Retiring abroad is an exciting idea but leaving your pension behind in the UK when you do so can take a massive bite out of your savings. Investment restrictions and possible solvency issues will see your benefits slashed considerably. You will also have to deal with an excessive tax rate that will take away more and more from your beneficiaries.

QROPS opens up a wide range of options, offering people with frozen UK pensions a much-needed solution.

There are various advantages you can enjoy if your decide to transfer your pension into a QROPS (Qualifying Registered Overseas Pension Scheme) in a highly regulated jurisdiction. These include:

• A wide range of tax-planning options available to expats only
• Increased flexibility when it comes to investment choices, with a broad choice of assets to match your specific risk criteria
• Greater choice of currency
• A solid HMRC - recognised overseas pension in well-regulated jurisdictions like Malta and Gibraltar
• The ability to pass on the whole of the pension fund to beneficiaries in the event of death
• The potential consolidation of several UK pensions into one pension pot
• After five years of non-UK residence, you will no longer have to pay UK income tax
• No cap on value of the pension fund
• No purchase of an annuity required

Here at deVere Group, we will help you find the QROPS that is best for you, with all your personal circumstances and needs. During every stage of the process you will have all the information you need and developments will be relayed to you always. Our goal is to offer you flexible, tax-compliant solutions, wherever your new country of residence is.

Thanks to our partnerships with a vast array of investment houses, we can present you with numerous options from which you can take your pick, bringing the most competitive products on the marketplace within your reach.

Although the benefits of transferring your pension to a QROPS are self-evident, it is always highly recommended to seek professional advice from an independent financial advisory service before enrolling in such a scheme.

Get in touch with us to find out about the latest QROPS advice from the QROPS specialists.