This document provides an overview of transferring UK pensions to Qualifying Recognized Overseas Pension Schemes (QROPS) through myQROPS. It outlines the benefits of transferring pensions overseas such as greater investment flexibility, avoiding UK taxes, and consolidating multiple pensions. The process of transferring involves myQROPS gathering information about existing UK pensions and submitting transfer paperwork. Client testimonials praise myQROPS for their professional service and for educating clients about pension transfer options.
This document contains frequently asked questions (FAQ) about same day loans, one hour payday loans, and no teletrack payday loans. It defines these loan types and explains that they provide short term, unsecured cash advances until the next payday. The approval process takes only a few hours and loans are deposited directly into a bank account. The main requirements are being over 18, employed, earning $1000/month, and having a bank account. Neither collateral nor perfect credit is required. Loan amounts are based on income and can be repaid in under 18 days. Borrowers can apply as needed but should avoid overdependence on payday loans.
EU Case Alert: CJEU deals a VAT blow to FS Businesses (DNB Banka / Aviva)Alex Baulf
1) Grant Thornton UK LLP is a member firm of Grant Thornton International Ltd (GTIL) that provides assurance, tax, and advisory services.
2) GTIL and its member firms are separate legal entities and are not liable for each other's acts or omissions.
3) This publication is intended as guidance only and Grant Thornton accepts no responsibility for any loss resulting from reliance on its content.
The document provides information about:
1) The process for reassessing existing incapacity benefits customers, which will involve a medical questionnaire and may include a Work Capability Assessment to determine eligibility for Employment and Support Allowance.
2) Details about the Employment and Support Allowance program, which will place qualifying customers into either the Work-Related Activity Group or Support Group.
3) Plans to introduce a single Work Program by 2011 to provide targeted assistance to those moving onto benefits.
Senator Joe Crisco's newsletter provides information on funding and initiatives in Derby, Connecticut. It announces $15,704 in federal stimulus funding for crime prevention, $600,000 for pavement rehabilitation, and a $25,000 grant from the CT Trust for Historic Preservation to fund architectural services for the Sterling Opera House. It also lists Senator Crisco's legislative initiatives, which include helping laid-off workers lower COBRA health coverage costs, expanding health care availability and affordability, and establishing a mortgage foreclosure assistance hotline.
The document discusses a meeting between the Highland Senior Citizens' Network and the Care Inspectorate. It provides quotes from both organizations about improving standards of care for the elderly in homes and communities. The Care Inspectorate inspects homes annually and can issue requirements, notices, or propose closure for those not meeting standards. The Network supports excellent care and working with the Inspectorate. It also discusses the Network's participation in a hiking challenge to raise funds and concerns about delays in home care assistance.
Ariel Levin offers social media marketing services including setting up accounts, training, strategy planning, managing social channels, and campaign management. With 15 years of marketing experience and fluency in Hebrew and English, she helps clients achieve results like more downloads, customer inquiries, newsletter signups, sales leads, engaged communities, brand awareness, and increased sales. Her work process involves understanding clients, studying their industry, crafting action plans and goals, launching paid advertising, and ongoing reporting and optimization.
This document contains frequently asked questions (FAQ) about same day loans, one hour payday loans, and no teletrack payday loans. It defines these loan types and explains that they provide short term, unsecured cash advances until the next payday. The approval process takes only a few hours and loans are deposited directly into a bank account. The main requirements are being over 18, employed, earning $1000/month, and having a bank account. Neither collateral nor perfect credit is required. Loan amounts are based on income and can be repaid in under 18 days. Borrowers can apply as needed but should avoid overdependence on payday loans.
EU Case Alert: CJEU deals a VAT blow to FS Businesses (DNB Banka / Aviva)Alex Baulf
1) Grant Thornton UK LLP is a member firm of Grant Thornton International Ltd (GTIL) that provides assurance, tax, and advisory services.
2) GTIL and its member firms are separate legal entities and are not liable for each other's acts or omissions.
3) This publication is intended as guidance only and Grant Thornton accepts no responsibility for any loss resulting from reliance on its content.
The document provides information about:
1) The process for reassessing existing incapacity benefits customers, which will involve a medical questionnaire and may include a Work Capability Assessment to determine eligibility for Employment and Support Allowance.
2) Details about the Employment and Support Allowance program, which will place qualifying customers into either the Work-Related Activity Group or Support Group.
3) Plans to introduce a single Work Program by 2011 to provide targeted assistance to those moving onto benefits.
Senator Joe Crisco's newsletter provides information on funding and initiatives in Derby, Connecticut. It announces $15,704 in federal stimulus funding for crime prevention, $600,000 for pavement rehabilitation, and a $25,000 grant from the CT Trust for Historic Preservation to fund architectural services for the Sterling Opera House. It also lists Senator Crisco's legislative initiatives, which include helping laid-off workers lower COBRA health coverage costs, expanding health care availability and affordability, and establishing a mortgage foreclosure assistance hotline.
The document discusses a meeting between the Highland Senior Citizens' Network and the Care Inspectorate. It provides quotes from both organizations about improving standards of care for the elderly in homes and communities. The Care Inspectorate inspects homes annually and can issue requirements, notices, or propose closure for those not meeting standards. The Network supports excellent care and working with the Inspectorate. It also discusses the Network's participation in a hiking challenge to raise funds and concerns about delays in home care assistance.
Ariel Levin offers social media marketing services including setting up accounts, training, strategy planning, managing social channels, and campaign management. With 15 years of marketing experience and fluency in Hebrew and English, she helps clients achieve results like more downloads, customer inquiries, newsletter signups, sales leads, engaged communities, brand awareness, and increased sales. Her work process involves understanding clients, studying their industry, crafting action plans and goals, launching paid advertising, and ongoing reporting and optimization.
http://www.wealthmanagementhongkong.com/ What Are QROPS Qualified Recognized Overseas Pension Schemes Hong Kong Hong Kong QROPS expert Gary Williams answers your FAQ regarding QROPS Pensions for UK British Expats in Hong Kong.
This document provides an overview and explanation of Qualifying Recognised Overseas Pension Schemes (QROPS). It discusses that a QROPS is an overseas pension scheme recognized by HM Revenue and Customs that can accept transfers of UK pensions. The main benefits of transferring a UK pension to a QROPS include increased tax efficiency, investment freedom, ability to withdraw up to 30% as a tax-free lump sum after 5 years of non-UK residency, and ability to pass on 100% of remaining funds to beneficiaries without inheritance tax. The document outlines these benefits and considerations in transferring a UK pension to a QROPS in more detail.
The document provides information about QROPS (Qualifying Recognized Overseas Pension Schemes), which allow individuals to transfer UK pensions to other jurisdictions when retiring abroad. A QROPS provides benefits like greater investment freedom, tax benefits, and the ability to pass pension funds to beneficiaries. The document outlines the eligibility requirements and benefits of transferring a UK pension to a QROPS scheme.
This document provides information about QROPS (Qualifying Recognized Overseas Pension Schemes), which allow individuals to transfer UK pensions to other jurisdictions when retiring abroad. Key points include:
- QROPS schemes must meet HMRC criteria to qualify, including being recognized in the country it is based.
- Transferring a UK pension to a QROPS offers benefits like greater investment freedom, tax efficiency, and ability to pass funds to beneficiaries.
- Individuals must be between 18-75 and have a substantial pension of at least £75,000 to qualify for a QROPS transfer.
- The deVere Group can provide advice on QROPS solutions and help
This document provides information about Qualifying Recognised Overseas Pension Schemes (QROPS) for British citizens living abroad. It discusses the benefits of transferring a UK pension to a QROPS, which include greater investment freedom, tax efficiency, no requirement to purchase an annuity, receiving income in your preferred currency, and being able to pass funds to beneficiaries free of UK tax. A QROPS also provides more flexibility in taking lump sums and income compared to UK pension schemes. The document outlines the criteria a scheme must meet to be considered a QROPS and notes individuals should seek advice from a specialist when deciding whether to transfer a pension overseas.
This document provides information about QROPS (Qualifying Recognised Overseas Pension Schemes), which allow individuals to transfer UK pensions to other jurisdictions when retiring abroad. Key points include:
- QROPS schemes must meet HMRC criteria like being recognized in the country and having maximum 30% lump sum withdrawals.
- Benefits of transferring to a QROPS include greater investment freedom, ability to pass funds to beneficiaries, and potential tax benefits depending on the country.
- Individuals must be between 18-75, have at least £50,000 in their pension, and plan to live overseas permanently or for 5+ years to qualify for a QROPS transfer.
The document provides information about QROPS Punjab, which is a Qualifying Recognized Overseas Pension Scheme that allows individuals to transfer their savings from UK-based pension funds to an authorized pension scheme in another country. It discusses eligibility, the benefits of transferring to QROPS Punjab such as tax benefits and investment freedom, and the process of transferring a UK pension to a QROPS through QROPS Punjab's advisors.
This document discusses transferring UK pensions to Qualifying Recognised Overseas Pension Schemes (QROPS). It notes that those who have lived and worked in the UK with a UK pension can transfer it to a QROPS to simplify taxation. QROPS schemes are available from Sovereign in Gibraltar, Isle of Man and Malta, and can offer tax advantages over UK pensions such as no UK tax on the pension. Sovereign is an experienced provider of international pension schemes and services.
This document discusses and compares two types of pension structures: SIPPs (Self Invested Personal Pensions) and QROPS (Qualifying Regulated Overseas Pension Schemes). SIPPs are UK-based pension plans that provide flexibility to invest in a wide range of opportunities. QROPS are international pension plans recognized by HMRC that are not subject to changing UK legislation and provide improved tax efficiency when residing outside the UK. The suitability of a SIPP or QROPS depends on factors such as country of residence, retirement plans, total pension funds, and tax implications. The document emphasizes getting personalized advice to determine the best option based on an individual's unique needs and circumstances.
This document provides an overview of early learning from the rollout of Universal Credit in four northern English regions known as Pathfinder areas. It summarizes preparations by housing associations, the claims process, identifying vulnerable claimants, payment options, data sharing, landlord-DWP relationships, and recommendations. Housing associations created new roles, trained staff, and monitored Universal Credit claims by tenants. The claims process involves an online application and job center interview. Vulnerable claimants may receive budgeting support. Landlords can request alternate payment arrangements if tenants fall behind on rent. The document aims to inform the further rollout of Universal Credit based on early experiences in the Pathfinder regions.
Mutual fund - Marketing Perspective, Investment Vehicles Plans in UAE, Abu Dh...Expat Wealth Care
A case study on Mutual Fund Management Marketing Perspective - investment vehicles plans in UAE, Dubai and Abu Dhabi. We offer best mutual funds investment plan in UAE.
Expat Pension Transfers Should You Transfer Your UK Pension.docxGed Ward
Transferring a UK pension to an overseas pension like a QROPS can provide several benefits, including more investment options on a global scale, lower fees, and more flexibility over how pension funds can be used and passed to beneficiaries. A QROPS also allows one to consolidate multiple pension pots into one portfolio and potentially reduce taxes on pension income and inheritances. However, a transfer may not always be suitable and professional advice should be sought to understand the costs and restrictions.
Expat Pension Transfers Should You Transfer Your UK Pension.docxGed Ward
Transferring a UK pension to an overseas pension like a QROPS can provide several benefits, including more investment options on a global scale, lower fees, and more flexibility over how pension funds can be used and passed to beneficiaries. A QROPS also allows one to consolidate multiple pension pots into one portfolio and potentially reduce taxes on pension income and inheritances. However, a transfer may not always be suitable and professional advice should be sought to understand the costs and restrictions.
Expat Pension Transfers Should You Transfer Your UK Pension.docxGed Ward
Transferring a UK pension to an overseas pension like a QROPS can provide several benefits, including more investment options on a global scale, lower fees, and more flexibility over how pension funds can be used and passed to beneficiaries. A QROPS also allows one to consolidate multiple pension pots into one portfolio and potentially reduce taxes on pension income and inheritances. However, a transfer may not always be suitable and professional advice should be sought to understand the costs and restrictions.
Expat Pension Transfers Should You Transfer Your UK Pension.docxGed Ward
Transferring a UK pension to an overseas pension like a QROPS can provide several benefits, including more investment options on a global scale, lower fees, and more flexibility over how pension funds can be used and passed to beneficiaries. A QROPS also allows one to consolidate multiple pension pots into one portfolio and potentially reduce taxes on pension income and inheritances. However, a transfer may not always be suitable and professional advice should be sought to understand the costs and restrictions.
Working to deliver better member outcomesHenry Tapper
This document provides an overview of AgeWage, an independent financial advisory firm, and Retirement Line, the UK's largest annuity intermediary.
AgeWage aims to provide clear and simple scoring and guidance on retirement options through an algorithm assessing pension funds. It advocates for thought leadership in advising clients and proposes a delegated model for ongoing oversight of appointed independent financial advisors.
Retirement Line arranges annuities through an automated online and telephone service. It specializes in enhanced annuities that provide higher payouts based on health factors. Retirement Line has achieved significant growth and high customer satisfaction ratings. It aims to secure the best retirement outcomes for clients through expert, contented staff.
The document is a financial magazine from Fairstone Financial Management Ltd that discusses several topics related to pensions and personal finance. It provides:
1) Answers to the top 10 most frequently asked questions about the recent pension reforms in the UK that give savers more flexibility over how they use their retirement savings from age 55.
2) A summary of the 10 key announcements from the recent UK Budget that could impact financial plans both positively and negatively.
3) An article discussing how it's important for savers to consider not just the investments they choose but also where they hold them, to maximize returns.
Pryce Warner International Group offers various international pension and retirement plans to expatriates and UK residents, including international pension plans, QROPS, and QNUPS. These plans provide benefits such as portability between countries, currency diversification, tax benefits, and investment options. Pryce Warner has over 40 years of experience providing financial services worldwide. They work with clients to set up personalized plans, including international pensions, and manage assets for retirement. Fees vary depending on the type of plan and services required.
George Osborne's 2014 budget statements significantly reformed pensions in the UK. Pension holders will now have much more flexibility over how they access their pensions after age 55. They can take their pension as a lump sum, multiple lump sums, or a flexible income. However, any withdrawals over the tax-free lump sum will be taxed as income, potentially up to 45%. Death benefits were also reformed to allow tax-free lump sums to be paid to beneficiaries regardless of their relationship to the deceased. Pensions are now a more flexible and tax-efficient savings and inheritance vehicle. Future pension contributions may be limited to £10,000 per year for those taking flexible income from their pensions.
This document summarizes the key points from an issue of a financial magazine published by Fairstone Financial Management Ltd. Some of the main topics covered include:
- Pensions freedom reforms allowing over-55s more flexibility over their retirement savings. Common questions about the changes are answered.
- Budget 2015 announcements from the Chancellor that could positively or negatively impact financial plans are reviewed.
- Analysis showing investing through investment companies rather than directly in the market has outperformed over the past decade. The biotechnology sector performed strongest.
- Concerns that some savers may make poor financial decisions or fall victim to scams due to the new pension rules.
http://www.wealthmanagementhongkong.com/ What Are QROPS Qualified Recognized Overseas Pension Schemes Hong Kong Hong Kong QROPS expert Gary Williams answers your FAQ regarding QROPS Pensions for UK British Expats in Hong Kong.
This document provides an overview and explanation of Qualifying Recognised Overseas Pension Schemes (QROPS). It discusses that a QROPS is an overseas pension scheme recognized by HM Revenue and Customs that can accept transfers of UK pensions. The main benefits of transferring a UK pension to a QROPS include increased tax efficiency, investment freedom, ability to withdraw up to 30% as a tax-free lump sum after 5 years of non-UK residency, and ability to pass on 100% of remaining funds to beneficiaries without inheritance tax. The document outlines these benefits and considerations in transferring a UK pension to a QROPS in more detail.
The document provides information about QROPS (Qualifying Recognized Overseas Pension Schemes), which allow individuals to transfer UK pensions to other jurisdictions when retiring abroad. A QROPS provides benefits like greater investment freedom, tax benefits, and the ability to pass pension funds to beneficiaries. The document outlines the eligibility requirements and benefits of transferring a UK pension to a QROPS scheme.
This document provides information about QROPS (Qualifying Recognized Overseas Pension Schemes), which allow individuals to transfer UK pensions to other jurisdictions when retiring abroad. Key points include:
- QROPS schemes must meet HMRC criteria to qualify, including being recognized in the country it is based.
- Transferring a UK pension to a QROPS offers benefits like greater investment freedom, tax efficiency, and ability to pass funds to beneficiaries.
- Individuals must be between 18-75 and have a substantial pension of at least £75,000 to qualify for a QROPS transfer.
- The deVere Group can provide advice on QROPS solutions and help
This document provides information about Qualifying Recognised Overseas Pension Schemes (QROPS) for British citizens living abroad. It discusses the benefits of transferring a UK pension to a QROPS, which include greater investment freedom, tax efficiency, no requirement to purchase an annuity, receiving income in your preferred currency, and being able to pass funds to beneficiaries free of UK tax. A QROPS also provides more flexibility in taking lump sums and income compared to UK pension schemes. The document outlines the criteria a scheme must meet to be considered a QROPS and notes individuals should seek advice from a specialist when deciding whether to transfer a pension overseas.
This document provides information about QROPS (Qualifying Recognised Overseas Pension Schemes), which allow individuals to transfer UK pensions to other jurisdictions when retiring abroad. Key points include:
- QROPS schemes must meet HMRC criteria like being recognized in the country and having maximum 30% lump sum withdrawals.
- Benefits of transferring to a QROPS include greater investment freedom, ability to pass funds to beneficiaries, and potential tax benefits depending on the country.
- Individuals must be between 18-75, have at least £50,000 in their pension, and plan to live overseas permanently or for 5+ years to qualify for a QROPS transfer.
The document provides information about QROPS Punjab, which is a Qualifying Recognized Overseas Pension Scheme that allows individuals to transfer their savings from UK-based pension funds to an authorized pension scheme in another country. It discusses eligibility, the benefits of transferring to QROPS Punjab such as tax benefits and investment freedom, and the process of transferring a UK pension to a QROPS through QROPS Punjab's advisors.
This document discusses transferring UK pensions to Qualifying Recognised Overseas Pension Schemes (QROPS). It notes that those who have lived and worked in the UK with a UK pension can transfer it to a QROPS to simplify taxation. QROPS schemes are available from Sovereign in Gibraltar, Isle of Man and Malta, and can offer tax advantages over UK pensions such as no UK tax on the pension. Sovereign is an experienced provider of international pension schemes and services.
This document discusses and compares two types of pension structures: SIPPs (Self Invested Personal Pensions) and QROPS (Qualifying Regulated Overseas Pension Schemes). SIPPs are UK-based pension plans that provide flexibility to invest in a wide range of opportunities. QROPS are international pension plans recognized by HMRC that are not subject to changing UK legislation and provide improved tax efficiency when residing outside the UK. The suitability of a SIPP or QROPS depends on factors such as country of residence, retirement plans, total pension funds, and tax implications. The document emphasizes getting personalized advice to determine the best option based on an individual's unique needs and circumstances.
This document provides an overview of early learning from the rollout of Universal Credit in four northern English regions known as Pathfinder areas. It summarizes preparations by housing associations, the claims process, identifying vulnerable claimants, payment options, data sharing, landlord-DWP relationships, and recommendations. Housing associations created new roles, trained staff, and monitored Universal Credit claims by tenants. The claims process involves an online application and job center interview. Vulnerable claimants may receive budgeting support. Landlords can request alternate payment arrangements if tenants fall behind on rent. The document aims to inform the further rollout of Universal Credit based on early experiences in the Pathfinder regions.
Mutual fund - Marketing Perspective, Investment Vehicles Plans in UAE, Abu Dh...Expat Wealth Care
A case study on Mutual Fund Management Marketing Perspective - investment vehicles plans in UAE, Dubai and Abu Dhabi. We offer best mutual funds investment plan in UAE.
Expat Pension Transfers Should You Transfer Your UK Pension.docxGed Ward
Transferring a UK pension to an overseas pension like a QROPS can provide several benefits, including more investment options on a global scale, lower fees, and more flexibility over how pension funds can be used and passed to beneficiaries. A QROPS also allows one to consolidate multiple pension pots into one portfolio and potentially reduce taxes on pension income and inheritances. However, a transfer may not always be suitable and professional advice should be sought to understand the costs and restrictions.
Expat Pension Transfers Should You Transfer Your UK Pension.docxGed Ward
Transferring a UK pension to an overseas pension like a QROPS can provide several benefits, including more investment options on a global scale, lower fees, and more flexibility over how pension funds can be used and passed to beneficiaries. A QROPS also allows one to consolidate multiple pension pots into one portfolio and potentially reduce taxes on pension income and inheritances. However, a transfer may not always be suitable and professional advice should be sought to understand the costs and restrictions.
Expat Pension Transfers Should You Transfer Your UK Pension.docxGed Ward
Transferring a UK pension to an overseas pension like a QROPS can provide several benefits, including more investment options on a global scale, lower fees, and more flexibility over how pension funds can be used and passed to beneficiaries. A QROPS also allows one to consolidate multiple pension pots into one portfolio and potentially reduce taxes on pension income and inheritances. However, a transfer may not always be suitable and professional advice should be sought to understand the costs and restrictions.
Expat Pension Transfers Should You Transfer Your UK Pension.docxGed Ward
Transferring a UK pension to an overseas pension like a QROPS can provide several benefits, including more investment options on a global scale, lower fees, and more flexibility over how pension funds can be used and passed to beneficiaries. A QROPS also allows one to consolidate multiple pension pots into one portfolio and potentially reduce taxes on pension income and inheritances. However, a transfer may not always be suitable and professional advice should be sought to understand the costs and restrictions.
Working to deliver better member outcomesHenry Tapper
This document provides an overview of AgeWage, an independent financial advisory firm, and Retirement Line, the UK's largest annuity intermediary.
AgeWage aims to provide clear and simple scoring and guidance on retirement options through an algorithm assessing pension funds. It advocates for thought leadership in advising clients and proposes a delegated model for ongoing oversight of appointed independent financial advisors.
Retirement Line arranges annuities through an automated online and telephone service. It specializes in enhanced annuities that provide higher payouts based on health factors. Retirement Line has achieved significant growth and high customer satisfaction ratings. It aims to secure the best retirement outcomes for clients through expert, contented staff.
The document is a financial magazine from Fairstone Financial Management Ltd that discusses several topics related to pensions and personal finance. It provides:
1) Answers to the top 10 most frequently asked questions about the recent pension reforms in the UK that give savers more flexibility over how they use their retirement savings from age 55.
2) A summary of the 10 key announcements from the recent UK Budget that could impact financial plans both positively and negatively.
3) An article discussing how it's important for savers to consider not just the investments they choose but also where they hold them, to maximize returns.
Pryce Warner International Group offers various international pension and retirement plans to expatriates and UK residents, including international pension plans, QROPS, and QNUPS. These plans provide benefits such as portability between countries, currency diversification, tax benefits, and investment options. Pryce Warner has over 40 years of experience providing financial services worldwide. They work with clients to set up personalized plans, including international pensions, and manage assets for retirement. Fees vary depending on the type of plan and services required.
George Osborne's 2014 budget statements significantly reformed pensions in the UK. Pension holders will now have much more flexibility over how they access their pensions after age 55. They can take their pension as a lump sum, multiple lump sums, or a flexible income. However, any withdrawals over the tax-free lump sum will be taxed as income, potentially up to 45%. Death benefits were also reformed to allow tax-free lump sums to be paid to beneficiaries regardless of their relationship to the deceased. Pensions are now a more flexible and tax-efficient savings and inheritance vehicle. Future pension contributions may be limited to £10,000 per year for those taking flexible income from their pensions.
This document summarizes the key points from an issue of a financial magazine published by Fairstone Financial Management Ltd. Some of the main topics covered include:
- Pensions freedom reforms allowing over-55s more flexibility over their retirement savings. Common questions about the changes are answered.
- Budget 2015 announcements from the Chancellor that could positively or negatively impact financial plans are reviewed.
- Analysis showing investing through investment companies rather than directly in the market has outperformed over the past decade. The biotechnology sector performed strongest.
- Concerns that some savers may make poor financial decisions or fall victim to scams due to the new pension rules.
2. OVERVIEW
As the number of British nationals emigrating overseas increases, and a growing
population of international workers spend part of their working life on UK soil,
international pension planning is becoming a more relevant topic. Over 5.5
million Brits now live abroad, many of whom have pensions which remain in
corporate or private pension schemes in the UK. Typically, they will have no
control over how these funds are managed, and little knowledge of the overall
performance of their various pension schemes.
The demand for transferring UK pensions away from large corporate pension
schemes is fast increasing, with many people recognising the growing risk of poor
performance or underfunding reducing their future pension payments. Official
figures released at the beginning of 2016 stated that 85% of all UK final salary
pension schemes are underfunded, and the vast majority of these are seeing
funding deficits increase faster than ever before.
Funding deficits aside, many individuals are unaware of the options available to
them with regards to their frozen UK pensions, and could be missing out on the
range of benefits on offer through the UK Government's QROPS (Qualifying
Recognised Overseas Pension Schemes) and SIPP (Self Invested Personal
Pensions) initiatives.
3. WHO ARE WE?
stablished by a group of e perienced UK and international financial planning professionals, myQROPS was incorporated with the goal of bringing international
pension planning into the 21st century.
In an industry which is often over-complicated through a lack of transparency and outdated paper-based processes, we have adopted a low cost online
platform-based model, which enables clients to consolidate, monitor and manage their UK pensions at the click of a button.
Operating from our mantra - simple, secure, savings - our goal is to become the 'go-to' service provider for UK pension transfers around the world.
4. WHAT IS A QROPS?
Quite simply, it is a system introduced by the UK government, designed to allow
people living overseas to transfer and consolidate any remaining pensions away
from the UK and into an approved overseas pension scheme.
Prior to 2006, when a person would leave the UK their pensions would be
frozen (as they were no longer being contributed into), and would remain so
until the person reached the pension scheme retirement age, typically 65. This
would leave the holder of the pension without any access to those funds until
the specified retirement age, and when the retirement benefits were paid out
they would still have to follow UK pension rules.
This all changed in 2006 when R created the system known as QROPS -
which stands for Qualifying Recognised Overseas Pension Scheme.
Transferring your pensions into a QROPS allows you to take advantage of the
much greater fle ibility and options of an overseas jurisdiction, while at the same
time retaining the security of a system legally recognised by R .
5. WHAT ARE THE BENEFITS
OF QROPS?
If you are living outside of the UK, transferring your UK pensions into a QROPS based
in another jurisdiction can add significant fle ibility to your retirement options.
There are many reasons that people may look to transfer their UK pensions into a
QROPS, some of the main advantages are
• A greater freedom of investment with the fle ibility offered by a wider range of
investment options.
• The ability to pass on the full amount of funds to your chosen beneficiaries upon
death.
• The ability to take benefits from age 55 (as opposed to 65 in many UK pension
schemes).
• Removing e posure to UK income ta .
• Up to 0% of the fund accessible as a ta free lump sum.
• old the pension in a currency of your choice (only GBP available in the UK).
• onsolidation of multiple pensions enabling ease of administration and access to
funds.
6. WHY myQROPS?
e position ourselves as an industry leading, cost-efficient and transparent means of transferring and consolidating your UK pensions. Our uni ue online
investment platform gives us the ability to offer clients an unrivaled range of investment options for their pension, at a fraction of the cost of a traditional advisory
or brokerage firm.
All myQROPS clients have 2 / online access to monitor and manage their pension funds. e provide clients with complete control over how their fund is
invested - with the options of either selecting large asset management firms to manage these funds, or by taking a more 'hands-on' investment approach. Unlike a
traditional investment broker, we don't sell investments or earn any commissions - we simply provide clients with access to a large range of managed investment
funds, and do so working from a transparent, low cost approach.
7. YOUR JOURNEY
e understand that pension transfers aren't always at the top of people's to-do
list, and so we take a proactive approach by handling all of the re uired leg work.
The pension transfer process is typically as below - and at no stage are you
locked in or re uired to proceed if you don't wish to.
1) An initial phone conversation to discuss your current pension
arrangements and some background details on pension transfer options.
2) The information gathering stage - we will send you our etter of
Authority which enables us to round up the latest details (statements,
valuations etc.) for all of your UK pensions, and compile everything
together before emailing this across to you.
) A follow up conversation, where we will discuss the details collected
from your e isting pension providers, before introducing some of the
options available to you.
) A summary of our conversation is emailed to you, along with any additional
information which may be relevant.
5) If you decide that you would like to transfer/consolidate your pensions, we
will prepare all of the relevant paperwork and arrange an appointment to
complete the re uired forms.
6) verything is sent to our office, checked by our compliance team, and then
sent to the relevant pension trustees in the UK.
) The transfer is approved, and the funds should be transferred to your new
pension scheme within - 6 weeks of completing the paperwork.
8) ou receive confirmation of the transfer, along with your online platform log
in details. A member of our investment team will get in touch to introduce
your online platform account and the various investment options available to
you.
8. CLIENT TESTIMONIALS
“The myQROPS team spent a great deal of time ensuring that I was fully aware and understood each phase of the pension transfer process. y uestions were all
answered thoroughly, making it a pleasure to do business with their team. I have no reservations in recommending them to anyone that might re uire assistance with their
UK pension.”
M Humphreys (IT Manager,Australia)
“myQROPS contacted me and asked whether I had previously looked into the various options for transferring my frozen UK pension. aving initially thought that my pension
would be fairly small, I hadn't give this much thought, but decided to allow their pension tracing team to en uire on my behalf into the amount that I was entitled to. They did
all the legwork of liaising with my old employer in the UK, and following some further discussion, transferred my pension into a QROPS. I am now able to monitor and
manage this online, and am thoroughly happy with their service. I would recommend these guys to anyone who may have any old pensions left in the UK..”
T Danny (Director, Singapore)
“The myQROPS team took great care in tracking down and gathering all of my pension schemes, many of which I had lost track of completely. Their approach was
very professional and I would recommend the same service to any others out there trying to protect their pensions.”
L Brown (Senior Quantity Surveyor, New Zealand)
“I had been thinking about my UK pensions for quite a while, but had always decided not to do anything with them after hearing various recommendations. A conversation with
Daniel shed light on this whole topic, and made the options available to me very simple.After speaking to a couple of other companies, I decided to go with myQROPS, and
haven’t regretted that decision at any point. I look forward to the ease of dealing with this now that my pensions have been transferred into one single pot.”
P Low (Accountant, on on )
“ i guys - ust wanted to thank you for your professionalism and personal touch dealing with my pension transfer - documents were daunting - you certainly made the
swap over easy and now I have the ability to select from an amazing breadth of funds to better manage my future pension - a very happy customer.”
o son ( ro e t ana er, New Zealand)
“I'd been thinking about my UK pension schemes for a while but kept putting any action off. ad I know how easy it was, I would have sorted it years ago. Good job and
would definitely recommend myQROPS to anyone who hasn't transferred their pensions yet.”
D Ashford (Senior Engineer,Australia)