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What Is Qrops ?

If you are an expat or indeed any foreign person who has previously contributed to a UK pension scheme then an opportunity exists for you to mange how this money grows.

So what is QROPS? No, this is not a discussion about agriculture, it is about Qualifying Recognised Overseas Pension Schemes.

These are essentially pensions that can accept transfers from UK pension plans, provided certain UK Inland Revenue rules are adhered to.

Lots of expats have pension funds back in the UK and, just because they are not in the UK, it does not mean that these schemes should not be reviewed.

Your pension should deliver the right pension at the right time, in the right currency, in the right format, at the right tax rates taking account of the right tax residency at retirement. It should make sure that the right money goes to the right people upon death before or during retirement.

The right QROPS advice may well put you on the right track.

Failing to review your pension in the UK is not the right thing to do.

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