If you have any information in relation to the QROPS market, either as a consumer, supplier, advisor, or member of the general public, please submit below. If you require further information on the QROPS market, please complete an enquiry below.
There is no significant change to the number of Maltese schemes, which have been largely unaffected by the new QROPS legislation. To view the latest HMRC QROPS list, click here
2012-04-15 | 0 Comments
HMRC has informed Guernsey officials that going forward, Guernsey pension providers will only be permitted to accept transfers of the UK pensions of Guernsey residents, a Guernsey government statement has revealed. In a statement issued yesterday, Guernsey’s Treasury & Resources office said that HMRC’s revised list of approved QROPS – to be published on Thursday – “will only include a Guernsey scheme if the HMRC is satisfied that the scheme is ‘residents-only’”.
This is important news for many expats in Spain, as Guernsey is a common jurisdiction for QROPS. We will be launching details of a reliable Malta based QROPS in coming weeks.
2012-04-10 | 1 Comments
2011-03-09 | 1 Comments
Skandia International and Concept Group have lowered the charges on their joint QROPS proposition amid growing price competition in the sector. The change comes in the wake of Close, a leading mass market rival to Concept, reducing its own product fees to what were believed to be – for a few days at least – the cheapest available. The new charges on the Skandia/Concept Group Aurora Quantum product are a set-up fee of £645 and annual administration charge of £845. Both were previously £995. Close last week cut its establishment charge to £750 and annual administration fee to £1,000. Combined, this figure is now £260 more than that of the equivalent new Skandia/Concept cost. Close does, however, offer a product in which the annual and establishment fees are each £300. In this product the investment choices are limited to Close’s own funds.
2011-02-08 | 0 Comments
2011-01-19 | 2 Comments
A group of what has been described “senior advisers” in the country has established a working party through which it hopes to clean-up parts of the QROPS industry. The group will primarily target other advisers and pension schemes that are promoting New Zealand QROPS as a means for savers to receive 100% of their pension pot in a tax-free lump sum. Those responsible for the initiative fear such activities could see their country suffer the same fate as Singapore, which in 2008 effectively had its status as a permissible QROPS jurisdiction withdrawn by HMRC.
2010-12-09 | 296 Comments