What Are the Benefits of arranging a QROPS with AES International?

If you’re a British expat, you’ll know how important it is to consider your options fully when looking at your pension. Many of our overseas clients have chosen to transfer to a Qualifying Recognised Overseas Pension Scheme (QROPS) as there can be substantial benefits over other types of pension schemes.

  1. Possible larger tax-free lump sum – clients transferring to a QROPS can withdraw up to 30% as a tax free lump sum compared with 25% in the UK. Limits apply to this, and we are happy to discuss your individual circumstances and the best options in your case.
  2. Local tax laws apply to pension income with no double tax taken (subject to dual taxation agreement in place with QROPS jurisdiction) – unlike the UK where pension income is taxed at marginal rate, income from QROPS is taxed at whatever rate applies in the client’s country of residence. We work with clients all across the world and have experience in all major expat destinations.
  3. We provide specific advice on final salary schemes – these generous pension arrangements are being phased out in the UK be employers as they are often too costly to provide. Our expert team, who have won multiple awards for their high levels of service, can talk you through the circumstances in which transferring a final salary into a QROPS might be the right thing to do.
  4. Tax benefits on death – UK residents who die after the age of 75 face tax penalties if their pension is passed to a beneficiary. Often, these penalties do not apply to clients enrolled in a QROPS. This is a complex area of tax law, so we can discuss these matters with clients using online meetings to give advice on their needs.

If you’d like to discuss how we can help you with your QROPS needs, please contact us today for a fee-free initial meeting.


About AES Adviser

AES Adviser advises expatriate clients worldwide on all financial planning matters including wealth management, estate planning, offshore bank accounts, savings and investment, insurance, multi-generational wealth transfer and generating income, from wealth accumulated, to support retirement.