Investment Flexibility with a QROPS Transfer

  • One of the biggest benefits of a QROPS Pension Transfer is the investment flexibility and choice that it offers you! The better schemes offer greater flexibility and the degree of choice and flexibility depends upon the scheme you choose.
  • Some schemes will allow you to manage the assets with total freedom, while others have certain restrictions.
  • You may also appoint an investment adviser to make the decisions with you or for you, it all depends upon what you are looking for.
  • The best option would be to discuss the specific scheme with an investment adviser.

Questions on QROPS Flexibility

QROPS Pension Transfer

1)       Will I have to purchase an annuity if I transfer my UK pension into a QROPS?

  • No.
  • However, if your QROPS is correctly setup, you can purchase an annuity if you wish to. Remember that a good QROPS offers greater investment flexibility.

2)       What happens if I move around the world?

  • No matter where you move in the world, nor how often you may move, your QROPS plan stays in the neutral offshore jurisdiction that you have chosen.
  • This is another reason why the jurisdiction of your QROPS Pension Transfer is important.

3)       Can I do a QROPS Pension Transfer myself?

  • No. Only appointed intermediaries are allowed to do pension transfers to QROPS providers. Contact us and we’ll put you in touch with an accredited adviser in your region.

4)       If I transfer my UK pension to a QROPS, can I access my fund as a 100% lumpsum?

  • No!
  • Many advisers recently advocated schemes that promise 100% access after 5 years, which is incorrect. You need to be extremely careful of these as the HMRC are clamping down on these loopholes and you could face a tax penalty.
  • Thus, a QROPS Pension Transfer offers you great flexibility but will not allow you to access your pension as a 100% lumpsum.