We’ve got the numbers!
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Is there a better time for QROPS? By Steve Iball – DeVere Spain
There is still a lot of confusion regarding QROPS, what is it, how does it work, and most importantly is it “right for me”? So in this article we’ll cover some of the basics and lead on to why, in my professional opinion, there has been no better time to explore the QROPS option.
Female Focus
by Steve Iball deVere Spain
QROPS (Qualifying Recognised Overseas Pension Scheme) is aimed at UK Expats who have emigrated permanently – Spain included! If you have built up a UK pension fund, there are many benefits based around taxation, portability and early access to your pension. Each person is unique, so is their retirement advice.
Two reasons why it is the right time to focus on pensions left in the UK
Number one is very low interest rates (Base Rate in the UK) which means simply that on Final Salary Schemes the cash transfer values are at a very high level as most Final Schemes have little direct share investment and have to use interest rates and bonds.
The second reason comes down to tax. The government has announced in this year’s budget to tax QROPS pension transfers by 25%. Currently there are exceptions because we are still in the EEA because of the EU membership, but this could change rapidly as Brexit talks get underway, so it would simply mean the UK Government could apply the exit tax in line with the rest of the world.
Put these two factors alone together, and you have a compelling argument to take advice as soon as possible. That’s where I come in. With the backing of deVere – a highly regulated and respected company – we can find out the facts for you and present them in an understandable way in order to take you through your options. You’ll have all the information you need to make a decision on what’s best for you. All you need do, is pick up the phone and make an appointment. I’ll come to you at your convenience and at no charge! What are you waiting for?
Call me on 610 822 484 or email me at
steve.iball@deverespain.es. I look forward to hearing from you.
See article on page 5
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