Archive for 'QROPS'
QROPS Press Release
Posted on 13. Mar, 2008 by mike.
The UK Inland Revenue has given Britons living abroad an unexpected bonus. For those who intend to remain permanently abroad it is now quite simple to transfer their UK pensions to more tax friendly jurisdictions via a Qualifying Recognised Overseas Pension Scheme (QROPS).
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Free My Pension – Presentation
Posted on 06. Mar, 2008 by mike.
Please download the latest QROPS Presentation here;
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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)
