Each specific QROPS Pension Transfer varies. Different schemes have different charging structures and as a result they are only worthwhile provided that a certain threshold is reached.
- We have found that the minimum required for a basic QROPS Pension Transfer is around £25,000.
- Remember that you can combine more than one pension to reach this figure and you can top it up with other assets or funds.
- In general, where the amount is below this threshold it is not beneficial to transfer to a QROPS.
- Thus, whatever the value of your pension, it is worth contacting an advisor to discuss a QROPS Pension Transfer as there is usually a solution to be found.
