QROPS Benefits

QROPS refers to a Qualifying Recognised Overseas Pension Scheme. A QROPS is available to anyone who is either Non-Resident, or intending to become non-resident within the next 18 months. It applies to all Nationalities; the important criteria is that they have worked in the UK and therefore have a UK pension.

The Benefits of a QROPS are:

  • Provides massive investment choice and keeps investment choice under your own control
  • Choose who your own investment manager should be: yourself or your own Trusted advisor/friend/li>
  • Avoids the need to drawdown the income when you might not be ready to do so
  • Provides 100% payout of benefits to widow/beneficiary without any deductions or taxation
  • Avoids purchasing unattractive UK annuities
  • No Lifetime Allowance penalties or restrictions
  • Facilitates access to funds earlier than Normal Retirement Date should you wish
  • Allows a 30% tax free lump sum at age 55 – from age 50 in the case of a Maltese QROPS Removes Capital Gains Tax on investment asset sales( Equities/Property)
  • Again in the case of Maltese QROPS, can remit a large proportion of the pension funds back into UK without Tax
  • Takes the remaining pension funds fully outside of your estate for Inheritance Tax purposes
  • Avoids all Osborne’s (UK Chancellor) recent penalties, annual charges and CGT imposed on properties in the UK owned by ‘non-natural persons’ i.e. companies

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