What is a QROPS?

QROPS or Qualifying Recognised Overseas Pension Schemes were introduced in 2006 as a way for people who have paidqrops into UK private or company pensions to move their pension funds offshore.

Eligible schemes can be based in a number of jurisdictions but they must all meet the criteria set by the UK tax authorities, the HMRC.

QROPS hold many possible benefits for US residents including enhanced flexibility, taxation and investment advantages as well as the ability to pass the fund on to your heirs after death.

If you would like to explore transferring your UK pension into a QROPS then Expat & Offshore would be happy to recommend a specialist IFA.