Ascentric launches first QROPS on UK wrap

The MCT Malta Private Retirement Scheme is principally aimed at customers with UK pension rights who have not been resident in the UK for five tax years or are planning to permanently relocate out of the country. Based in EU-state Malta, the pension scheme has been approved by the Malta Financial Services Authority as well as HMRC. By transferring existing UK pension benefits into the scheme, members can legitimately move their pension arrangements from the UK tax regime. After five years non-residence, any tax is payable in the country of residence and certain UK charges on pension t...