Those nice guys at Tailor Made Pensions have written an excellent sequence of articles, that definitively detail the facts and myths around the advantages – or not – of QROPS (Qualifying Recognised Overseas Pension Schemes).
Obviously there is a massive amount of marketing being thrust at expatriates globally, from both QROPS companies offering these schemes and financial advisers, particularly through their websites.
“10 Reasons to use a QROPS” is a marketing line used by many within the industry, but the authors here have tackled each of these reasons and examined them in detail to determine, just what are the facts and the myths behind such claims on behalf of QROPS?
Here for your convenience is the entire sequence of 10 articles, all together.
1. Higher tax free lump sum
2. 45% UK pension tax
3. Frozen pension plan options
4. Take control of your pension
5. UK pension deficits – your pension is at risk
6. Consolidate your UK pensions
7. QROPS increased flexibility
8. Leaving UK pension legislation behind
9. QROPS do not force you to buy an annuity
10. Increased investment flexibility