This is the Wikipedia definition of a QROPS. A Qualifying Recognised Overseas Pension Scheme, or QROPS, is an overseas pension scheme that meets certain requirements set by HM Revenue and Customs (HMRC). A QROPS can receive the transfer of UK Pension Benefits without incurring an unauthorised payment and scheme sanction charge. The QROPS program was […]
Tag Archives: Qualifying Recognized Overseas Pension Scheme
Guernsey QROPS: Only ‘Guernsey Resident-Only’ Schemes To Be Approved In Future
A Guernsey government statement this morning has revealed that HMRC has informed them that in future, Guernsey pension providers will only be permitted to accept transfers of the UK pensions belonging to Guernsey residents. This has caused much confusion among Guernsey based QROPS providers and will lead to much discussion in the coming days. What […]
Boal & Co.Temporarily De-list Their Trinity QROPS
Isle of Man based Boal & Co. are to temporarily de-list their Trinity QROPS (Qualifying Recognized Overseas Pension Scheme) as a result of changes in QROPS legislation which were finally published last week. The company said it has had to take this decision as the Isle of Man government has not yet put in place […]
QROPS Update – Isle of Man Announcement
The Isle of Man’s pension industry has finally broken its silence on the impending change to QROPS legislation, making only their second official comment since the proposed changes were announced in December last year. In a statement that doesn’t actually say much they announce that they have drawn up “a number of options” to deal […]
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