LONDON, June 17, 2011 /PRNewswire/ –Which Offshore, a free information resource for English speaking people living abroad, is encouraging British expatriates to consider QROPS when planning their retirement.
Which Offshore wants UK expats to be aware of a fantastic pension transfer that enables them to maximise the value of their pension- the QROPS (Qualifying Recognised Overseas Pension Scheme).
One of the most useful online resources for Brit expatriates no matter where they are located in the world, Which Offshore supplies news, views, information and advice for people thinking about becoming expatriates, or who have already done so.
The life of an expatriate is always busy, moving to a new country means sorting out new finances, helping family settle-in and keeping up to date with the latest relevant news.
Which Offshore has a huge section of informative articles covering the whole range of expat interest- global city guides, explanation of financial topics, daily news and features-style blog posts.
One of the most important aspects of an expat’s life is retirement planning. Sensible retirement planning is the only way you can ensure a comfortable retirement and financial security for yourself and your loved ones. UK pension holders who are retiring abroad have an excellent option in the shape of the QROPS.
Fully approved by HMRC, a QROPS transfer allows expats to move their existing UK pension into an offshore jurisdiction. A QROPS pension transfer also has many benefits for its holder:
Taxes: A QROPS enables the holder to gain considerable tax advantages. The main reason behind this is that the QROPS is not based in the UK. QROPS are traditionally based in countries that have low tax legislations, however the QROPS holder is not tied to this country, you can reside anywhere in the world (except the UK) and still keep the QROPS in its jurisdiction.
Currencies: With a QROPS you will have the option and the ability to utilise different currencies. With a QROPS you are not tied to sterling, and QROPS benefits are paid out in gross in the chosen currency of the policy holder.
Investing: QROPS allow the holder a great deal of flexibility with regards to investing in different financial products. As opposed to with a UK pension, you will have the choice of a wide range of commodities, stock markets and assets in which to invest the money you have spent a lifetime amassing. UK pension holders find that they are faced with considerable restrictions when it comes to investing their own money.
These are just a few examples of how a QROPS can be beneficial to UK expatriates. Find out more by visiting the Which Offshore Pensions and Retirement Planningsection.
