The Qualifying Recognized Overseas Pension Scheme (QROPS) was introduced to offer current or potential expats the opportunity to transfer their UK private pension to an overseas arrangement. It is a highly attractive option worthy of serious consideration by all expatriates with a UK pension.
As long as it is recognized by HMRC and the tax authorities in the local jurisdiction, a retiring expat’s pension will be subject to more favourable tax treatment under the scheme. It will also have far greater flexibility with respect to draw down and investment choice. With all the QROPS currently available worldwide, making the correct selection is critical and requires professional advice from a qualified financial advisor. BlueStar AMG is ideal to provide such service in China, including Beijing, Shanghai and Shenzhen.
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Not all QROPS are created equally, which is why BlueStar AMG only deals with the best providers. The benefits achievable through our QROPS range include:
– No automatic UK taxation. This means avoiding up to 50% irrecoverable tax
– Flexibility to delay retirement indefinitely
– Flexibility with pension management, as opposed to being subjected to low yielding UK gilts which are denominated in – and are at the mercy of – pound sterling
– Large, tax free, lump sum payouts without pension busting
– Avoiding becoming a victim of the UK pension’s black hole problem which looms over nearly all company pension schemes