Who Qualifies for a QROPS Transfer?

  1. What age do I need to be to apply for a QROPS Pension Transfer?

    • Anyone between the ages of 18 and 75 may apply for a QROPS Pension Transfer.
  2. I currently live in the UK, can I still apply?

    • Yes, provided that you have a clear intention to become a non-UK tax resident within the next 12 months.
  3. Can I transfer my UK pension if I am a US citizen?

    • Yes, if a QROPS outside of the US is used in a tax efficient jurisdiction.
    • However, if you are wanting to use a fund in the US, there are regulatory limitations preventing US based IRA’s from receiving funds from a UK registered pension scheme.
  4. What nationalities can apply for a QROPS Pension Transfer?

    • Any nationality may apply for a QROPS Pension Transfer, however some of the schemes are not available to US nationals.
  5. Can I transfer to a QROPS once I have taken an annuity?

    • No.
  6. Can I transfer to a QROPS once I have taken a payment on a final salary scheme?

    • No.
  7. Can I transfer a state pension?

    • No. Unfortunately, you cannot transfer a UK state pension into a QROPS.
  8. When should I not transfer my frozen pension?

    • In most pension situations, provided you are a non-UK resident and intend to remain so for five years or more, the benefits can be immense if you transfer your pension.
    • However, some older pension’s plans have annuities set with higher interest rates and it may not be beneficial to transfer these.
    • See if you qualify in the Who Qualifies? section.