Monthly Archives:: May 2015

Working abroad – the next steps…

Posted by & filed under Work abroad.

Link to downloadable guides - expat guide

Planning on moving abroad to work or have you already secured your ideal international job? Congratulations, you are now in what must be an exciting, possibly nervous time in your life. To help you on your journey, Liberty have produced a free expat guide which details useful information including points to remember when negotiating your… Read more »

HMRC lists QROPS providers

Posted by & filed under QROPS list.

Pensions - HMRC ROPS list: Breakdown of each jurisdictions QROPS providers.

HMRC have produced their latest Recognised Overseas Pension Scheme (ROPS) list detailing over 3,700 QROPS providers covering 45 jurisdictions. As mentioned before, HMRC’s QROPS list has morphed into the ROPS list though nothing has changed except the wording. To clarify, all QROPS providers are self certified and may not be qualified upon further scrutiny. Similarly,… Read more »

Weighing up QROPS benefits and drawbacks

Posted by & filed under QROPS.

QROPS benefits and drawbacks, pros and cons, advantages and disadvantages, strength and weakness graphic

Transferring your UK pension abroad into a suitable pension plan should only be considered after all of QROPS’ advantages and disadvantages are fully scrutinised.   Starting with the downsides of QROPS we will consider each point and determine whether any benefits outweigh them… MoreNon beneficial to UK residents with no intention of moving abroad If… Read more »

QROPS drawbacks – The downsides of transferring a UK pension abroad

Posted by & filed under QROPS.

Although QROPS offer multiple benefits over their UK pension equivalent they do have drawbacks as well. Following the latest pension amendments these disadvantages are as follows; Only benefits UK pension holders based abroad Not designed for the accumulation of further benefits Any existing pension rights will be lost Costs can exceed alternative options Risk of… Read more »

Early retirement – accessing your UK pension before 55

Posted by & filed under QROPS.

Would you like a way to retire early? Have you even considered the possibility of withdrawing money out of your pension before the state rules permit? For those based overseas, you may have heard that one benefit of transferring your pension abroad into a QROPS is the ability to do exactly this.   To explain,… Read more »

QROPS – Benefit crystallisation event

Posted by & filed under QROPS.

Are you aware that you can be taxed on your UK pension if it grows too much? Also, that if you reside outside the UK then you can avoid it by transferring your UK pensions into a QROPS? This is due to the rules surrounding benefit crystallisation events and the lifetime allowance (LTA). A major… Read more »

QROPS UK pension transfer mistakes

Posted by & filed under QROPS.

QROPS can be beneficial in the correct circumstances though due to bad or mis-informed advice it is possible that they may end up being a costly mistake.   To ensure you are not on the end of a QROPS mis-selling scandal it is important to be fully informed. Take these steps to establish whether a… Read more »

HMRC ROPS list (Prev HMRC QROPS list) – 1st May 2015

Posted by & filed under QROPS, QROPS list.

HMRC have issued their latest ROPS list. Following a clarification in wording it is no longer officially known as the QROPS list though unofficially it appears that nothing has changed with how the lists are composed. As before, QROPS* can self certify for their inclusion whilst other, legitimately qualified pension plans, may decide against being… Read more »

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