The Budget 2015 and QROPS

QROPS 2015 – The Winners and Losers So, the budget 2015 is out, who are the winners and losers in the QROPS arena? Notable winners include Malta, which is in the EU, so the rule surrounding having to use 70% of your pension for income for life does not apply. “That means if you transfer Read More

Up to £84m in Final Salary Pension Schemes May Be Transferred into QROPS

Massive Outflows of Final Salary Pension Schemes to QROPS on the Horizon An interesting article in the FT states that as much as six thousand savers in final salary pension schemes with pension pots estimated to total £840m may look to transfer their pension out to access the new pension freedoms in April this year. With Read More

Final Salary Transfers to QROPS Changes 2015

DB to DC Transfers Require UK FCA Regulated Adviser Final salary transfers to QROPS will likely take longer from April 2015, requiring a UK FCA regulated adviser to sign off on the pension transfers. Contributions from Defined Benefit (DB) final salary pension schemes to Defined Contribution (DC) money purchase pension schemes will now require a Read More

Malta QROPS to Allow Self-Managed QROPS and UK Pension Freedoms

On Wednesday,7th January the Malta Financial Services Authority (MFSA), the Maltese regulator, issued new and amended rules relating to pension schemes, pensions funds, their administrators and third-party service providers. This comes after the MFSA elected five new governors. The MFSA had been criticized recently for not stepping into the Maltese Cross affair which resulted in Read More