Pensions

If you are considering enjoying your retirement outside of the UK, then a QROPS (Qualifying Recognised Overseas Pension Scheme ) pension transfer has a number of advantages. None more so than to avoid the pitfalls of UK pension and Tax regulations.

Recognised by HMRC most expat pensions can be transferred into QROPS as long as the scheme is registered with HMRC and compliant with the standards of the country it’s domiciled in. A QROPS pension gives you greater control of your pension when you retire and can provide valuable benefits to your loved ones.

These Benefits Include:

  • Trustees are not required to report to the HMRC
  • There is no limit to contributions
  • Income can be in the currency of your choice
  • Immediate exemption from UK taxes should a death occur
  • A broad range of assets can be included
  • You do not need to have any earned income from employment in order to make a contribution
  • The pension fund can be used by the member during his/her lifetime and any balance can be passed on to their chosen heirs upon the member’s death.

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Pensions

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What is QNUPS?

QNUPS (Qualifying Non-UK Pension Scheme) is an overseas pension scheme in which cash and assets that are non-UK tax relieved can be contributed.

A QNUPS needs to satisfy similar conditions as a QROPS and broadly enjoys the same benefits, but with some added advantages:

Who is QNUPS suitable for:

Individuals wanting to save for their retirement.
High net worth individuals who wish to top up their pensions tax efficiently.
Anyone concerned about restrictions on UK Lifetime or Annual allowances.
Individuals who would like to place residential “Buy to Lets” in their retirement plan.
Foreign nationals with a potential UK IHT exposure.
Expats who retain their UK domicile status with potential UK IHT exposure

Added Advantages:

  • Trustees are not required to report to the HMRC
  • There is no limit to contributions
  • Income can be in the currency of your choice
  • Immediate exemption from UK taxes should a death occur
  • A broad range of assets can be included
  • You do not need to have any earned income from employment in order to make a contribution
  • The pension fund can be used by the member during his/her lifetime and any balance can be passed on to their chosen heirs upon the member’s death.

Contact Us

Please contact us by phone on 00(34) 954059007
or email: pm@lwm-int.com

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