QROPS

QUALIFYING RECOGNISED OVERSEAS PENSION SCHEME

MAKING THE MOST OF YOUR PENSION

QROPSA SOLUTION TO ENABLE UK PENSION FUNDS TO BE TRANSFERRED TO OTHER JURISDICTIONS WITHOUT

A UK TAX CHARGE ON THE TRANSFER VALUE

THE QROPS OPPORTUNITY APPLIES TO:

ANYONE WHO HAS LEFT THE UK OR IS THINKING ABOUT LEAVING THE UK AND

HAS A PERSONAL OR COMPANY PENSION SCHEME IN THE UK

A QROPS IS ALSO AVAILABLE TO THOSE WHOSE PENSION IS IN DRAWDOWN PROVIDING NO ANNUITY HAS BEEN PURCHASED

QROPS:THE REQUIREMENTS

THE RECEIVING PLAN MUST:

BE a recognised overseas pension scheme and have an HMRC QROPS number

ENSURE at least 70% of the transfer fund will be used to provide an income for life

UNDERTAKE to notify HMRC of any payment in respect of a member for 10 years from the date of transfer

QROPSTHE BENEFITS

POTENTIAL TO AVOID THE 55%1 UK TAX CHARGE ON DEATH

POTENTIAL TO SAVE BETWEEN 20% AND 45% TAX ON PENSION INCOME

UP TO 30% PENSION COMMENCEMENT LUMP SUM

ELIMINATE THE LTA (LIFETIME ALLOWANCE)

GREATER CONTROL OVER WHERE THE PENSION FUND IS INVESTED

ABILITY TO INFLUENCE THE INVESTMENT STRATEGY FOR THE

PENSION FUND

PENSION FUND CAN BE PASSED TO BENEFICIARIES ON DEATH

SIMPLICITY – NUMEROUS PENSIONS CAN BE CONSOLIDATED INTO ONE

QROPS

CHOICE OF CURRENCY OPTIONS TO HELP MITIGATE EXCHANGE RATE RISK

FINANCIAL FLEXIBILITY

1. On 19 March 2014, the UK budget announced that the 55% rate is to change, but as yet the new rate is undecided. There will be no change prior to 6 April 2015.

THE KEY ATTRACTION OF A QROPS

A key attraction for those who have been non-UK resident for at least five full UK tax years is that the pension fund becomes subject to some of the laws of the relevant overseas jurisdiction. This means that by transferring their pension, the individual can potentially avoid possible punitive UK tax charges including income tax between 20% and 45%, and possible tax charges to the fund on death (a potential charge of 55%1 once the pension is in drawdown)

1. On 19 March 2014, the UK budget announced that the 55% rate is to change, but as yet the new rate is undecided. There will be no change prior to 6 April 2015.

WHY STM GROUP

EXPERTISE – as one of the first multi-jurisdictional providers, they are experts and pioneers in the QROPS field

TRANSPARENT – listed on the London Stock Exchange

Offer a COMPLETE TAILORED solution

Offer a MULTI-JURISDICTIONAL SOLUTION for optimal tax efficiency

Offer a FIXED FEE SOLUTION, with no hidden charges

SCALE – over 50 dedicated staff in Malta and Gibraltar to ensure the efficient processing of your pension transfer

QUESTIONS?