| QROPS is one of the best pension options for UK | | | | Customs and Revenue. Thus, this pension fund |
| citizens who are planning to move abroad without | | | | benefit is enabling them to save and spend |
| hampering their monthly incomes. | | | | systematically to reap better benefits in the |
| QROPS helps citizens to get the maximum benefit | | | | future. |
| from their pension schemes by following certain | | | | International workers or expats can benefit |
| guidelines. It is especially designed for those who | | | | hugely by opting for QROPS if they are planning |
| opt to stay abroad and enjoy the benefits of | | | | to settle abroad after retirement. The advantages |
| pension that they get in their own country. It is | | | | of this scheme are many. Some are even taking |
| also quite useful to those who are willing to invest | | | | full control of their savings from retirement by |
| part of their pension funds to get maximum post | | | | opting for investment plans that are flexible in |
| retirement benefits. | | | | various markets and currencies, including markets |
| However, there are certain QROPS myths which | | | | that are not available to pension holders in the UK. |
| most of us are not aware of. It is widely | | | | Maximum benefits can be reaped by opting for |
| assumed that the investors are eligible only to | | | | wealth-increasing plans offered under this scheme |
| receive 30% of their total pension funds and that | | | | within the boundaries of an economy that offers |
| HM Customs and Revenue are the ones who | | | | investors multiple tax benefit options. Members of |
| recommend the pension providers and it is only | | | | this scheme can increase their power of spending |
| accessible to people who are rich. However, this is | | | | by paying through major currencies to avoid |
| not true. The advantages of QROPS are many | | | | fluctuation rates on currency exchanges. |
| and it offers pensioners with retirement | | | | QROPS prevents investors from paying for an |
| investment opportunities that are flexible and | | | | annuity out of their pension savings. It helps |
| provides tax benefits to all UK citizens. | | | | pensioners to transfer their benefits to their |
| Statistics show that there were 7,300 pensions | | | | nominees without paying inheritance taxes that |
| between April 2006 and April 2008 which had a | | | | are levied on the death of the pensioner. It also |
| total valuation of 0.5 billion pounds which was | | | | provides the pensioner with greater flexibility, as |
| routed to a QROPS. Another striking statistic is | | | | well as accessibility, to get the fund in the form of |
| that investors are saving nearly 1 million pounds, | | | | cash, which allows the users to have greater |
| which otherwise, would have been paid to the HM | | | | liquidity in their hands. |