
ROPS - Recognised Overseas Pension Schemes
If you have worked in the UK and have now left, transferring your frozen UK Pension into an international personal pension may play a large part in securing and enhancing your wealth in retirement.
Since 2006, the HMRC has allowed for pensions that have been built up in the UK to be transferred out of the UK system into a more tax-efficient and tax appropriate scheme. Whether your pension is a company Defined Benefit Scheme (DB), company Defined Contribution Scheme (DC), or a personal pension, there may be significant benefits to exploring your options to see if this is a suitable option for you.
Benefits of transferring a UK Pension include:
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Protection from the Lifetime Allowance
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Choice of beneficiaries
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Inherited in Full
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Investment choice suitable to your personal risk profile
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Consolidation of multiple pensions
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Protection from pension deficit crisis
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Free from UK taxes
ROPS (formerly QROPS) are Recognised Overseas Pension Schemes, which are fully regulated by the HMRC, and is based, in a safe and transparent jurisdiction outside of the UK.
ROPS were created under EU Legislation so it is extremely likely that after Brexit these pension freedoms will be revoked, so it is worth looking into as soon as possible.
SIPPs (Self-Invested Personal Pension) are a type of UK government-approved personal pension scheme, which allows individuals to make their own investment decisions from the full range of investments approved by HM Revenue and Customs (HMRC).
More on QROPS/ROPS
More on SIPP/International SIPP

International Pension Transfers
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