For people with UK pension funds planning to retire abroad, QROPS could be the key to unlocking those funds.
The benefits of a QROPS pension scheme
- No inheritance tax.
- Reduces the amount of income tax – in some cases to zero.
- If you die, all of your pension passes – in full – to beneficiaries of your choosing.
- Removes the potential need to buy an annuity.
- Can provide a tax free lump sum greater than that in the UK, after five years.
Why you should talk to Infinity
- Our consultants cover the Far East, so wherever you are, we can be there too.
- HMRC rules and regulations for setting up QROPS schemes are very strict – you need an expert to make sure you choose a qualifying scheme.
- We’ve helped hundreds of British expats take advantage of QROPS.
- We really understand what it’s like living and working abroad… after all, we’re expats too.
- Long-term financial planning is the backbone of our business.
There are countless QROPS schemes to choose from – so it’s vital to seek the advice of an expert to help you make the right choice.
Five things you should know about QROPS
- QROPS schemes must be recognised by HMRC (Her Majesty’s Revenue and Customs office)
- Schemes do not need to be set up in your new country of residence
- …but they must be established in an approved country, e.g. Isle of Man, Jersey, Switzerland, Australia, New Zealand, or a member state of the European Union
- At least 70% of the funds transferred should be used to provide the member with income for life
- The remaining lump sum plus investment growth can potentially be accessed from age 55
If you’re one of the three million Britons living abroad, and you have a UK pension scheme, or if you are of any nationality and you hold a UK pension, call us to find out if you could take advantage of QROPS
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Find out if your UK pension can be transferred to a QROPS scheme.