QROPS helping Expats

A growing number of British expats are transferring their UK pensions overseas through QROPS schemes, according to leading wealth management specialists.
Richard Way, Editor at The Overseas Guides Company said: "A reason for this shift is a growing public perception that pension pots in the UK increasingly are becoming easy targets for stealthy - and not-so-stealthy - government raids, so there are fewer incentives to keep retirement funds in the UK.

"As well as QROPS, expats can in some circumstances benefit from SIPPS, which also offer tax and flexibility benefits compared with other types of pension or annuities.

"Anyone retiring abroad should note the financial landscape has changed in recent years and what once seemed the done thing as regards pensions might not be the best option for them now. Speaking to a financial advisor that specialises in helping expats before leaving the UK could result in a much more comfortable retirement than initially expected."