QROPS. UK Private Pension Transfer Solutions

In the Finance Act 2004, which came on to the statute books in April 2006 and was widely known as Pension Simplification HMRC made it significantly easier to export pensions for those who have, or those who imminently intend to emigrate.

For the thousands of ex-pats all over the world and especially here on the Costas this has been a welcome measure, especially in these more constrained times, with poorer savings rates and moving exchange rates.

Whether one should export ones pension will depend upon a number of factors, too varied to explore here, however it behoves anyone who has deferred pensions in the UK and does not intend to return, to at least explore the possibilities.

There can be very real benefits in considering a transfer solution, both in terms of what you may be able to release now and in what you can leave behind for your dependants.  Of course, individuals circumstances are different and there is no “one size fits all answer” it really is a matter of exploring the opportunity, comparing the benefits, and judging for yourself if a QROPS offers you worthwhile solutions.

Want to know more? Click Here