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  • The Treasury announces it is to lower the tax free pension annual contribution
    21.12.2012

    An announcement by the Chancellor last week, was made to lower the limit on lifetime tax-free pension savings. Which meaning a punitive rate of tax will be levied on all pension pots totaling more than £1.25 million. A male worker in the private sector would have to save £1.44 million to receive a £43,387 pension at current annuity rates. A woman would need to save £1.34 million. Ministers said the cap would …

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Wealth Management – QROPS Pension Funds

Wealth Management – QROPS Pension Funds

If you are an expat, or you are likely to live outside the UK for any extensive period, a QROPS pension can offer an invaluable option to a UK pension. Individuals with UK pension rights, who would like a much better return on his or her cash, usually see that QROPS is a superb way to increase their pension funds. Pensions are an important component of your entire wealth management strategy, therefore it is sensible to compare all your options, particularly if you’re intending to live or retire within a foreign country.

A QROPS, or Qualifying Recognised Overseas Pension Scheme, can provide international workers and expats entry to increased tax advantages and increased versatility – permitting them much more freedom to manage their investments.

If you’re planning on a move abroad, benefiting from professional wealth management advice will help you put the right financial planning strategy in place. Within this strategy, you should ensure you ask your financial advisor about the advantages of moving your UK pension to a QROPS.

The advantages of a QROPS pension include things like tax and inheritance advantages. A QROPS doesn’t function around the same restrictions as a UK pension, therefore if you are not thinking about remaining in the UK, there’s no reason at all for your pension funds to do so – by seeking information on QROPS pensions using a wealth management consultant, you might find that by moving your pension, your retirement is going to be even more pleasurable.

QROPS Pensions – Advantages and Advice for Expats

Guardian Wealth Management has offices situated throughout Europe and also the Middle East, allowing us to offer quality QROPS pension advice to expats around the world. Obtaining up-to-date financial planning advice is essential, so feel free to ask us any questions you will likely have concerning the numerous QROPS pensions that are offered.

As a brief overview, here are a few of the main benefits of transferring your UK pension to a QROPS:

  • No UK tax liability
  • Investment flexibility including property, private assets, offshore funds, stocks and bonds
  • Investing in a different currency, any stock market and also a broad range of assets
  • No inheritance tax liability once you’ve been an expat for 5 years
  • No minimum transfer threshold (depending upon the QROPS)
  • No need to purchase an annuity
  • Consolidation of a number of UK pensions into one QROPS
  • Taking as much as 30% of your pension fund as a tax-free lump sum.

Quality QROPS Advice

When searching for information on wealth management, it is best to ensure your financial advisor is properly accredited and regulated to operate via the relevant financial authority. Here at Guardian Wealth Management, our experts are greatly respected in the financial industry as leading specialists on QROPS pensions. By approaching us for QROPS advice, you can be certain that you’re obtaining the best impartial information to help you source the right QROPS plan from over the whole marketplace.

Obviously, there may be huge advantages for expatriates who move their UK pensions into a QROPS. Nevertheless, a QROPS transfer might not be ideal for everybody, so speak with one of our expert financial advisors to discover if a QROPS is the right choice for you.

For more information regarding QROPS pensions for expats, don’t hesitate to download our FREE QROPS guide.

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