objective of simplifying pensions.
Typically this occurs when a UK resident leaves the UK to emigrate permanently (or to retire abroad) having built up a pension fund within a scheme approved by HMRC or when a person born abroad who has built up benefits in a HMRC approved UK Pension Scheme decides to return to their home country with an expectation of retiring there. The QROPS does not have to be established in the new country of residence, thus providing greater flexibility and stability, along with choice of scheme provider.
If you have a UK pension and now either reside outside of the UK or plan to, you can transfer your pension into a QROPS, short for Qualifying Recognised Overseas Pension Schemes – and access a host of benefits.
There are now over three thousand QROPS available, and a myriad of different pension structures on offer.
Finding the best solution for your needs can be frustrating, which is where Qrops.net can help.
We remove the hassle, trouble and time in building the best QROPS solution for your circumstances, and provide you with honest, independent advice and solutions so you can make empowered decisions.
30% Lump Sum Available
Flexible income drawdown rules
No obligation to ever buy an annuity
Avoid the UK’s 55% death tax
Consolidate pensions into one easy to manage fund
Greater investment flexibility
Currency of your choice
Retirement age of 50
Avoid further changes to UK tax and pensions legislation
Independent Advice, Wherever You May Be
International Advisor are one of the regions largest independent financial advisors – meaning you can benefit from our unparalleled wealth of knowledge, and rest assured the best solution will be delivered.
Being a “whole of the market” financial advisory firm, we can offer advice on every QROPS around the world. We are also noted for our complete service offering, which not only includes building the best solution, but also transferring your pension, and offering sound investment advice.
International Advisor is licensed in various jurisdictions around the world, however, the products and services offered by the respective International Advisor entities may vary per jurisdiction. International Advisor does not warrant, either expressly or implied, the accuracy, timeliness, or appropriateness of the information contained on this website.
'The information contained in this Site is for general guidance on matters of interest only. The application and impact of laws can vary widely based on the specific facts involved and your country of residence. Before making any decision or taking any action, you should consult a International Advisor consultant.
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Independent financial advice, wherever you are
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