Financial experts feel that interest and sales in QROPS (Qualified Overseas Pensions Schemes) are set to increase for the second year running.
A recent survey amongst financial advisers showed that the majority of advisers predict continued and increased interest in the offshore pension scheme. Out of the 330 advisers quizzed, 68 percent expected to write up more QROPS contracts, 28 percent believe they will write the same amount and 4 percent believed the number would decrease.
QROPS are becoming ever popular as the United Kingdom continues to restrict the earning power of its citizens.
One of the advisers who took part in the survey said: “As knowledge and awareness improves around the benefits and potential suitability of QROPS it does not surprise me that advisers are predicting a further surge in the use of the schemes in the coming year. QROPS have become an integral part of the international advisers' advice process and therefore the popularity among overseas clients with UK pensions schemes will, in my view, continue to grow not just now but beyond the next 12 months as well.”
The QROPS represents a fantastic opportunity for UK citizens who are leaving, or have left, the UK. It enables UK pension holders to transport their pension offshore, and thus make considerable savings by legitimately avoiding UK taxes.
If you feel that a QROPS may be of benefit to you, get in touch with a recommended financial adviser today for more information.