Transfer your UK pension offshore.
It is now possible for UK Expats to be able to transfer their UK preserved pension funds offshore.
Since the 6th April 2006, "Pensions A day", Her Majesty's Revenue and Customs has introduced "QROPS" (Qualifying Regulated Overseas Pension Schemes) legislation, which simplifies Pension transfers for expatriates.
QROPS legislation now allows UK Expats living around the world, to move all of their UK Pension provision, except the state Pensions, to a more flexible Pension arrangement.
The benefits are as follows;
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After 5 years of the Pension monies being transferred to the QROPS scheme, then there will not be any compulsion for the retiring individual to purchase an annuity at retirement. |
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Once the Pension funds have been invested then the monies will be held in a portfolio bond and the monies may be invested freely in a wide range of collective investment funds. |
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The Pension monies are Inheritance Tax free for UK domicile individuals. |
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Protected Rights and GMP become "Non Protected Rights" once transferred. |
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You may transfer almost all types of UK personal and company pensions.
Essential works with a major British institution that is currently the only insurance company in Asia that has a QROPS trust certificate (via their trust lawyers) by Her Majesty's Revenue and Customs, for general use to the public.
Flexibility, tax-free growth and no inheritance tax - click here to contact us for more details. |
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