HMRC to Close Around 40% of Australian QROPS Schemes

HMRC Attacks UK Pension Transfers to Australian QROPS HMRC may close around 40% of Australian super qrops schemes due to a technicality. Many British expats or Aussies who have transferred may be hit by a 55% unauthorised tax charge. HMRC have decided to go after large Australian superannuation funds that are on HMRC’s QROPS list. Read More

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