When you have a pension within the UK however are looking to get more gains advantage from this pension or wish to boost the flexibility of your pension then you can be thinking your options. You could have encountered the term QROPS - or Qualifying Recognised Overseas Pension Schemes - therefore you may well be wondering how they can benefit you. By taking a little QROPS advise from suitably experienced financial adviser you may be on the right track to finding more out of your pension.
There are a variety of explanations why people tend to transfer their UK pension to a QROPS. Some of such reasons could be growing their pension, having greater investment freedom, increasing tax efficiency or possibly releasing money. Whatever the explanation for taking this step with a pension plan it is very important always seek the advice of the relevant QROPS specialists who've the necessary experience and knowledge to steer and support you in this area.
If you have become a non-UK resident for tax purposes you might be able to transfer your pension overseas as well as in which case you might be considering seeking QROPS advice to enable you to maximise the investment and taxation benefits you get. Generally speaking you will get greater flexibility and will have the added benefit of being able to pass your pension onto your beneficiaries.
QROPS pensions are the ones which are established outside of the UK, which usually means in offshore locations such as the Isle of Man or Guernsey. If you move abroad you'll be able to take these pensions along with you and they then become controlled by the tax laws and pension rules that apply within this country. This means they are a flexible option and can in addition provide greater benefits than some UK pensions.
There isn't any greater recommendation on pensions than to consult a qualified person so in cases like this putting away some time to work with QROPS specialists prior to making any decision about transferring your pension is completely essential.
There are a variety of explanations why people tend to transfer their UK pension to a QROPS. Some of such reasons could be growing their pension, having greater investment freedom, increasing tax efficiency or possibly releasing money. Whatever the explanation for taking this step with a pension plan it is very important always seek the advice of the relevant QROPS specialists who've the necessary experience and knowledge to steer and support you in this area.
If you have become a non-UK resident for tax purposes you might be able to transfer your pension overseas as well as in which case you might be considering seeking QROPS advice to enable you to maximise the investment and taxation benefits you get. Generally speaking you will get greater flexibility and will have the added benefit of being able to pass your pension onto your beneficiaries.
QROPS pensions are the ones which are established outside of the UK, which usually means in offshore locations such as the Isle of Man or Guernsey. If you move abroad you'll be able to take these pensions along with you and they then become controlled by the tax laws and pension rules that apply within this country. This means they are a flexible option and can in addition provide greater benefits than some UK pensions.
There isn't any greater recommendation on pensions than to consult a qualified person so in cases like this putting away some time to work with QROPS specialists prior to making any decision about transferring your pension is completely essential.
About the Author:
If you want to get wQROPS advice why not check out the Finsbury Financial site where you can browse the services available from these qrops specialists.
No comments:
Post a Comment