Archive for 'Pensions'
QROPS: Frequently Asked Questions
Posted on 30. Jan, 2008 by mike.
Q. Am I able to transfer protected rights into a QROPS?
A. Yes, as long as the receiving Qualifying Recognised Overseas Pension Schemes (QROPS) is willing to accept it. When the transfer takes place form CA1881 should be completed, which enables HMRC to keep track of where the protected rights are. In transferring protected rights it is necessary to state that you understand that all protection associated with UK pensions legislation is being given up.
Q. Can I transfer benefits that are already in payment to a QROPS?
A. Yes, so long as the receiving QROPS is willing to accept transfers of funds where the member is receipt of an unsecured or alternatively secured income. Unless the member has not been UK resident during the last five complete tax years then UK rules associated with these benefits are lost. If the member does not satisfy this condition however UK provisions associated with these types of benefits continue to operate until the five-year rule has been satisfied.
Annuities in payment and pensions in payment from occupational final salary schemes may not be transferred.
Please download the Full FAQ’S to QROPS (PDF)
Continue Reading
Pensions For Beginners: Part Two
Posted on 23. Jan, 2008 by mike.
In Part One, I explained what a pension is, the pros and cons of having one, and what the main alternatives to a pension are.
I’m now going to outline the different types of pension you can get, so you get a clearer idea of what your options are.
Continue Reading
Widows limits pensions exodus
Posted on 23. Jan, 2008 by mike.
Scottish Widows has become the latest fund manager to be forced to close the door to investors in its £2.1bn property pension funds.
[...]
