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Am I Eligible For A QROPS?

Primary Considerations

• Do you have a UK pension?
• Is it worth at least £100,000
• Are you living outside the United Kingdom?
• Are you planning on living outside the United Kingdom at least for the next five years?
• Will you be consolidating several UK Pensions or a single pension?

If you answered yes to three or more of these questions, please feel free to Apply For A QROPS.

The Overseas Scheme is specifically designed to enable non-UK resident individuals, who have accrued pension assets in the UK, to transfer these out once they are deemed no longer a resident of the UK. Provided that a UK Registered Pension Scheme and an Overseas Scheme have the appropriate transfer out and transfer in powers respectively, individuals who leave the UK and become a member of an Overseas Scheme, are able to request a transfer of their UK pension assets.

This Overseas Scheme is open to all nationalities. If you are from Canada, Australia, New Zealand or any other nationality who worked in the UK as a British Expatriate, you may apply for an Overseas Scheme. This scheme may be particularly beneficial for those who currently reside in Switzerland, Jersey, Guernsey, Cayman Islands, Bahamas, British Virgin Islands, Bermuda and the Isle of Man.

Related Links

HM Revenue & Customs - www.hmrc.gov.uk/pensionschemes
QROPS - www.hmrc.gov.uk/pensionschemes/qrops.pdf