A Qualifying Recognised Overseas Pension Scheme (QROPS) is a HMRC-recognised pension transfer scheme that is based in a jurisdiction outside the UK which maintains the same standards or equivalent as a UK pension.

If you are thinking of moving away from the UK but have a local pension, then those savings are easily transferrable into a QROPS, provided that the overseas scheme of your choice is registered with HMRC and fully compliant with the standards of the jurisdiction it is domiciled in. The popularity of QROPS schemes has risen considerably following the introduction of new pension rules in 2012 by HMRC.

A Qualifying Non-UK Pension Scheme (QNUPS) is an overseas pension scheme in which cash and assets that are not eligible for UK tax relief can be contributed. QNUPS regulations were introduced by UK HM Revenue & Customs (HMRC) on 15th February 2010. The creation of the QNUPS legislation has provided significant investment and savings opportunities for British nationals, whether they are expats or still residents of the UK.

A QNUPS offers an excellent vehicle to top up the overall amount of assets and capital that needs to be set aside for a comfortable retirement, as many individuals do not have enough capital within their existing pension scheme to provide them with the level of income they will require in retirement. If you’re thinking of transferring your pension to a QNUPS, an actuary will help you establish the level of retirement benefits required to sustain your standard of living in retirement. Based on that information, a sensible funding level of contributions to the QNUPS can be settled with your financial adviser

A SIPP is a type of UK-government-recognised personal pension scheme which allows clients and their financial adviser to choose from a wide range of investments that are approved by HM Revenue & Customs (HMRC). Therefore, a client can freely choose how their money is invested.

With the help of a financial adviser, a SIPP allows you to decide what type of investments to invest in depending on your risk appetite and timeframe until retirement. Since regulations surrounding UK pensions changed in 2006, you can pay as much as 100% of your salary into the scheme each tax year, as long as it does not exceed £40,000 (2013/14). On the other hand, if you become retired or unemployed you can still continue to invest in your SIPP with a limit of £3,600 per year.

It is essential that you start to plan for your retirement as early as possible so that you are able to live comfortably in the knowledge that your lifestyle needs are covered. This will mean careful consideration of your pension fund throughout your working life.

Through the European Union Retirement Benefits Scheme (EURBS) savers considering a move to a different country can transfer their accumulated pension savings into a more tax-efficient jurisdiction.

Changes in European Union legislation has allowed for an unprecedented freedom of movement. This means that pensions now have to travel with them and hence rules and regulations on that matter has been amended as such, allowing people to move to their destination of choice and transfer their substantial funds with them.

Finding out what type of UK Pension you have was working for a private company in the UK. There are 2 main types: Defined contribution - a pension pot based on how much is paid in. Defined benefit - usually a workplace pension based on your salary and how long you've worked for your employer.

If you took a QROPS, QNUPS, and SIPPS from 2014, and you would feel that the company you choose and the trust that advice you were unsatisfactory and misleading i.e. you have in fewer funds, your investment amount less than you transfer amount, We have a legal team based in the UK to help you to recover yours loses NO WIN NO FEE 95% success rate.