QROPS (Qualifying Recognised Overseas Pension Scheme) enables you to take your pension on a permanent holiday if you leave the UK.

QROPS COMPLETE THE FORM BELOW FOR A FREE QROPS REPORT.

QROPS

QROPS A QROPS is good for you if you’re living overseas or planning to live overseas

QROPS A QROPS can help you reduce your UK Income Tax and Inheritance Tax

QROPS A QROPS can add flexibility and control to your pension arrangements

QROPS TAKE YOUR PENSION ON A PERMANENT HOLIDAY WITH A QUALIFYING RECOGNISED OVERSEAS PENSION SCHEME (QROPS).

 
If you have a UK private pension, there are considerable benefits in transferring it to a QROPS.

If you’re a non-UK resident or you’re planning to live abroad, there are potential disadvantages with a UK private pension. In the UK, pension benefits tend to die with you. That means your fund can’t be passed to your beneficiaries. If you’re living outside of the UK and have a UK pension, you could still be paying tax at UK rates.

A QROPS pension scheme is an excellent option if you’re living or planning to reside overseas, but you retain UK pension rights. QROPS offers excellent flexibility, significant taxation and investment advantages and the opportunity to pass on your pension fund to your beneficiaries when you die.

QROPS What is a QROPS?

 
Since 2006, people with UK pensions who are, or will become non-resident in the UK for tax purposes have been able to move their pension benefits out of the UK to a QROPS. This can prove highly advantageous.

The QROPS must meet certain criteria set out by HM Revenue and Customs (HMRC). The QROPS acts as if it were a UK scheme for QROPS members who have been resident in the UK at any time in the previous five tax years. If you have emigrated from the UK or you are about to do so, and you have transferrable pension assets in the UK, then you may be eligible to use a QROPS.

You should only ever work with companies recognised with HMRC. Here’s a PDF list of QROPS schemes approved by HMRC.

QROPS Here is a list of QROPS benefits.

 
A QROPS provides the following:

  • Greater control over where your pension fund is invested.
  • Tax efficiency – you may be able to substantially reduce the tax you would have to pay when accessing your pension, or on death.
  • Inheritance benefits – you may be able to pass on your pension fund to your beneficiaries upon your death.
  • Freedom from UK Inheritance Tax (IHT) to align it to UK-registered schemes, following a new clause in the Inheritance Tax Act 1984.
  • Simplicity, as numerous pensions can be consolidated in one QROPS.
  • More chance to see your adviser face-to-face, as pension trustees or your scheme provider can be geographically closer to where you live.
  • The possibility of helping your non-UK residency/domicile status with UK tax authorities, where necessary.
  • A scheme that becomes subject to some of the laws of the relevant overseas jurisdiction for those who have been non-UK resident for at least five tax years.
  • No requirement to buy an annuity.

QROPS If you’re living or planning to live overseas, download this QROPS information brochure.

 
To find out more about QROPS, please download this information brochure on QROPS.

QROPS Get your FREE REPORT now.

 
Having read the information brochure, if you think you’ll benefits from a QROPS, pop your details into the form above and you’ll be contacted by a QROPS specialist. They’ll discuss your situation and requirements with you, and provide you with a recommendations report. Your report is FREE.

If you’d like to discuss any aspect of the QROPS service before you complete the form, please feel free to ask us anything using our contact form.