QROPS France

Qualifying Recognised Overseas Pension Schemes in France

By

Des Cooney of Axis Strategy Consultants: www.axis-finance.com

France as a retirement destination

1. There are an estimated 300,000 British expatriates living in

France

2. France is relatively less expensive than the UK to live in

3. Retired Brits are entitled to some public health care

benefits.

Use of QROPS in France

1. QROPS are HMRC approved vehicles used by expatriates

to transfer UK pension funds abroad

2. You can take up to 30% of your pension fund as a lump

sum on retirement

3. You can take income and benefits in the currency of your

choice

Who is eligible for a pension transfer?

1. A UK national moving / retiring to France

2. Any national who has built up UK pension benefits and is

now resident or intending to become resident in France

What type of pensions can be transferred

to a QROPS?

1. Personal Pensions

2. Final Salary Pensions

3. Money Purchase Schemes

4. Civil Service Pension Schemes

Criteria for a scheme to qualify as a

QROPS

1. The pension scheme must be established outside of the

UK

2. It must be recognised for tax purposes in the country

where it is located

3. It must be regulated in the country in which it is

established

Who is not eligible for QROPS?

1. Any pension which has previously been used to purchase

an annuity

2. Any pension that has already taken payment from a ‘final

salary scheme’

3. UK State pensions

QROPS list

1. HMRC has compiled an approved list of jurisdictions

offering QROPS

2. Malta is favoured by European-based expats as it has 59

double-taxation agreements with other countries including

UK and France

Age that benefits can be taken

1. Benefits, including lump sum payments, from the

transferred funds may not be distributed earlier than the

age of 55

2. An individual must have been a non-UK resident for five

complete tax years before accessing benefits

How long will a transfer to a QROPS take?

1. UK pension transfers generally take 2-3 months to

complete

2. A letter of authority is required, empowering your adviser

to request information from the pension provider on

current pension benefits and the transfer value

*

Visit our website

for a free QROPS Guide

www.axis-finance.com/free-qrops-guide/