Rachael Griffin, head of tax and financial planning at Skandia International, discusses the advantages of qualifying recognised overseas pension schemes.
Whilst the technical detail behind qualifying recognised overseas pension schemes (QROPS) may appear to be complicated, the benefits for a customer are clear if we consider who a typical QROPS customer might be. They will generally fall into one of three categories: a UK expatriate, someone with definite plans to leave the UK, or a temporary UK resident. All will have existing UK pension funds and they should not expect to return to the UK, although if this does happen then a client should seek financial advice before returning to understand the consequences. There are a ...
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