• Company Profile
• Recruitment
• Link to usCustomer tools

QROPS

Qualifying Recognised Overseas Pension Scheme

Danniells Fox is proud to announce its association with Expat Pensions, the QROPS Pension Planning experts.

Expat Pensions is already helping a number of our clients in Mojacar and throughout Almeria to free up their pension fund and protect their future income from UK taxes and death duties.

QROPS (Qualifying Recognised Overseas Pension scheme) means you:

1. Can have immediate access to your 25 per cent tax free cash
2. Will never have to buy an annuity
3. Can reduce the tax on your income
4. Can pass on your pension fund on death with no IHT to pay
5. Have much greater investment freedom

RELEASING YOUR UK PENSION

The surge in the UK Stock Market through the 5,000 level this summer saw many people breath a sigh of relief as the value of their pensions showed a recovery to something like their original levels before the recession hit.

For many expats who are planning to spend the rest of their days abroad, the prospect of living on a much reduced pension income was something that did not bear thinking about.

In many cases, years of careful planning were under threat as the sums simply did not add up any more.

But if we have learned anything in the past 12 months it is the truth of the standard financial services warning that the value of your investments may fall as well as rise.

While some are optimistic that the rise in the Stock Market may continue unabated, let’s learn the lesson from the past 12 months and for the moment consider the view that a big correction in the market is a distinct possibility.

Which makes it a good time to take “stock” and consider your options.

The UK pension system becomes increasingly complex, no matter who is in government, and nothing any Government does has ever made life simpler.

Consider:

The Government has ruled that the age from when you can take your pension and its benefits will rise from 50 to 55 from April 2010.

Even if you do not wish or need to take your pension at present, do you want to be forced by the UK tax rules to buy an annuity by your 75th birthday?

Are you overly keen for your beneficiaries to have to pay 35 per cent tax on the lump sum payable should you die before drawing your pension?

Would you like your pension fund to be free from Inheritance Tax once you have lived outside the UK for five full tax years?

If you find yourself answering “Yes” to the above, and if you want to move your pension from the UK then please call Danniells Fox on 950478617 or email enquiries@danniellsfox.com to make an appointment.