Since the 6th April 2006 "Pension A Day", Her Majesty's Revenue and
Customs has introduced "QROPS" (Qualifying Recognised Overseas Pension
Schemes) legislation, which simplifies Pension transfers for expatriates.
The corresponding EU "Freedom of Movement of Capital Act " has also
allowed your Pension to be moved free of taxation and across international
boundaries.
QROPS legislation now allows anyone with a United Kingdom Pension , living around the
world, to move all of their United Kingdom Pension provision, except the state
Pension, to a more flexible Pension arrangement, the benefits are as
follows:
1) After 5 years of the Pension monies being transferred to the QROPS
scheme, then there will not be any compulsion for the retiring individual
to purchase an annuity at retirement.
2) Once the Pension funds have been invested, then the monies will be
held
in a Portfolio Bond and the monies may be invested freely in a wide range
of investment funds.
3) The Pension monies are Inheritance Tax free for United Kingdom domicile
individuals.
4) Protected Rights and GMP may also be transferred.
Contact Pension Associates today to find out more about how this scheme can benefit you.
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