Qualifying Recognised Overseas Pension Schemes (Q.R.O.P.S.) registration was introduced by Her Majesty’s Revenue & Customs on the 6th April 2006 (‘A’ Day) and allows for transferring UK pensions to an overseas jurisdiction provided that the receiving pension scheme in that country has ‘Q.R.O.P.S.’ registered status.
Since A day, Alexander Beard have been at the forefront of providing specialist and professional advice to people emigrating overseas. Should it be in your best interests to do so, we can help transfer your UK private or occupational pensions to a Q.R.O.P.S.
A lot of the time, people may have already left the UK who have left pensions behind in the UK. In many cases Q.R.O.P.S. may or indeed may not be the right answer for the future management of your UK pension monies and the payment of benefits.
In some cases, you may even have pension funds held in final salary / defined benefit schemes. Specialist advice from an appropriately qualified Financial Conduct Authority regulated adviser is insisted on by the scheme trustees. Alexander Beard can provide this advice and if appropriate transfer your pension to a Q.R.O.P.S.
In this respect particularly it is vital that clients’ take advice from a Financial Adviser who has authorised and regulated status from the Financial Conduct Authority in the UK and is licensed to conduct Pension Transfer Value Analysis work. Many unregulated international financial services businesses do not have either this status or the regulatory oversight that we believe is vital to offer advice in this important area.
For further information on our QROPS services please read or download the pdf below.