QROPS & Investments

A transfer of a UK pension fund to a pension scheme provider in an overseas location such as Spain or Portugal is done via a Qualifying Recognized Overseas Pension Scheme or QROPS.

Since the Introduction of QROPS in 2006, the acronym has become ever increasingly prominent. However clients should be extremely cautious when considering whether a QROPS is right for them. Whilst QROPS themselves are regulated the advisers giving advice do not have to be, so BEWARE.

Potential benefits of QROPS:

• Freedom to Control Investments

• Flexibility to access funds

• Potential for an immediate cash lump sum payment

• No requirement to purchase an Annuity

• Access to income and capital without deduction of tax

• Transfer of the fund to future generations upon death

• Free from UK Inheritance Tax

• Tax planning

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