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Overseas Transfers

Pensions

Transferring pensions built up in the UK to a new jurisdiction can offer major tax and capital preservation advantages. In addition to offering expertise and experience, we offer clients the highest degree of control over their schemes.

Every Fedelta QROPS client has their own freestanding self-administered pension scheme with its own unique QROPS number. This allows clients to be trustees of their own pension scheme trusts and avoids the possibility of being tainted by the actions of others in mass marketed master-trust arrangements.

We are happy to meet with potential clients and/or their professional advisors, without cost or obligation. Contact us to investigate whether Fedelta pension planning could help you.

About QROPS

Under its Qualifying Recognised Overseas Pension Scheme (QROPS) regime, HMRC allows individuals who have left, or are intending to leave, the UK to transfer their accrued UK pension benefits to suitable schemes in other countries. Many of these countries have lower taxes and/or more flexible pension rules than the UK

and such transfers can often therefore result in significant advantages, such as:

  • no lifetime limit on accruing funds;
  • pension income in a currency of the member’s choice;
  • tax-free roll up within the scheme;
  • the potential to distribute residual assets to beneficiaries following death - tax free;
  • no requirement to purchase an annuity;
  • flexible pension drawdown options;
  • enhanced tax-free lump sums in some circumstances;
  • wide choice of investments.

In order to avoid a tax charge when making such a move, the overseas scheme needs to be accepted by HMRC as a QROPS and meet the requirements outlined in their Registered Pension Schemes Manual. At Fedelta, we are well versed in handling such transfers in a speedy, cost effective and efficient manner.

Confidence in Tradition