September 2014 - QROPS Review

Sep 18 2014
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Boost for QROPS as HMRC Set to Apply Budget Flexibilities

Posted by | Offshore, Pensions | No Comments

Osborne QROPSWhen George Osborne announced plans for a new, flexible pension regime in his March 2014 Budget speech there was confusion as to how this would affect overseas pensions transfers and QROPS in particular.

However, new information has come to light suggesting that HM Revenue & Customs will seek to extend the new flexibility to Qualifying Recognised Overseas Pension Schemes (QROPS) as well.

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Sep 03 2014
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Higher SIPP fees lead to increased interest in QROPS

Posted by | Pensions | No Comments

FeesMany financial advisors are starting to report that they are seeing a significant uptick in the number of QROPS enquiries from holders of SIPPs.

A SIPP stands for a Self Invested Personal Pension Plan and it allows individuals a level of control over the investments in their pension.

From next year such pensions will have to hold a minimum of £20 000 in reserve. This is a result of the Financial Conduct Authority’s new capital adequacy policy which aims to makes these types of pensions more stable.

Unfortunately this will have the unintended affect of making them more expensive as the firms which run them raise their fees to compensate.

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