Since Qualifying Recognised Overseas Pension Schemes (QROPS) was launched in April 2006 by Her Majestys Revenue and Customs (HMRC) as a part of new legislation with the objective of simplifying pensions, there has been so much written about QROPS. We have decided to attach some QROPS facts and figures relating to the regulation of these …
Tag Archives: uk pensions
Annuity Incomes hit ‘all-time lows’
Annuity rates have collapsed to all-time lows just weeks after the new pension freedom reforms came into force, according to financial website Moneyfacts.co.uk. The new reforms mean that pension savers are no longer required to buy an annuity, which gives a guaranteed income for life. The research that show that after a disappointing 2014, in …
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 …
UK Pension Changes
As of 6 April 2015, UK pension changes has now made it that people aged 55 and over have access to their pension pot, giving them full discretion over the use of their retirement funds. People over 55 can withdraw the full amount from their pension, of which 25% will be tax free. A survey …
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 …