In our previous article ‘HMRC QROPS List’ we stated that as of 15 April 2015 the word “qualifying” from Qualifying Recognised Overseas Pension Schemes (QROPS) had been removed from HMRC QROPS list and now referred only to as ROPS (Recognised Overseas Pension Schemes). If you speak to anyone who has left (or thinking of leaving) …
Category Archives: QROPS
Pension Consolidation
Most people, during their career, will change jobs and accumulate a number of different pension plans. Having your pension plans in a number of different places may result in policies getting lost or forgotten about. Small pension plans may prove to be less cost effective to manage. And most importantly some pension plans may have …
HMRC QROPS List
Her Majesty’s Revenue and Customs (HMRC) QROPS list is a public resource that tells pension scheme administrators, financial advisers and investors if a Qualifying Recognised Overseas Pension Scheme meets the conditions to be a QROPS and has asked to be included on the list. HMRC QROPS list is published by the Pension Schemes Services (PSS) …
QROPS Malta Changes
6 April 2015 brought the implementation of a series of UK pension reforms, which also had an impact on Qualifying Recognised Overseas Pension Schemes (QROPS). One of the jurisdictions affected was Malta. Below we will outline the QROPS Malta changes. QROPS Malta changes will no longer allow benefits to be paid from age 50. The …
Independent Financial Advisers and QROPS
Independent Financial Advisers and QROPS play a significant part in the transfer of your UK pension overseas pension scheme. Independent financial advisers and QROPS are a specialist area of financial planning and assessments should only be performed by independent professional advisers who can take a holistic approach. Qualifying Recognised Overseas Pension Schemes (QROPS) was launched …