A-Day (6 April 2006) produced some radical changes in respect of the rules governing transfers from ...
A-Day (6 April 2006) produced some radical changes in respect of the rules governing transfers from UK-registered pension schemes to offshore pension schemes. Individuals wishing to migrate from the UK are now able to transfer their UK pension funds to an overseas pension scheme, provided it is a 'qualifying recognised overseas pension scheme' (QROPS) and it is registered with Her Majesty's Revenue & Customs (HMRC). The scheme rules of the QROPS must be broadly equivalent in terms of treatment to a UK-registered pension scheme, and the QROPS trustee must provide HMRC with information on c...
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