UK Pension Transfer – Make QROPS your Resolution for 2015

UK Pension Transfer – Is it right for me in 2015?

The new year always brings the opportunity to look towards the future, plan ahead and visualise what we want for the years to come.  Ensuring your UK Pension is serving you correctly whilst you live in Spain can be a real headache.  UK Pension Transfer can be quite long-winded and complex.  When you want to get to the bottom of how you pension is working for you and whether this improved with a QROPS UK Pension Transfer, it is essential to be well informed and prepared.  So how exactly can you give your pension a boost for 2015?  How can you ensure that it is working as hard as it should be?  Considerable tax planning opportunities may exist with a UK Pension Transfer to a Qualifying Recognised Overseas Pension Scheme (QROPS).  These are enhanced if you decide to move to a country such as Spain.

Amid reports of sweeping taxation changes to come this year, interest in QROPS is increasing exponentially to counteract the big changes being made by the exchequer.  It is now making more sense for many expats to consolidate their savings and invest in a QROPS pension.  So before we talk about whether a UK Pension Transfer is for you, it would be helpful to start at the beginning!

What is QROPS UK Pension Transfer?

QROPS are often called ‘offshore’ pensions as the providers work from outside the UK, as opposed to ‘onshore’ pensions which are UK based.  UK pensions generally limit the cash lump sum to 25% of any pension fund value. QROPS on the other hand can stretch to 30%, providing the scheme keeps 70% of the original transfer pot to provide a retirement income.
We suggest that rather than dealing directly with a provider, you work with a GC QROPS adviser who will tailor a QROPS to your personal financial circumstances.  Contact Us Today or call us on +34 698 243 745 for more information.


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