Originally Posted by number1marketing

Hi Nick

I have a lot of experience with QROPS, which started after A Day in the UK (April 2006) and was set up so people moving or that have already left the UK can transfer their UK personal or occupational pensions to an overseas pension scheme.

There are several reasons for doing this:

Once abroad, you can contribute to a UK pension, but you can to a QROPS (but there is no local tax relief).

There is no UK tax deducted from pension income from a QROPS, but depending where your QROPS is based (Isle of Man, Guernsey, Hong Kong and others) there could be local tax (but not in Gsy or HK).

There is no requirement to buy an annuity through a QROPS, instead, you can stay in drawdown (where your capital remains invested and you draw income from your capital) and your remaining capital is passed to your estate on death.

If you have been outside the UK for more than 5 years, you can claim up to 30% tax free cash through a QROPS, UK personal pensions are restricted to 25%

You could still have a French income tax liability on the income that you draw from a QROPS.

Beware of schemes offering 100% cash from your pension

The benefits of a QROPS depend on your individual tax position and the size of your fund.

I have a pdf quide to QROPS if anyone is interested?