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QROPS provides freedom for your future

Releasing your Pension

If you have moved from the UK permanently or at least for the long-term, it can be beneficial to transfer any frozen UK occupational pensions into a QROPS. The main benefits are 100% tax free withdrawal at just 55 years old, complete investment freedom, multi-currency options and no UK Inheritance Tax.

  • Decision Making

    Each person’s situation is different and so the merits of transfer need to be considered on a case-by-case basis. The only constant is that expert advice from an Independent Financial Adviser experienced with QROPS, such as Kastle Offshore, is essential before any decision to transfer is made. Some of the complexities can be best understood by reading the FAQs.

  • Benefits

    The potential benefits of transferring your Frozen UK pension Plan into a QROPS are, 100% Tax-free cash lump sum at 55 years old, No need to purchase an annuity, Tax efficient, Funds remain on death, No Inheritance Tax, Multi Currencies and Secure jurisdictions.

  • Investment Strategy

    As a QROPS is also a Lump Sum investment, all the comments in that section of the website also apply. In particular, a QROPS is likely to give access to a far wider choice of investments than a typical UK occupational pension provider, including access to Shariah Compliant Funds and so-called ethical investment funds.

Frequently asked questions

QROPS stands for a ‘Qualifying Recognised Overseas Pension Scheme’. To ‘Qualify’, the scheme has to meet HM Revenue and Customs rules to ensure that it should be properly and honestly managed and the scheme manager has to provide HMRC with specific information. To be ‘Recognised’, the scheme must be run as a pension scheme, and regulated as such, in the jurisdiction where it is established. To be ‘Overseas’, the scheme must be based outside the UK; and Kastle Offshore would recommend using well-regulated jurisdictions such as the Isle of Man, Gibraltar and Malta.

Not at all – that’s an often repeated myth! There are plenty of circumstances and reasons why transferring to a QROPS can be beneficial, not least of which is UK taxation.

No. Most public sector pensions can’t be transferred into a QROPS. We would also recommend caution before transferring a Defined Benefit pension into a QROPS, depending upon how well funded the scheme was and the transfer value offered. Similarly, a QROPS would usually not be economic if the total value of all pensions being transferred was much less than about £50,000.

Have more questions? Give our team a call.

Trusted by expatriates and internationals around the world:

  • "I gladly signed up..."
    Business Manager, Qatar

    I was introduced to Kastle Offshore from a friend who had been assisted by Martin in their financial planning. After receiving my financial plan, investment proposal and advice from Martin, I was more than confident in the service and advice provided, I gladly signed up for the investment with Martin and Kastle Offshore. Since making my investment, Martin has followed through on his promise, and has kept me regularly updated on my portfolio and the underlying investments. I am very happy with Martin's professional work ethic and I have no problem in recommending him to anyone who wishes to pursue bespoke financial & investment planning.

  • "excellent results..."
    Drilling Superintendent , Libya

    I first met Martin in Tripoli, Libya where he assisted me with my financial planning which has since provided excellent results. Martin is a professional financial advisor who provides regular financial reviews on my portfolio, and always makes himself available to answer any questions I may have. I look forward to continuing my working relationship with Martin and I am happy to recommend him to any professional colleagues.

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    Team Leader, Algeria

    Kastle Offshore is a professional financial advisory company whom has positive plans towards future. My advisor, Martin has clear objectives and has provided good results to my financial plan. I am so glad to know Martin and I am very pleased to recommend him to other professional colleagues.