If you are switching money between pensions to a SIPP or Qualifying Recognised Overseas Pension Scheme (QROPS), you need to know who you are dealing with. Besides a home, a pension probably represents the largest single amount of money most people have, and ensuring financial advisers are honest and trustworthy is a priority before handing […]
Retirement Articles
How To Speed Up Your QROPS Transfer
June 22, 2016
International IFAs are grumbling about Qualifying Recognised Overseas Pension Scheme (QROPS) rule changes that mean some transfers take up to six months. The new rules require a UK regulated IFA to review offshore IFA advice to expats transferring final salary pensions to QROPS. They are complaining that the rule means pensions transfers are slowed down […]
What Can A QROPS Pension Do For Me?
May 19, 2016
Forget the glossy brochures and time sifting through technical information and get to the nitty gritty – what can a QROPS do for you? Well, you gain all the benefits of a UK personal pension and then some. Four key points to think about are these: 30% tax-free lump sum While your UK pension is […]
120,000 Savers In Rush To Take Pension Cash
April 12, 2016
The first official independent figures detailing how new pension freedoms are working for consumers have been released. The Financial Conduct Authority (FCA), the pension industry regulator has put the data together for the first three months of pension freedom, which started on April 6, 2015. The figures show: 204,581 pensions have been accessed by consumers […]
Pension Freedom – Taxing Your Retirement Cash
January 11, 2016
Working out how much pension cash you will actually have can be rather taxing. Remember that the following tax rules apply to UK taxpayers and that expats who are tax resident elsewhere will have a different pension tax regime. They should take local professional financial advice about the best way to take their pension cash. […]
Pension Freedom – How To Pay Less Tax
November 28, 2015
Pension providers must deduct income tax from any payments they make to you in the same way an employer takes tax and national insurance from your salary. This can trigger tax issues for some retirement savers if the tax due on any pension withdrawal is set off as an emergency tax because the personal allowance […]