Can I organise a transfer to a QROPS myself?

The process of arranging a transfer from a UK pension scheme to a QROPS can be complex and time-consuming with considerable scope for errors and delays.   The majority of QROPS providers will only allow pension transfers through their appointed intermediaries as they can take greater reliance in the new...Read More

How long will a transfer to a QROPS take?

This is the most difficult of QROPS questions to answer, as it is entirely depending on your ability to move quickly and your UK provider. Most transfers from UK pension schemes to QROPS take two to three months. However, transfers from some schemes, in particular public sector schemes, can take...Read More

What will happen to my QROPS fund following my death?

Most NZ QROPS will allow the remaining funds to be distributed at the discretion of the scheme trustees to your nominated beneficiaries. This is irrespective of whether benefits have been taken. Where this is not the case they will pass to your estate.   The effect of this approach is...Read More

How will any benefits or withdrawals be taxed?

Some QROPS jurisdictions do not require tax to be deducted at source from income or lump sums when taken – such as New Zealand. The tax treatment of any income or lump sum you receive will depend upon where you are tax resident at the time and in some cases...Read More

How and when can I take benefits from my QROPS?

There is no limit to the size of funds that may be accumulated within a QROPS.   There is considerable flexibility in the timing of taking benefits from a QROPS. Usually benefits may be taken between the ages of 55 and 75.

Will payments from a QROPS be reported to HMRC?

QROPS providers are not required to notify HRMC of any payments from transferred pensions unless the member is: Resident in the UK when the payment is made, or Although not resident in the UK at that time, has been resident in the UK earlier in the tax year in which...Read More