A QROPS is a pension plan that; "Qualifies" with HM Revenue and Customs (HMRC) rules, is officially "Recognised" by HMRC, is "Overseas", i.e. outside of the UK and is set up in trust as a legal "Pension Scheme", hence the acronym. A QROPS therefore, can accept a UK pension transfer just like any UK based scheme.

The capacity for QROPS to simplify an individual's retirement has assisted as well. With a QROPS, it is much easier to switch from out-of-date arrangements, and consolidate a number of pension schemes under one roof.

For most people, their pension is probably their second most valuable asset after their family home, so benefits really make a big difference, and can dramatically improve life in retirement.
  • Consolidation of multiple pensions
  • Flexible choice of currency
  • Funds fully conferred on to heirs after death (after five full years of non-UK residence)
  • Investment flexibility and freedom
  • No obligation to buy an annuity
  • Possibility to allay UK income tax or death charges of up to 45%
  • Safe and well-regulated jurisdictions
  • Transparent charges
  • Up to 30% pension initial lump sum or flex

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