QROPS Pension Funds
If you’re an expat, or you’re planning to live outside of the UK for an extended period, a QROPS pension can provide a valuable alternative to a UK pension.
Investors with UK pension rights, who want a better return on their money, often find that a QROPS is a great way to boost their pension funds.
Pensions are an intrinsic part of your overall wealth management strategy, so it makes sense to weigh up all of your options, especially if you’re planning to live or retire in a foreign country.
A Qualifying Recognised Overseas Pension Scheme, can give international workers and expats access to enhanced tax advantages and increased flexibility – allowing them more freedom to control their investments.
If you are considering a move abroad, getting some professional wealth management advice will help you to put a good financial planning strategy in place.
As part of this strategy, you should make sure that you ask your financial advisor about the benefits of transferring your UK pension.
The benefits of a QROPS pension include tax and inheritance advantages.
It does not function within the same limitations as a UK pension, so if you’re not planning on staying in the UK, there’s no reason for your pension funds to do so – by seeking advice on pensions from a wealth management advisor, you may find that by transferring your pension, your retirement will be even more enjoyable.
Advantages and Advice for Expats
Guardian Wealth Management has offices located across Europe and the Middle East, allowing us to provide quality pension advice to expats throughout the world.
Getting up-to-date financial planning advice is vital, so please feel free to ask us any questions you may have about the various expat pensions available.
As a brief overview, here are some of the main advantages of transferring your UK pension into a QROPS:
- No UK tax liability
- No need to purchase an annuity
- Investment flexibility including property, private assets, offshore funds, stocks and bonds
- No inheritance tax liability once you’ve been an expat for 5 years
- No minimum transfer threshold
- Consolidation of several UK pensions into one.
- Taking up to 30% of the pension fund as a tax-free lump sum.
- Investing in any currency, any stock market and a wide range of assets
Quality QROPS Advice
When looking for advice on wealth management, you should always make sure that your financial advisor is fully qualified and regulated to operate by the relevant financial authority.
Here at Guardian Wealth Management, our advisors are widely respected within the financial industry as leading experts on pensions.
By approaching us for your pension advice, you can be sure that you are getting the very best impartial information to enable you to source the best pension package from across the whole marketplace.
As you can see, there can be huge benefits for expatriates who transfer their UK pensions into a QROPS.
However, a transfer may not be suitable for everyone, so talk to one of our professional financial advisors to find out if a Qualifying Recognised Overseas Pension Scheme is the right choice for you.
For further information about pensions for expats, please feel free to download our FREE QROPS guide.
Read our QROPS FAQs
Keeping up with the QROPS Market