For UK Expats or anyone considering living on foreign shores, leaving Pensions in the UK has been a problem both for control and how to take benefits in a tax efficient way. This has now changed. Real advantages are now available with a little planning and advice which gives Pensions the flexibility we would all like.
Don’t miss out on this valuable planning tool.
Any questions about Offshore Personal Pensions please call us now on:
+44 (0)1884 860061
for a
free informal discussion.
Or email
gary.barlow@med-ex.co.uk with your query or ask us to call you
back.
HM Revenue and Customs now allows you to move UK Personal Pensions offshore allowing you to benefit from International Pension rules. Transfers are done via HM Revenue and Customs approved schemes called "QROPS" or "Qualified Recognized Overseas Pensions Scheme". A transfer can take place to an approved scheme even before you become a non UK resident so long as you have an intention to do so at some point in the future.
QROPS: Potential benefits of transferring UK pension rights offshore:
• No UK restrictions on the level of income taken at retirement after five full UK tax years. A principle of providing a lifetime income still applies.
• No requirement to buy an annuity at any age.
• On death pass the fund intact to spouse and heirs’ inheritance tax free
These are just some of the unique benefits plus the
security and protection of dealing with a UK based and authorised FSA
Regulated Independent Financial Advisory firm.
These pages
are specifically designed to provide information for UK Expatriates
and individuals considering becoming non-resident from the UK.
Pension and investment values and income arising from them can
fall as well as rise.
This information does not constitute
advice and we cannot accept responsibility for its interpretation or
any future changes to law. Any advice and recommendations will be
given in writing.
Med-Ex Financial Advisory Services is
authorised and regulated by The UK Financial Services Authority,
number 218915. Visit the FSA’s website www.fsa.gov.uk/register/