Is QROPS the right choice for you?
After all those years of working away and putting as much as you can into your pension fund, you'll want to know that it's totally secure and will be more than capable of supporting you in your retirement, especially if you're thinking of moving abroad. Qualifying Recognised Overseas Pensions Schemes, better known as QROPS, are the ideal choice for investors in the know; they provide a perfect combination of investment freedom with a range of tax breaks. With fewer restrictions than a standard UK based pension, you decide where your money will be invested and you'll even get all income in a currency you can spend locally.
A legal route to paying less tax
QROPS is not a quick fix investment, however; its long-term nature means that you'll have to plan well ahead. The scheme provider is based in a different country and as such is subject to different tax laws, meaning that after ten years of you not being a UK resident, your money will no longer be touchable by HM Revenue and Customs. You'll be paying out less tax than you would if you'd remained in the UK, though you will still have to follow any regulations laid out by your new home country.
Any investments you make, no matter the type, should always be subject to you getting pensions advice from an independent financial adviser. A major part of their job is to keep abreast of all developments and new products that are being made available to investors, and their independent status means that they aren't stuck with the limited range of schemes run by one company. The best idea for anyone thinking of investing in a scheme is to get QROPS advice from a range of specialists and see who you would prefer to deal with.
Get as much information as you can
Don't be afraid to ask around for recommendations and when you've finally chosen someone to work with, be sure to ask plenty of questions to ensure that you understand exactly what is required from you. A professional adviser will be more than happy to answer whatever queries you may have and can set your mind at rest with straightforward explanations of what will happen to your investment. With there being such a wide range of QROPS available, you're bound to find one that matches your plans for the future as long as you work together.
By making the right choices and paying heed to the advice of your selected professional, you know that your future is secure. Retiring to your dream place in the sun is within your grasp should you choose a QROPS. All you need do is speak to an independent adviser today and start the process of organising your future.
After all those years of working away and putting as much as you can into your pension fund, you'll want to know that it's totally secure and will be more than capable of supporting you in your retirement, especially if you're thinking of moving abroad. Qualifying Recognised Overseas Pensions Schemes, better known as QROPS, are the ideal choice for investors in the know; they provide a perfect combination of investment freedom with a range of tax breaks. With fewer restrictions than a standard UK based pension, you decide where your money will be invested and you'll even get all income in a currency you can spend locally.
A legal route to paying less tax
QROPS is not a quick fix investment, however; its long-term nature means that you'll have to plan well ahead. The scheme provider is based in a different country and as such is subject to different tax laws, meaning that after ten years of you not being a UK resident, your money will no longer be touchable by HM Revenue and Customs. You'll be paying out less tax than you would if you'd remained in the UK, though you will still have to follow any regulations laid out by your new home country.
Any investments you make, no matter the type, should always be subject to you getting pensions advice from an independent financial adviser. A major part of their job is to keep abreast of all developments and new products that are being made available to investors, and their independent status means that they aren't stuck with the limited range of schemes run by one company. The best idea for anyone thinking of investing in a scheme is to get QROPS advice from a range of specialists and see who you would prefer to deal with.
Get as much information as you can
Don't be afraid to ask around for recommendations and when you've finally chosen someone to work with, be sure to ask plenty of questions to ensure that you understand exactly what is required from you. A professional adviser will be more than happy to answer whatever queries you may have and can set your mind at rest with straightforward explanations of what will happen to your investment. With there being such a wide range of QROPS available, you're bound to find one that matches your plans for the future as long as you work together.
By making the right choices and paying heed to the advice of your selected professional, you know that your future is secure. Retiring to your dream place in the sun is within your grasp should you choose a QROPS. All you need do is speak to an independent adviser today and start the process of organising your future.
About the Author:
Think you're serious and want to know more about QROPS advice and Pension Advice? In that case, make sure you visit us
No comments:
Post a Comment