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Understanding your international pension benefits can be difficult at the best of times and legislative changes can create opportunities as well as threats to your existing pensions.
A SIPP is a UK based private pension with added functionality, transparency and flexibility. As a UK based plan, it is subject to all the benefits and drawbacks of UK legislation that will continue to meet your needs whether you are a UK resident or live overseas.
A QROPs is an international pension plan recognised by HMRC and authorised to accept transfers of pension funds from UK plans, it only needs to report to HMRC for its first 10 years nor is it subject to continuing UK pensions legislation so it can adapt to your changing circumstances and tax regimes.
We recognise the dangers of generic advice and your future is personal and individual to you, it’s not one size fits all and there will be reasons why one option will be more suitable for you and we can explain in detail why, and the implications of both in your specific situation.
Download our SIPPS and QROPS guide to learn more.
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A Qualifying Recognised Overseas Pension is an international pension plan recognised by the HMRC. While it is recognised and authorised to accept transfers of pension funds from UK plans, it only needs to report to the HMRC for its first 10 years and it is not subject to continuing UK pensions legislation. It can adapt to your changing circumstances and can also benefit from local taxation.
Feel free to ask a question below or download your free guide here.