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QROPS

“QUALIFYING RECOGNISED OVERSEAS PENSION SCHEME”

Qualifying Recognised Overseas Pension Scheme (QROPS) is an overseas scheme that meets local tax rules, is recognised by Her Majesty’s Revenue and Customs (HMRC) and offers varied retirement planning opportunities for non-residents of the UK.

This type of pension scheme is based outside the UK and is available to individuals who have UK based pension funds but who are living outside the UK. HMRC defined the legislation in April 2006 allowing the transfer of UK pension funds to other schemes which meet their requirements. It is particularly valuable to individuals who have left company pension funds in the UK but who reside abroad and have little intention of returning to the UK in the near future. For any individual who has been entered into a pension scheme in the UK (regardless of Citizenship) there is a possible advantage in moving the fund of their pension scheme into an environment where the proceeds of the pension may be treated more favourably.

Trafalgar has agreements with several pension scheme providers so our clients can choose from a wide range of schemes, in their chosen jurisdiction at their preferred price.

Issues such as currency, residency and tax status of the country of retirement are paramount in making sure an investor has chosen wisely when transferring a pension fund from a UK scheme into a QROPS and using such a scheme allows freedom of movement, whilst ensuring the pension is in the best possible environment for the investor’s future.

At Trafalgar we are dedicated to making sure you receive the best, most professional advice concerning your pension and your retirement.

Related Topics

QROPS for EU Residents

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QROPS

Qualifying Recognised Overseas Pension Scheme



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