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QROPS Benefits

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What are the benefits of transferring your pension to a QROPS?

  • You are able to increase your monthly income from your UK-SIPP pension plan assets whilst at the same time minimising your exposure to currency fluctuations
  • Pension rights transferred into a SIPP-QROPS-HMRC approved are also now protected from UK inheritance tax (as introduced in the October pre-budget statement)
  • No need to buy an annuity or ASP (Alternatively Secured Pension) after 75
  • You gain control of your retirement plan assets with the right to leave the assets in your plan to your chosen beneficiaries
  • You have the potential for increased growth of your retirement assets & reduced administration costs in comparison to your UK retirement plan
  • No UK income tax liability
  • 25% lump sum from retirement fund, 30% if resident outside the UK for more than 5 years
  • Fully portable from country to country
  • Greater flexibility in terms of how and when you draw down your assets

Do not hesitate to contact us if you have any queries.