QROPS
Qualifying Recognised Overseas Pension Scheme
This scheme an excellent option for people of any nationality, who have accumulated a U.K. pension fund and are now living or planning to live out their retirement overseas (not necessarily in Malta). This pension scheme offers excellent flexibility and significant taxation and investment advantages allowing U.K. pension holders to get more out of their pension. People who are living inside or outside the U.K. can transfer their deferred company and personal pensions to a QROPS. All of our schemes have notified HMRC that they meet the conditions of a QROPS and can take full advantage of flexi-access drawdown.
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Advantages of QROPS
Ability to retire at an age to suit you and take benefits in a form that is best for the member.
Available to all nationalities with accrued UK pensions, leaving or having already left the UK.
Access to a wide range of investment opportunities free from income or capital gains tax.
Up to 30% lump sum available when drawdown commences.
For residents of countries that have a Double Tax Treaty (DTA) with Malta, this means it can pay pension income gross in accordance with HMRC’s requirements.
Fund growth is Tax Free.
Inheritance benefits under the pension scheme can be paid free of inheritance tax in the UK or Malta.
You can combine various smaller pensions into one large pot.
Avoid ongoing currency exchange fees in investing in the same currency as the country you reside in or in any currency of your choice.
Flexi-Access Drawdown available from the age of 55.
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A QROPS pension scheme is an excellent option for people of any nationality, who have accumulated a UK pension fund and are now living or planning to live out their retirement overseas (not necessarily in Malta).