QROPS pensions are a rock in a sea of financial uncertainty for expats and international workers with UK pension rights.
Retirement planning is almost impossible in the UK with so many firms facing pension deficits, inevitable interest rate and tax rises.
For those lucky enough to have the option, a QROPS removes a lot of these problems.
A QROPS – which stands for qualifying recognised overseas pension scheme – is a special pension for anyone living outside the UK who has built up UK pension rights.
For the right investor, QROPS offshore pensions have five major benefits over a UK-based pension:
Stability
A QROPS is a safe haven for pension funds with a choice of about 40 different countries offering regulated schemes including the Isle of Man, Jersey and Guernsey. New arrivals on the QROPS scene include Gibraltar and Malta.
Flexibility
QROPS investments are available in currencies, markets and commodities closed to most UK pension investors.
Tax savings
QROPS pension benefits are paid without tax deducted and any income tax depends on the country where the investor lives – which does not have to be the same as where the QROPS is taken out.
Retirement benefits
Unlike a UK pension, QROPS savers have no obligation to buy a poor performing annuity or alternatively secured pension (ASP) with their fund.
Spending power
Most QROPS providers allow benefit payments in any major currency, which means fewer problems with exchange rate fluctuations and bank charges.
Anyone who wants to consolidate UK pension funds with a QROPS transfer has to go through an independent financial adviser, because QROPS providers insist clients are recommended to a scheme that fits their personal financial profile.
QROPS.net is a leading financial firm with many years experience helping expats with pension solutions. The firm has a successful track record of helping with hundreds of QROPS transfers every month.
Pension savers can also have confidence that while working with QROPS.net, they will deal with regulated, independent and unbiased advisers who will tailor a bespoke QROPS solution to meet their individual financial circumstances.
One of the big advantages of working with QROPS.net is the firm will place a client with the right QROPS provider to suit them out of the 1,400 or so schemes available worldwide.
