WHAT IS A QROPS:
A QROPS is a Qualifying Recognised Overseas Pension Scheme that can have significant taxation and investment advantages for individuals with UK pensions who have, (or will) become non-resident in the UK for tax purposes. The rules of the scheme should, for the most part, correspond to the rules governing the original UK pension scheme.

The trustee's of the QROPS must report to Her Majesty's Revenue Customs - HMRC - information about certain events if that individual was resident in the UK for tax purposes during the previous 5 years.

The events include:

a) The payment of benefits (lump sum, income and death).
b) Onward transfer of the QROPS.

If the individual has been non-resident for 5 complete tax years or more HMRC no longer require information to be reported to them. This is why QROPS planning is most often carried out for people moving abroad.

It must be stressed that we are not in the business of "pensions busting" as this is illegal - what we have to offer is a unique QROPS product that can be used by UK Resident individuals to save considerable sums of money. Pensions Advice will need to be taken and we are happy to provide access to this should you need it.

HMRC publish a list of QROPS although not every scheme chooses to be on that list. (Ours in on the list - click here to view them all).

QROPS PLANNING FOR UK RESIDENTS:
A QROPS can be used to assist with effective planning for UK Residents. There are two main areas where a QROPS may be beneficial. These are:

a) Reduction in taxes due on death (currently 82.5% of the pension fund after age 75).
b) Limiting the impact of the "Lifetime Allowance" that applies to UK Pensions.

Our QROPS removes the 82.5% tax on death and ALL growth within the QROPS will be outside of the lifetime limit on pensions!

retirement@qropsinfo.net

Please note: We are not investment or pensions advisors, so anything you read on this web site should not be taken as formal investment or pensions advice.