QROPS FAQ ‘s
Simply click on the relevant question for the answer. Providing you with quick and comprehensive answers to your QROPS questions:
When would a transfer into a QROPS be right for me?
Am I subject to UK tax on income I take from my QROPS
What are the costs of a transfer into a QROPS
What jurisdiction should I transfer my QROPS pension to
What types of pension can be transferred
Should I consider transfer if my pension exceeds the Lifetime Allowance
However this would not apply if transitional protection has effected.
In addition there is no Lifetime Allowance charge applicable to a QROPS and therefore avoidance of this charge could be a justifiable reason to transfer should your fund be close in value to the Lifetime Allowance ( which is to be reduced to £1,500,000 from April 2012).
Am I able to access a wide range of investments via my QROPS scheme
These investments can be worldwide and can be denominated in a range of currencies.
We would stress the importance of receiving advice from a fully qualified professional to ensure that appropriate advice is received.