Many India based UK citizens have accumulated pensions with UK pensioners like NHS, Aviva, Standard Life etc., & finally got their UK pensions transferred to Malta based QROPS trustees like, Sovereign Group, STM Malta, The Momentum Pensions etc, .
Malta is an English-speaking jurisdiction with excellent regulation and a flexible approach to QROPS. As a full EU and Commonwealth member, the island has a long history of economic and financial security.
Now, India based overseas citizens, especially India based UK citizens who have transferred their UK pensions to Malta QROPS trustees can cross another milestone by re-transferring their pensions from Malta QROPS Trustees to India based QROPS schemes.
India has witnessed as the fastest growing economy in the world. India’s gross domestic product (GDP) growth rate for the January-March 2016 quarter came in at 7.9%. This rate of growth is far above that of comparable economies in any part of the world. The Philippines ranks a distant second, with China third in the GDP growth league tables for the January-March 2016quarter.
4 Reasons why you should look at QROPS!
> Receive Pensions in Indian Rupee
> Withdraw upto 30% tax free lumpsum at the time of vesting.
> Benefit from better appreciation opportunity presented by Indian Market
> Leave Behind the unused pensions/Funds for your beneficiary without any tax liability.
Tax Advantages and Flexibility
> Tax Free Commutation up to 1/3rd of your fund value*.
> Further contributions enjoy tax benefits u/sec 80 C*.
India offers you better earning opportunity than any other economy in the world.
Expected Annual Returns on your India based pension fund under QROPS are in the range of above 9%
1 United Kingdom 1.60%*
2 United States 1.05%
3 Australia 4.20%
4 India 9.04%**
5 South Africa 5.89%
6 China 3.30%
Guaranteed Returns
• Guaranteed rate of return
• Guaranteed fund protection so that you are
. guaranteed of a peaceful retired life
Flexibility
• Save more through Top-Up Premiums.
• Decide premium payment duration with an
option to alter it.
• Decide premium frequency
. Decide age of retirement
Malta based Sovereign QROPS have introduced new transfer out fees in light of these circumstances. They are as follows
Centaurus Retirement Benefit Scheme
Within one year of establishment €3,000
Within two years of establishment €2,000
Within three years of establishment, and thereafter €1,000
Centaurus Lite Scheme
Within one year of establishment € 1,500
Within two years of establishment € 1,000
Within three years of establishment, and thereafter € 500
To know in detail about the benefits or amount of pensionable service, the transfer value payment of Malta pension pot will buy in the receiving pension scheme in India & also to know more about the options, pension schemes available in India to get your UK based Malta pensions transferred, I wish to schedule a free, no obligation telephone consultation to discuss ways I can help yourself and any of your colleagues who has accumulated pension fund in UK & the same is invested in Malta pension scheme. I can also be reached with the following contact details.
Mr Ravi Kumar. Financial Consultant (Code: 60272381), Exide Life Insurance Co Ltd. Branch- B 21, # 28, 6th floor, Centenary building, M.G Road, Bangalore-560 001, Karnataka, India.
Cell: +919844519872, +919980927393
Email: ravi.sampige@gmail.com
