Who is Suitable for QROPS?

Sandy King
QROPS

 

Who is Suitable for QROPS? QROPS may be suitable for UK clients who have / or are about to emigrate from the UK, and have a UK pension.

QROPS may also be beneficial for wealthy clients who spend less than 90 days per annum in the UK, and qualify as being non UK resident on this basis. Care does need to be taken that you do not fall foul of any other residency requirements.

It is also suitable for foreign nationals and UK non domicile clients who have worked in the UK, and are who are repatriating back to their national country overseas.

Most UK pensions, including those in pension fund withdrawal and alternatively secure pension , can transfer to a QROPS; as well as members with protected rights funds.

Where assets are illiquid or funds have exit penalties, an in specie transfer can normally be made.

State pensions, annuities, and pensions in payment from final salary schemes (where you are not being offered a transfer value) cannot be transferred.

( The QROPS Bureau)