UK Pensions transfer to a QROPS in India & other OFF Shore Jurisdictions

 About QROPS :

For those resident in India who have pension schemes in the UK or for those planning on becoming a resident of India, there are significant tax advantages to transferring those schemes to a Qualifying Recognised Overseas Pension Scheme(QROPS).

In April 2006 it was announced by parliament that people with UK pensions who are, or will become non resident in the UK can move their pensions to a QROPS with the approval of HMRC. A QROPS is recognized by HMRC if it meets the following Criteria :

Ø  Is regulated as a pension scheme in the country in which it was established

Ø  Must be recognized for tax purposes in the country that the QROPS is established

Ø  The current approved list from HMRC can be found at www.hmrc.gov.in

Ø  During the first ten tax years of your emigration the QROPS’s provider is required to report back to HMRC on any withdrawls or capital sums taken from the pensions

		QROPS V/S UK PENSIONS
Questions		UK Scheme		QROPS
Lumpsum available		25%		upto 30%
Is my pension taxed in the UK ?		Yes		No UK Income tax due
When can I start to take benefits ?		55		55
Are the funds available in Local Currency ?		No only available in Sterling		Available in all currencies
What can I invest in ?		Limited investment options		Wide range of Options,
				excluding resedentail property
Can I pass on my scheme when I die ?		Not Usually		Yes, you can nominate Benefi
				ciaries to receive all of your
				residual fund.
Is the fund taxed on death ?		Funds that are passed on will		No UK tax to pay
		be subject to tax upto 55%

Next Steps :

Step 1 : Request for personalized recommendation report

Step 2: With your ‘Letter of Authority’ we will request for details from UK Pension providers, including current value

Step 2: Cost/benefit report, tax & jurisdiction report sent to client for review.

Step 4: Application & other related forms sent to clients & returned either by post or client adviser in the Client resident country can assist with application.

Step 5: We will send application to QROPS provider in relevant jurisdiction (for example, India) & send discharge papers to UK pension providers.

Your pension now based outside UK (India/OFF Shore),with greater flexibility, greater investment choice and lower tax

Who am I?

Let me introduce myself. I am Ravi kumar. I have been working as a Financial Consultant for more than 5 years. I have been instrumental in transferring UK pensions & Setting Up of QROPS for over 60 doctors & other professionals who have relocated from UK to India & other OFF Shore Jurisdictions. I have had Set up QROPS both in India & other OFF Shore Jurisdictions like Gibraltar, Malta etc as per the requirement of the clients. I promise to offer quality service & my service covers existing Pensions review, Free QROPS Consultations & Guide, Transfer Recommendation Report and much more.

Please contact me for an informal chat about the transfer scheme with my following Contact details.

Mr Ravi Kumar. Financial Consultant.  Exide Life Insurance Co Ltd

28, 6^th Floor, Centenary Building,  Adjacent to Raheja Towers, M.G Road, Bangalore-560 001.       

Cell: +91 9980927393,  +91 9844519872

Email:  ravi.sampige@gmail.com

UK Consultation office :

QROPS Advice

Global Administration office)

14-18 Heddon Street, Mayfair

London-W1B 4DA UK

Email: ravi@qrops-advice.net