Is time running out for today’s pension opportunities
With the Brexit clock ticking, there are just a few months of expatriate living in Europe. If you have chosen to withdraw your pension options - before the rules potentially change.
The option to transfer overseas Many expatriates have chosen to transfer their pensions to a Qualifying Recognized Overseas Pension Scheme (QROPS). Since QROPS were introduced in 2006, £ 10.77 billion had been sent through 123,100 transfers up to April 2018 - an average of £ 898 million per year.
Transferring to a QROPS can consolidate several pensions under one tax-efficient roof to your country of residence. LTA, enabling unlimited growth without attracting 55% or 25% LTA tax penalties.