QROPS - Making your pension more tax efficient (Lisbon)
The hottest topic over the past few years is QROPS, which stands for Qualifying Recognised Overseas Pension Scheme.
For more information contact one of our advisers on Protected content Protected content
Access your money either as a lump sum or as an income in a tax efficient manner, with the potential of drawdown 100% tax-free
Option to start drawing down your pension at the age of either Protected content Protected content 55 without the need to purchase an expensive annuity or pay UK tax charge upon death (QROPS).
No need to purchase an annuity even when your age 75 and a UK resident
Take income and benefits in the currency of your choice
Leave part or all of your unused pension funds to your beneficiaries free of tax at source, depending on age at death and residence.
Allows you to take control of where your money is invested, providing you with investment freedom and the option of ensuring your capitals securely protected.
You can chose which assets you hold - including onshore/offshore funds, fixed deposit rates, giving you the ability to create a well balanced and diversified portfolio.
QROPS drawdown is paid gross if you have lived outside the UK more than 5 years.
Allows up to 30% lump sum available at age 50 or 55 after April Protected content of UK tax.
0% tax charge on death pre retirement or below the age of 75
QROPS beneficiaries can avoid or dramatically reduce the UK’s 55% tax on death charge.