Company Pension Solutions All Mean Savers Taking A Hit

Companies are looking for solutions to plugging their £459 billion pension black holes, but whatever way they decide to go, retirement savers will lose. Direct benefit or final salary pension schemes offer savers a guaranteed pension rising in line with the cost of living for life. The trouble is these pensions have become too expensive for … [Read more...]

Expat Guide To Switching A Pension To A QROPS

Switching a pension from the UK offshore to a Qualifying Recognised Overseas Pension Scheme (QROPS) can make financial sense for expats. QROPS are well-known for their tax and investment incentives for expats, but sourcing the right pension and organising the transfer are tasks for specialist advisers. With more than 1,200 QROPS available in … [Read more...]

Want A £1m Plus Pension Without Any Tax Penalties?

Expats can beat the lifetime allowance rules by switching from a UK pension to a Qualifying Recognised Overseas Pension Scheme (QROPS) – but the window of opportunity may soon close. The government has recently opened a consultation aimed at aligning the tax treatment of QROPS with onshore pensions for expats who move back to Britain. But the … [Read more...]

QROPS 2017 – What to expect for the tax man

HM Revenue and Customs (HMRC) has already signalled that overseas pension rules will change in April 2017. Besides some tax tweaking to bring pensions like Qualifying Recognised Overseas Pension Scheme (QROPS) into line with onshore pensions, the big shake up is likely to be with offshore pension providers. The grand design is to turn the … [Read more...]

QROPS Can Ease Workplace Pension Worries

Millions of savers are worried that their workplace pensions are spinning out of their control and that they do not know what to do about it, according to financial experts. More than 2 million workers have concerns about what may happen to their pensions that deter them from saving more, research by financial firm Portus Consulting … [Read more...]

Don’t Worry About Brexit, Expats In EU And UK Told

British expats in the European Union have no reason to worry about their rights as a result of the Brexit referendum, according to a government statement. The Home Office has confirmed that nothing has changed for British expats in Europe nor EU expats in the UK as a result of the leave vote. The statement also explains that Britain remains a … [Read more...]

How To Check The Credentials Of Your QROPS

Checking out if your preferred Qualifying Recognised Overseas Pension Scheme (QROPS) really is a pension that follows HM Revenue & Customs (HMRC) rules is a vital part of due diligence in moving a pension overseas. Retirement savers have to ask some direct questions of the QROPS provider to make sure they are sticking to the … [Read more...]

Three Magic Words That Give Away A Pension Scam

Consumer watchdogs have a list of three magic terms that reveal a pension liberation scam. After analysing sales techniques and complaints about pension liberation scams, the watchdog has discovered that most fraudsters try to entice their victims with the three terms. Pension Life runs a service that offers kite marks to identify good … [Read more...]

HMRC Fires Angry Warning To QROPS Savers

If an expat transfers their cash to an offshore pension scheme that’s not a Qualifying Recognised Overseas Pension Scheme (QROPS), the tax man will have little sympathy. In a sharp notice published in the latest HM Revenue & Customs (HMRC) Pension Schemes Newsletter for providers and advisers, the tax man talks about ‘numerous requests’ … [Read more...]

What’s The Difference Between A ROPS And A QROPS?

Qualifying Recognised Overseas Pension Scheme (QROPS) have led the way as offshore pensions for expats since April 6, 2006 – but now a new pension is taking over. A Registered Overseas Pension Scheme (ROPS) has suddenly taken the place of QROPS on most HM Revenue & Customs (HMRC) guidance. So what is a ROPS? Offshore pensions for British … [Read more...]