Before considering transferring your UK pension into a QROPS, you should always seek the expert advice of QROPS specialists. The QROPS specialist adviser should have a current understanding of HMRC rules and how UK pensions operate in terms of how you take your benefits and tax treatments. They should also be fully versed as to how taking your benefits from a QROPS scheme will impact you in the particular country you are living in overseas. This should include how you take your benefits as income and also relate to succession planning – one of the key benefits of QROPS
The best QROPS specialists are those who will analyze your pension properly and give you the benefits and drawbacks of transferring and leaving your pension where it is. They should be able to tell explain clearly the benefits you are currently receiving as well as the expected benefits should you elect for a QROPS. But the most relevant advice they can give you after analyzing your pension is whether or not it is right for you to set up a QROPS pension. Ultimately you should only make your decision when you fully understand the reasons for transferring into a QROPS scheme.
For further QROPS advice without obligation contact us now to talk to one of our QROPS specialists.
