From the 6th April 2006 Pension transfers can be made to any overseas Pension scheme, this came about due to the Finance Act 2004, sometimes called Pension “A” day. Transfers may be made subject to the receiving scheme being registered with Her Majesty’s Revenue and Customs as a “QROPS” (Qualifying Recognised Overseas Pension Scheme). Almost all types of United Kingdom Pension may be transferred including:

• Personal Pension
• Company Pension Schemes, i.e.: Final Salary and Money purchase.
• Section 32
• Protected Rights
• GMP

Under current legislation all the above Pension, if they remain in the United Kingdom would eventually have to be used in the main to provide an Annuity income, at the latest by the age of 75.However upon transfer to a QROPS scheme there is no compulsion for you to have to have an Annuity at retirement.

In response to QROPS, Pension Associates works with a team of managers to provide you with an analysis of your United Kingdom Pension to determine if it is in your best interests to make a transfer to QROPS.

These transfer analysis reports break down the more technical aspects of your United Kingdom scheme for our Pension Associates Account Managers to recommend the best ways to manage your Pension.

For just 500 – 1000 GBP, you can find out more about how your Pension will benefit from QROPS, please contact Pension Associates today.

Limitations and Conditions apply.