Lisa Webster looks at QROPS in light of the lifetime allowance’s abolition…
Qualifying registered overseas pension schemes (QROPS) have had a chequered history. Rules intended to allow those genuinely retiring overseas to take their pensions with them have struggled at times to keep up with the constant meddling of pension policy by various UK governments. This has led to boom periods when loopholes emerged, and constant readjustments to close the door (albeit after some horses have bolted). Once upon a time, it was an attractive option for the wealthy to move funds overseas to avoid the lifetime allowance (LTA) charge. When funds were approaching whatever th...
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