Qualifying Recognised Overseas Pension Schemes

In this section you will find the full list of benefits of a QROPS scheme.

No obligation to buy an annuity

As there are no rules stipulating that you must buy an annuity by the age of 77 you can have a flexible draw down plan allowing you to pass 100% of you pension, on death, over to your selected beneficiary (see below).

Flexible income options

Various drawdown and payment options are available and should be discussed with your adviser before choosing an appropriate strategy

Income paid gross of tax

The income you receive from your pension is paid in full without tax deduction. That means your income tax liability can be significantly reduced.

Currency choice

As you won't be in UK for the foreseeable future why should you risk currency fluctuations? By changing into your currency of choice you can mitigate this risk.

Pension commencement lump sum increased to 30%

In a select number of jurisdictions you are eligible to receive an enhanced lump sum if you wish. There are many factors to consider before taking the full amount, however this option, again, gives you the flexibility to choose.

Pension consolidation

If finance wasn't difficult enough if you have numerous UK pensions you can consolidate them all into one easy to administer QROPS

Professional management

This is obviously a huge benefit of setting up a QROP scheme. By utilising the tax advantages and through professional management you can take full control of your pension potentially increasing your fund size by a much larger amount than could be accomplished under UK constraint. Your adviser and our portfolio management specialists will ensure your pension meets all your requirements.

Vastly more investment options

As your pension is now in an offshore jurisdiction your investment options are greatly increased and can include: Stocks, bonds, mutual funds, commercial property & REITs, forex, ETF's and much more.

100% death benefit to beneficiary

Due to the involvement of trustees and beneficiaries the QROPS arrangement allows you to rightfully pass 100% of your pension to your loved ones when you die.

No lifetime allowance limit
(current UK limit: £1.8million)

You are not restricted by the size of your pension fund. However, if you feel you may be near to this limit and have not considered QROPS in the past it may be a good time to investigate further; transferring more than £1.8million into a QROPS will result in a 25% tax charge on the surplus. There are some exemptions which you should speak to your advisor about.

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