QROPS


Qualifying Recognised Overseas Pension Scheme, or QROPS is an overseas pension scheme that meets certain requirements set by Her Majesty’s Revenue and Customs(HMRC).

A QROPS must have a beneficial owner and trustees, and it can receive transfers of tax-relieved UK pension benefits. The QROPS programme was part of UK legislation launched on 6 April 2006 as a direct result of EU human rights requirements of the freedom of capital movement.

A QROPS was later renamed ROPS (Recognised Overseas Pension Scheme), but is still popularly known as a QROPS.

A QROPS is suitable for UK pension holders who wish to emigrate abroad permanently and transfer their pension schemes out of the UK tax net.

Both defined contribution & defined benefit pension schemes can be transferred, although HMRC frowns on final salary pension transfers due to the loss of a guaranteed pension income for life.

All QROPS Articles

The Top 100 British Expat Destinations


Top 100 Most Popular Expat Destinations Over 5 million Brits live abroad or about 1 in 10 of the entire British population. Many are posted abroad by their companies. Most are looking for sunnier climates. Outside of the United Kingdom and its Overseas Territories, the largest proportions of people of self-identified ethnic British descent in the

Read More

All QROPS Articles, Brexit and Pensions, QROPS

Transferring a Final Salary Pension Scheme to a QROPS


Transferring a Defined Benefit Pension Scheme to a QROPS The Financial Conduct Authority (FCA) have written a report concerning transfers of final salary pension schemes abroad. In the 58 page report, PS 18/20,  regarding safeguarded benefits on 4th October, 2018, Christopher Woolard, FCA’s Executive Director of Strategy and Competition said: “These new rules will mean advisers

Read More

All QROPS Articles, QROPS

38 Tips for Moving to Europe


Tips for Moving to Europe Here is your moving to Europe checklist. If you are thinking about moving to Europe, this is a useful guide of things to know before moving to Europe. As an expat who has lived abroad for more than 20 years, I wish I had read such an informative guide before

Read More