QROPS

8 Mar 2013

All of the people who will leave the UK or have already shifted from the UK to other countries and have a UK pension plan, here is good news for them. Our qrops specialists discuss pension transfers for British expats. Now all of them don t have to worry about getting their pensions regularly; QROPS is there to help them in every way possible in this matter. Qualifying recognized overseas pension scheme, known as QROPS, was first introduced in April 2006 as part of the initiative of the UK government’s pension simplification.

This system helps a person to transfer a UK pension to pension scheme Qualifying Recognised Overseas (HMRC Approved Schemes). Along with offers pension transfer, QROPS also facilitate people with a large number of financial benefits.

Currently, a variety of UK pension schemes can be submitted to the QROPS; occupational pension, stakeholder pension, personal pension, self invested personal pensions (SIPPs), retirement income schemes are used to contract-related state pension (SERPS) are the names of some. According to the norms of Her Majesty’s Revenue and Customs, a person will only be able to take advantage of QROPS if he / she is a non-tax resident for at least five years. Once a person meets these criteria, QROPS person will not be governed by Her Majesty’s Revenue and Customs.

This system helps a person to transfer a UK pension to pension scheme Qualifying Recognised Overseas (HMRC Approved Schemes). Along with offers pension transfer, QROPS also facilitate people with a large number of financial benefits. Authorities also said that a person can do QROPS transfer from one year to leave England.


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