Monthly Archives:: March 2015

QROPS pension transfers explained

Posted by & filed under QROPS, QROPS pension transfers.

What follows is an explanation of the process involved when making a pension transfer from a UK scheme into a QROPS including; why transfer UK pensions abroad should you transfer options available pension transfer process Why transfer UK pensions abroad A QROPS pension scheme is subject to different rules and regulations compared with UK based pension plans. This… Read more »

Top QROPS benefits following rule changes

Posted by & filed under QROPS, QROPS pension transfers.

QROPS benefits overview which includes areas on consolidation, control, security, tax, and risk. QROPS advantages explained in detail in the article with a link through to QROPS guide downloadable pdf

QROPS (Qualifying Recognised Overseas Pension Schemes) apply HMRC rules in non-UK jurisdictions to offer multiple benefits over their UK pension counterparts. Following the latest pension amendments these advantages are as follows; Higher tax free lump sum (up to 30%) * Pay less income tax Avoid or reduce any lifetime allowance tax charge Investments can grow… Read more »

HMRC QROPS list explained

Posted by & filed under QROPS, QROPS list.

UK pensions can be transferred abroad into Qualifying Recognised Overseas Pension Schemes (QROPS). This allows them to be moved without being subject to an unauthorised payments charge that would otherwise have been due. To be deemed qualifying a QROPS must both be non UK based and follow certain rules set forth by HMRC (Her Majesty’s… Read more »

Investment options explained

Posted by & filed under Finance.

How to invest your money, whether in shares (stocks), bonds or another form, can be a daunting proposition. What follows is an in depth look at the investment process including: what is the difference between investing and saving, how do you go about investing, what options are available to invest into and what level of… Read more »

Pensions explained

Posted by & filed under Pension rules, UK Pensions.

What follows is a full explanation of pensions including; Definition of what a pension is United Kingdom options (defined benefit & defined contribution) Overseas options (including QROPS) Why pension transfers are used Pension benefits Pension drawbacks HMRC & the pension regulators’ involvement Rules and regulations Rule changes Pension reform Pensions and investments What is a pension A… Read more »

Defined contribution (money purchase) pension schemes

Posted by & filed under UK Pensions.

These are pensions whose performance is largely dependent on the underlying investments though an employer operated scheme may offer it’s employees certain guarantees in respect to the returns received. Unlike defined benefit schemes this does not extend to guaranteeing their annual retirement income. They are available through both company sourced and privately purchased plans.  … Read more »

Defined benefit (final salary) pension schemes

Posted by & filed under UK Pensions.

Defined benefit pensions, more commonly known as final salary schemes are a form of retirement plan which are/were solely offered by certain employers. They are most prevalent in the public sector, whilst the majority of private sector employees have either never had the opportunity to participate or have witnessed the closing of their scheme. Private… Read more »

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