Compliance Processes for QROPS

Qualifying Recognised Overseas Pension Schemes (QROPS) have created a whole new realm of compliance processes for financial advisers and QROPS advisers who advise on and provide advice on pensions. Montfort International (Offshore QROPS parent company) are arguably the birthplace of QROPS having designed the very first overseas pension transfer procedure back in the 1990’s to Australia and New Zealand.

 

Gone are the days when you could simply complete a conventional Transfer Value Analysis. “This is a whole new ball game”, according to Geraint Davies, Managing Director of Montfort International plc. “Those considering a QROPS, who have Australian or New Zealand connections, must choose their advisors carefully. Local conditions, tax, retirement ages must be modeled. So advice processes and advice models have not only to be revamped but must demonstrate for example, visa, social security as well as taxation implications”.  

 

How many so called QROPS advisers are geared up for such comparative processes? 

 

If you are planning on emigrating or have already emigrated and have pension benefits remaining in the UK you may well be able to benefit from the advantages of a suitable QROPS arrangement in a suitable jurisdiction. For more information on how a QROPS may benefit you, please call the QROPS adviser team at Offshore QROPS on 01483 202072.