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Pension and tax rules can change and tax relief depends on your personal circumstances. This information is not personal advice. Investments go down in value as well as up so you could get back less than you invest. If you’re not sure which investments are right for you, we can put you in touch with one of our financial advisers.


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A QROPS (Qualifying Recognised Overseas Pension Scheme) is a type of pension scheme available for individuals who have accrued pension savings in the UK and are either planning to move abroad or are already living outside the UK. It allows these individuals to transfer their UK pension funds into an overseas pension scheme that meets certain qualifying criteria set by HM Revenue & Customs (HMRC), the UK tax authority.

What is a QROPS ?

Transferring Pension:


When someone leaves the UK but has a UK pension, they can transfer it to a QROPS. This transfer is beneficial for individuals who want their pension funds managed in the country they reside in or want to consolidate multiple pensions into one scheme.

  1. Tax Advantages: QROPS can offer tax advantages to non-UK residents. Depending on the country where the QROPS is based, it may offer favorable tax treatment on pension income, lump sums, or even inheritance tax benefits. However, it's crucial to consider both the UK and local tax regulations as they apply to QROPS.

  2. Investment Flexibility: QROPS typically provide greater investment flexibility compared to some UK pension schemes. They may allow a wider range of investments, enabling the individual to have more control over where their pension funds are invested.

Benefits for Expatriates:

  • Currency Control: QROPS can be denominated in different currencies, which can be advantageous for those living outside the UK. It helps to manage currency risks and avoid fluctuations that could affect the pension value.

  • Local Regulations: QROPS can adhere to local rules and regulations, which can simplify the management of the pension fund in a foreign country.

  • Estate Planning: QROPS can offer more flexibility in terms of passing on pension benefits to beneficiaries upon death. Some QROPS may have inheritance advantages, allowing the remaining pension to be passed on to heirs with reduced tax implications compared to UK pension schemes.


  • Regulatory Changes: Rules regarding QROPS can change, impacting their tax treatment. It's crucial to stay updated with both UK and local regulations to understand how these changes might affect the pension.

  • Professional Advice: Transferring a pension into a QROPS is a significant financial decision. Seeking advice from a qualified financial advisor or pension specialist who understands both UK pension regulations and the laws of the country where the expatriate resides is highly recommended.

  • Fees and Charges: Different QROPS providers may have varying fee structures and charges. It's essential to understand these costs before transferring the pension.

Overall, QROPS can be a useful tool for expatriates to manage and potentially benefit from their UK pension savings while living abroad. However, it's crucial to consider individual circumstances, tax implications, and seek professional advice before making any decisions about transferring pensions into a QROPS.

If you’ve moved jobs or changed address, you might have lost pension pots waiting to be found. We can help you track yours down.

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Locate Your Pension

It’s important that you’re in control of your pension savings - particularly as you approach retirement. Depending on your needs and the kind of pension you have, it could make sense to consolidate and transfer to one easy-to-manage account.

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Pension Consolidation

Pension Wise

Pension Wise is a free, impartial government service for anyone aged 50 or over, with a UK based personal or workplace pension.

It can help you understand what type of pension you have, how you can access your savings and the potential tax implications of each option. But it isn’t financial advice.

Ask our Advice

Our team are ready to answer your questions.

Call us on 0034 951 122

Opening hours:

Monday - Friday:  9am - 6pm (CET)
Saturday: 9.30am - 12.30pm (CET)


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Retirement Planning

If you are unsure and need help making decisions, we can assist you to:

  • Make sure your investments align with your goals

  • Plan your personal budget and retirement income strategy

  • Give pension advice, including when and how to take them

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