QUALIFYING RECOGNISED OVERSEAS PENSIONS SCHEME (Q.R.O.P.S.)
Take control of your investments.
Available to individuals that have accumulated a UK pension fund, and who are no longer residing in the UK, QROPS allows members to take control of their investments and enjoy potentially lower tax rates, by means of transferring their pension fund to an overseas jurisdiction. You can look forward to benefits like no lifetime allowance charges and the ability to leave your fund to your chosen beneficiaries.
Frequently Asked Questions
Any non-UK resident (or UK resident with plans to leave the UK) is usually eligible to establish a QROPS regardless of their nationality.
Consideration must be given as to the most appropriate jurisdiction in which to establish the QROPS. This will depend on the individual’s country of residence and future plans.
It is possible to transfer most types of UK registered pension scheme to a QROPS. This includes both individual pension plans and employer-sponsored pension schemes.
It is not usually possible to transfer a pension that has already been converted to an insurance company annuity or a defined benefit pension that is already in payment.
No, it is not possible to transfer a UK State Pension entitlement.