What are QROPS?
QROPS are pension solutions for those leaving or who have left the UK.
Historically the transfer of existing UK Pension benefits to foreign jurisdictions was a complex process. Following ‘Pension Simplification’ which Her Majesty’s Revenue & Customs (HMRC) introduced in April 2006, changes occurred which now enable people, who are seeking to leave or who have already left the United Kingdom, to transfer their UK pensions abroad to HMRC pre-registered schemes called Qualifying Recognised Overseas Pension Schemes (QROPS).
Most UK Pension Schemes can be transferred to a QROPS including ‘protected rights’. The exceptions are typically State Pensions and most Final Salary Schemes already in payment.
QROPS offered by PANTHERA are all registered with HMRC and offer you the opportunity to transfer your UK registered pension scheme(s) abroad* by becoming a QROPS member.
Membership of our QROPS provides you with the following advantages:
- Unique and dependable backing
- Freedom to invest
- Tax efficient planning opportunities
- Asset protection
* Provided that a UK Registered Pension Scheme and the QROPS have the appropriate transfer out and transfer in powers respectively.
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