What Happens To Your QROPS When You Die?

The question is uncomfortable for many expats, but prudent financial planning means looking after your family and loved ones when you die. Qualifying Recognised Overseas Pension Schemes (QROPS) fall under the same inheritance rules as UK pensions – plus an extra tax-free boost for expats who are left a share of any unspent pension money. … Read more

Moving Gold-Plated Pensions To QROPS Is No Longer Taboo

Switching a final salary pension to an offshore Qualifying Recognised Overseas Pension Scheme (QROPS) is a taboo topic for many IFAs for no good reason. A final salary pension is undoubtedly one of the most generous pensions any retirement saver could expect. Offered by a dwindling number of employers, the pension offers a retirement income … Read more

Move To Make QROPS Transfers Easier For Expats

The British government suspects strict rules about transferring pensions worth more than £30,000 to a Qualifying Recognised Overseas Pension Scheme (QROPS) are putting some expats at a financial disadvantage. The Department of Work and Pensions is considering whether to scrap the need for expats to seek advice from an adviser regulated in the UK when … Read more

Why Expats Should Move Final Salary Pensions To QROPS

Expats could rearrange their finances and become instantly better off if they made some sensible financial decisions. Saving tax and other charges is not about being wealthy, but being sensible with whatever money you have. First look at income tax. Anyone with a UK pension gets 25% from their pot tax-free and tax is taken … 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. … Read more