Annuities and QROPS

According to recent figures it is estimated that individuals could lose out on £10,000 plus of pension savings through delays by the provider dragging out the process of transferring pension savings into annuities. The data also showed that more than half of annuity transfer cases experience delays. Advisers in the UK are calling on the FSA to act on this problem and to speed up the process.

One of the major benefits of QROPS is that there’s no requirement to buy an annuity at any time. So the above statement shouldn’t be a worry. Comparing the long delays with annuity transfers to a QROPS transfers seems another easy win for QROPS as most QROPS applications take 3 – 4 weeks from beginning to end.

The nature of QROPS means that transfers from your UK pension provider to a QROPS is hassle free and seamless. QROPS.net will guide you through the process and make sure all the parties involved work together getting your QROPS started as fast as possible.

Contact QROPS.net today to see how we can help you