QROPS

The list below is a collection of articles that refer to, mention or discuss QROPS.

Pension Freedom Age to Rise Two Years

Pension freedom in block letters

The age retirement savers can access their pension cash is going up by two years, a minister has warned. From 2028, the age limit will rise from 55 to 57 years old as the law changes ‘in due course’. Raising the pension freedom age was first signalled in 2014, but no legislation has been forthcoming, … Read more

Super Tax Refunds On The Way For 2.6m Aussie Savers

Tax Refund

Millions of Australian superannuation savers are set to pick up a surprise cash payment from the taxman. Around 2.6 million saving for retirement in a superannuation scheme qualify for the tax windfall. Savers with account balances of less than AUS$200 will see the refund in their bank accounts. But savers with between $200 and $6,000 … Read more

Categories Tax

Is Consolidating Pensions Worth The Bother?

pension

British workers move jobs an average 11 times during their working lives and often leave a small pension pot behind. The chances are these are likely to be defined contribution pensions that come without any guarantees and fund sizes depend on investment performance. This is also likely to mean they come at a price – … Read more

The £50,000 Final Salary Tax Trap For High Earners

pension

If you are on course to pick up a retirement income of £50,000 a year or more from a final salary pension then you may face the prospect of seeing a slice disappear because of daunting taxes. That’s because a legal cap on pension savings means a fund of more than £1 million means pension … Read more

£5 Billion Pension Raw Deal For Women In Divorce

Retirement is often a financial mess for women who save less and are short-changed in divorce deals. Fewer women have retirement savings – half against six out of 10 men, while a quarter of women confess they save nothing. Three out of four women do not include a spouse’s pension in a financial settlement of … Read more

Six Big Pension Cash Questions You Need To Ask

saving

Retirement savers have had more choice about how they spend the money in their pensions for more than two years, but not everyone understands how pension freedoms work. Often the problem is making financial decisions in the wrong order, which can lead to costly risks and potentially paying too much tax. Rather than taking the … Read more

Where In The World Can You Have A QROPS?

Freedom of going where you want, when you want is one of the main reasons for making the expat lifestyle choice for many. The notion is romantic, because in many cases, finances and taxes tie people to living in one place. Banks don’t like cross-border dealings, so credit cards, bank accounts and mortgages are limited … Read more

Time Running Out For British Steel Pension Decision

If you have cash in the British Steel pension scheme you need to brace yourself for some tricky financial decisions about your retirement. You do not have to do anything, but will likely see your pension picked up by the safety net of the Pension Protection Fund. The good news is the PPF will safeguard … Read more

Year-End Tax Planning Guide For UK Expats

The end of the financial year is fast approaching for UK taxpayers – including expats who may live overseas but are still tax residents. It’s important to make the best of any available tax breaks that allow taxpayers to keep their money in savings or investments rather than handing too much to the tax man. … Read more

Categories Tax

QROPS Transfers – Numbers Down But Values Go Up

The number of British expats switching their retirement savings to offshore pension schemes is falling – but the average value of a transfer is still rising, according to the latest official figures. Fewer expats are transferring their UK pension savings to offshore QROPS shown by a drop of 48% from 9,700 transfers in the 2016-2017 … Read more