AXIS Financial Consultants are a French regulated Courtier d’Assurance that specialize in retirement planning for expatriates. We also offer Assurance Vie based solutions for succession planning and reducing exposure to wealth tax in France.
UK Pension Transfers Overseas
We all know how important it is to plan our retirement in the most efficient and effective way possible. UK pension legislation allows expatriates to transfer their UK pensions to Qualifying Recognised Overseas Pension Schemes, otherwise known as QROPS.
QROPS – Features & Benefits
QROPS offer great flexibility in terms of how and when you can take pension benefits. These include:
- You can take a lump sum of up to 25% of your pension fund free of UK tax on retirement;
- Flexi-access drawdown facility;Individuals now have access to 100% of their UK pension fund after the age of 55;
- You can invest your pension, and take income and benefits in a currency of your choice;
- Assets held in a QROPS fall outside of your estate for UK Inheritance Tax purposes if you die while living overseas;
- You have access to funds managed by the world’s leading investment managers.
Individuals eligible for a QROPS pension transfer include:
- A UK national moving overseas
- Any national who has built up a UK pension
What type of pensions can be transferred to a QROPS?
A QROPS may be used to receive transfers from any UK registered pension scheme. These include:
- Occupational schemes (company pensions)
- Additional Voluntary Contributions (AVC)
- Small Self-administered Pension Schemes (SSAS)
- Self-invested Personal Pension Scheme (SIPPS)
- Personal Pensions
- Unsecured Pensions (income drawdown)
Keep up with developments in the QROPS sector
As UK pension legislation continues to change, it is important that individuals gain as much information as possible on the particulars of the schemes on offer.
If you would like further information on QROPS, please fill in this form