The following outlines how long it may take to transfer your pension into a QROPS.
These times can vary, and depend on the speed information is given to your financial advisor by your existing pension provider.
You submit an enquiry
Your advisor sends you a Letter of Authority to complete – so they can speak to your current pension provider on your behalf
You email or fax the Letter of Authority and send the original
Your existing pension provider is then contacted to confirm its value and check it is eligible to transfer
You choose a jurisdiction with your financial advisor and complete the application forms
A discharge form is sent to your existing provider, and an application form is sent to the chosen QROPS provider
Your pension is then transferred into the QROPS – providing tax-efficient income in the currency of your choice with a wide range of investments to choose from