Tag Archives: uk pension

QROPS Pension Transfers and the UK Budget March 2014

If you have a UK pension but no longer live in the UK you can now transfer your pension to a QROPS. A QROPS transfer can give you many benefits.

ZURICH, Switzerland (June 1, 2014) — If you have a UK pension but no longer live in the UK you can now transfer your pension to a QROPS. A QROPS transfer can give you many benefits. However if you are in a Final Salary scheme you need to act now! Or you may be sorry, as time is running out!

A QROPS transfer can give you the following benefits:

•This can reduce the tax you pay.
•Allow access to your pension from age 50 rather than 55.
•Allow you to take a larger Cash Lump Sum.
•Allow you to take a larger pension.
•On death no 55% tax. (This is the rate of death tax on a UK pension)
•You can take your income in your local currency rather than in sterling.
•On death all your pension fund can go to your loved ones.

In the UK budget March 2014 the Government’s announcement that it intends to stop transfers from Final Salary pension schemes, also known as Defined Benefit pension schemes. This means the option to transfer to a QROPS is to be removed. This change may be in pace as early as 2015.

If you are in a Final Salary scheme you need to act now! Or you may be sorry, as time is running out!

Moving your UK pension arrangements to a QROPS if suitable given your own particular circumstances, can only improve your position.

Most importantly, once moved to a QROPS you have control over your money. If left in your UK pension arrangement it is highly likely that additional constraints will be put in place which will adversely affect you.

If you have a UK pension and have left the UK, or are considering a QROPS transfer, contact Waterstone Investment Associates.

For further details, contact: information@qropsusa.net or visit their website: http://www.waterstone-investment-associates.com.

Media Contact:
K Jones
Waterstone Investment Associates Inc.
Swiss Post Box: 100988
Zürcherstrasse 161
CH – 8010 Zürich
+44 (0)2921251957
kjones@waterstone-qrops.com
http://www.waterstone-investment-associates.com

UK Budget March 2014 and QROPS for Final Salary Pensions

If you are in a Final Salary scheme you need to act now! Or you may be sorry, as time is running out!

ZURICH, Switzerland (March 26, 2014) — Given this budget is in the run up to the next election in 2015. As normal it is a sweetener, and lots of smoke and mirrors.

After the smoke has cleared however, if you are in a Final Salary, also known as a Defined Benefit pension scheme. Take note the option to transfer to a QROPS is to be removed.

Combine this with the Government’s announcement that it intends to abolish tax allowances for non UK residents. So pension benefits you take in the UK would be taxed up to the full rate of 50%, on the whole amount. The future looks bleak if you are in a Final Salary scheme but no longer live in the UK.

The pension reforms that were announced are likely to encourage a lot more people to look at QROPS as a very attractive alternative to leaving their pensions in the UK.

Moving your UK pension arrangements to a QROPS if suitable given your own particular circumstances, can only improve your position.

Most importantly, once moved to a QROPS you have control over your money. If left in your UK pension arrangement it is highly likely that additional constraints will be put in place which will adversely affect you.

If you have a UK pension and have left the UK, or are considering a QROPS transfer, contact Waterstone Investment Associates.

For further details contact, Email: information@qropsusa.net, or visit their website: http://www.waterstone-investment-associates.com.

Media Contact:
John M Pye
Waterstone Investment Associates Inc.
Swiss Post Box: 100988
Zürcherstrasse 161
CH – 8010 Zürich
+44 (0)2921251957
jmpye@waterstone-qrops.com
http://www.waterstone-investment-associates.com