Paying less tax is just one reason to look at QROPS pensions

The problem with QROPS pensions is the aim is to provide money to live off during retirement but any conversation about a QROPS always ends up in a discussion about tax.

More people consider a QROPS transfer for tax reasons than for achieving financial objectives for retirement.

That’s because many of the investors who plan to retire abroad are often high-net-worth individuals with a significant income who can afford to tie up money in a QROPS scheme.

Paying less tax is their primary concern and because legislators have written the QROPS pension rules in a way that is open to interpretation, accountants, financiers and tax consultants are continually pushing the envelope to try and get more for their clients.

Inevitably, getting more means more cash by paying less tax.

Less tax is paid on drawing benefits from a QROPS pension and no annuity or alternative secured pension is needed, which allows the remaining funds left on the pension holder’s death to pass to family and loved ones without inheritance tax.

Putting assets in to a UK pension scheme and transferring them in to a QROPS is also a hedge against capital gains tax and for many, a way of switching wealth from the UK without triggering tax.

The fact that QROPS pensions are tools for transferring assets overseas to a more tax friendly environment is often the primary reason for a transfer, but the underlying principle that led to the introduction of a QROPS was to ease retirement planning.

QROPS do this by allowing more flexible options across the world’s major currencies.

If you want to know about the tax and retirement benefits of a QROPS scheme, then QROPS Adviser has the knowledge and experience to manage your QROPS transfer wherever you plan to live.

QROPS Adviser is a reputable, long-established offshore financial firm that operates under a regime of strict regulation.  Our advisers understand the nuts and bolts of QROPS pension transfers and how to structure your financial affairs to help you pay less tax.

At the same time, they will also make sure your retirement planning goals are in focus and on track.

QROPS Adviser will make sure you have the best advice available to select the right QROPS scheme that suits your need from the 1,500 or so that are available world wide.