De Vere Group: Spain pain leading to QROPS boom

The statement follows the the group's results for the first half of the year, released last week, which showed an increase in QROPS take up of 26% on the previous six months. QROPS is an overseas pension scheme available to expatriates that meets requirements set by HM Revenue & Customs (HMRC). A QROPS can receive the transfer of UK pension benefits without incurring an unauthorised payment and scheme sanction charge. In the latest chapter in the eurozone crisis, Spain's borrowing costs have risen to a new euro-era high of 7.5%, fuelling speculation that the country will need a ful...