Expat QROPS and Pension Referrals
Expat QROPS and Pension Referrals Service:
Refer QROPS and expat pension clients and share fees and commissions on the following:
- UK Pensions Reviews for Expat Clients
- Expat Offshore Pension Plans
- Expat pensions in resident country
- Expat QROPS international pension transfers
- Tax implications for pensions locally and in UK
- Legality of pensions in resident country
- Legality/tax position of existing UK and offshore pensions in resident country
- Expat Pension Annuities
- Expat Pension Tax Free Cash Release
- Expat Unsecured Pension Drawdown
Have your clients: Left the UK? Planning to leave the UK? No intention of returning to the UK?Do they have any of the following UK pension plans? Personal Pensions, Executive Personal Pensions, Self Invested Personal Pensions or Free Standing Additional Voluntary Contribution schemes
International Pension Benefits: QROPS - Qualifying Recognised Overseas Pension Scheme
HM Revenue and Customs (HRMC) have arrangements where they have approved overseas pension schemes that you can legally transfer UK pension arrangements to known as a QROPS.
QROPS Key Benefits:
- BIGGER CASH LUMP SUM - QROPS may offer a higher cash fund than available in the UK
- SAVE TAX - QROPS pension income may be paid with no deduction of tax
- NO ANNUITY - QROPS may have no legal requirement to by an annuity at retirement. This means pensions companies do not keep your money when you die.
- INCOME CHOICE - QROPS may allow flexible ‘income drawdown’ known as ‘unsecured pension income’ to continue after age 75
- SAVE 35% TAX - QROPS, for ages below 75, does not have a 35% charge on death after 5 years of non-UK residence when in ‘income drawdown’ (unsecured pension income)
- SAVE 82% TAX - QROPS, for ages above 75, does not have a 82% charge on death after 5 years of non-UK residence when in ‘income drawdown’ (alternatively secured pension)
- BIGGER LEGACY - QROPS may allow pension fund to be paid on death to the estate or other nominated beneficiaries and not a windfall for the pension company or the tax man
- LOW COST - QROPS fees are deducted from the pension fund. Some QROPS have charges as low as £200-300 pa which means this market is now open to all sizes of pension fund.
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