Pension drawdown & QROPS
Alongside the UK Pension Drawdown providers there are nearly 3000 Qualifying Recognised Overseas Pension Schemes (QROPS)
QROPS are offered in numerous jurisdictions around the world. These include :
- Australia: with nearly 900 QROPS
- Ireland: 600+ QROPS
- Guernsey: 275 QROPS and many not published.
- Spain: 15 QROPS (5 are with Santander)
- France: 32 QROPS
- South Africa: 28 QROPS
- Portugal: 23 QROPS
- Cyprus: 5 QROPS
- New Zealand 60+ QROPS
The UK Pension rules have been transformed since 6th April 2011 and are integral in deciding how to take pension drawdown in the UK or via QROPS.
Gerard Associates Ltd provides advice on the highly regulated UK Pension Drawdown system with options available abroad via QROPS.
The QROPS listed above can help you to avoid the most common reservations in UK Pension planning:
- Rules telling you what cash and income you have to take (and how UK flexible drawdown now provides significant flexibility).
- Explain the Death taxes from zero to 82%
- Whole raft of new rules, greater flexibility and higher death taxes applicable to UK Pensions from 6th April 2011.
- Possibility of not being able to transfer from certain pension schemes post April 2012.
But which is the right one for you?
- UK Pension drawdown or QROPS
- Where do QNUPS (Qualifying Non UK Pension Schemes) fit in ?
Why is Guernsey such a prominant QROPS jurisdiction with so few QROPS schemes compared to Australia and Ireland?
The new Pension Drawdown and QROPS are proving to be a revelation for UK Pension holders. With full approval from HMRC and simpler rules. UK Pensions funds will once again be the best investment you ever made.
Take control of your pension fund. But don't take risks!
UK Financial Services Authority authorised and regulated advice from Gerard Associates Ltd.