QROPS & Retirement Planning

Should I Transfer my Existing Pension into a QROPS?


Qualifying Recognised Overseas Pension Schemes were introduced in the UK Finance Act of April 2006 also known as “A” day and then further amended by legislation in April 2011 to eliminate some of the bad practices allowed by some jurisdictions. As a result of which you are now able to transfer your UK Pension benefits into a HMRC approved overseas pension arrangement irrespective of whether benefits have been deferred or you are already in drawdown. A transfer to a QROPS pension offers you the opportunity to enjoy a pension fund which can then be passed on to your beneficiaries as a lump sum without the punitive tax charge of 55% that applies to pension drawdown benefits in the UK. In addition, dependent on your country of residence, the tax applied to any income that you draw can be significantly lower than in the UK where income is taxed at your highest marginal rate. In Spain, for example, after the deduction of personal allowances the rate of tax on pension income can quite often be less than 3%.

It is possible to run your QNUPS alongside your QROPS for maximum tax efficiency. This combination provides a very powerful tool for tax and estate planning purposes. Our fully approved Guernsey based QNUPS, the Alpha Star, complements the Maltese and Gibraltar QROPS options we have in place to and provide the complete retirement and estate planning solution for expatriates or those planning to exit the UK within a twelve month timeframe.

For those remaining within the UK tax regime we offer practical pension advice on all types of domestic pension plans such as SIPPS, SSAS and Personal Pensions including the choice of supplier, contribution levels and of course a strategy for managing the underlying assets within the fund. Consolidation of different pension arrangements held with a variety of providers and then expertly managed on a cost effective trading platform is often a key way of starting an effective retirement strategy.

Our cross border expertise means that when it comes to retirement planning we provide a truly seamless approach no matter what type of pension vehicle you currently have or which tax regime you fall under.

Key Benefits


For full information about QROPS please visit our website

To speak directly to a pension adviser or for further information Tel: +350 200 50982 or email