Transfer My Pension

Citizens in Britain frequently have an issue with finding the right investment for their retirement funds. This is especially true for those individuals who move out of the country. When they finally get their pensions, the money is taxed and it is always delivered in British pounds. Unfortunately, the pound is not the currency of choice, especially when living outside of the country. This has much to do with the fact that the British pound may not be worth the currency of the country the expatriate is living in.
As for QROPS is, it is an investment plan for British expatriates … Continue Reading

British citizens who are living permanently abroad often struggle with finding the right investment option for their retirement funds. British pension plans tend to keep the money tied up within the UK, making it difficult for the expatriate to access his or her funds. When money is made available, it is heavily taxed and is delivered in British pounds. Pounds are often not the currency of choice for those living abroad, creating a problem. The British government has recently made provisions to make it easier for expats to access and use their money while residing outside of the UK.
A QROPS, … Continue Reading

What is a QROPS?
QROPS stands for Qualifying Recognized Overseas Pension Scheme and is a pension scheme that is offered to those who hold a UK pension plan but reside in another country. There are tremendous financial benefits if you plan accordingly. Why do you have to plan? That’s because you want to be able to access your pension plan when it is time. However, there is a restriction that you have to wait 5 tax seasons after being a resident of the UK before you can begin taking tax-free withdrawals. This can easily translate into a waiting period of approximately … Continue Reading

Are you a British expatriate who is tired of all of the government regulations that are holding your pension funds out of your reach? Do you wish there was a way for you to access your money more easily, without requiring you to pay high taxes on the money you do use? Because you are a British citizen who is currently living overseas, you have one option that most UK citizens do not have.
You can invest your money in a Qualified Recognised Overseas Pension Scheme, otherwise known as a QROPS. QROPS funds are foreign investment funds that have been … Continue Reading

A QROPS Pension Transfer is a transfer of a UK Pension, or a “frozen” UK pension into another HMRC approved pension scheme, in a jurisdiction outside of the UK. QROPS means Qualifying Overseas Recognised Pension Scheme, and is a fantastic option if you have left the UK or are planning to leave the UK within 12 months. If you have the option and qualify for a QROPS Pension Transfer, it is something that you should definitely consider as the benefits far exceed the costs, and it is an easy way to increase the value of your estate. The reason that … Continue Reading

The Costa Del Sol is packed with leather-skinned British ex-pats soaking up every beam of sunshine that they were deprived of during their professional lives in Britain. The number of retirees fleeing soaring energy and food prices in their twilight years is growing rapidly and their destinations are getting more and more exotic.
This decision is based on a number of reasons, the most prevalent reason behind the climate being the quality of life that ones life savings can deliver in other economies. Of course for many seeking this sort of retirement meant giving up their pension schemes, however after legislative … Continue Reading

Over the last two years, expat pensioners in Europe have had to watch as the dwindling pound has impacted their pensions to the tune of over €4 billion. Foreign exchange brokers, HiFX reported that towards the end of 2008 this equated to a dip in average monthly pension income by €200. However, this is not the only way that Britons living abroad are being penalised though, as bank charges on pension transfers from the UK to foreign banks can scoop another £300 approximately off their annual income.  For those that are dependant almost entirely on monies they receive from their … Continue Reading

QROPS stands for Qualifying Recognized Overseas Pension Scheme and is a pension scheme that is offered to those who hold a UK pension plan but reside in another country. There are tremendous financial benefits if you plan accordingly. Why do you have to plan? That’s because you want to be able to access your pension plan when it is time. However, there is a restriction that you have to wait 5 tax seasons after being a resident of the UK before you can begin taking tax-free withdrawals. This can easily translate into a waiting period of approximately six years after … Continue Reading