UK OVERSEAS PENSION HELP

for foreigners settling in Thailand

Pension Transfer: QROPS Guide Thailand

If you are from the UK and you are thinking of moving to Thailand or you are here already, you can take advantage of changes in pension regulations from ‘A-Day’, April 6, 2006. You can now transfer your pension offshore to a tax beneficial jurisdiction such as Guernsey or the Isle of Man with the aid of QROPS specialists. We have listed some of the major benefits of a QROPS pension transfer below:

QROPS (Qualifying Recognised Overseas Pension Scheme) is a scheme in which you can transfer most types of UK pension offshore (e.g. Guernsey) in order to avoid buying an annuity and become tax efficient. It is designed for expats who live abroad and do not intend to return to live in the UK.Receive our no obligation pension assessment now from Bangkok Thailand. It is vitally important to choose a UK qualified financial adviser when reviewing your options and our experts have been in the business for years.

QROPS MEANS ( Quanlifying Recognised Overseas Pension Schemes) where Uk pensioners can move their pension to Thailand. UK Personal Pension funds can be transferred into QROPS either before the member takes pension benefit or even once they are receiving income from a Pension such as income drawdown currently in payment.

For a UK person to come to Thailand and bring their pension transferred to here they need to get permission from the HM Revenue & Customs in the UK. Yur intention to come to Thailand is to be a non resident of the UK? By removing yor pension from the UK system you avoid the risk of the fund being taxed when changes occur in the future. Therefore you stay on grandfather clauses.

If you leave in the Uk you will be taxed so it makes sense. You receive a tax free payment no over 30% of the fund value when you start. In the first 5 years any increase in payments must be advised to HM Revenueby the trustees but after 5 years you do not have to tell them.he can set up a company to buy into property & the higher the value the more he can invest into the same. Clients can appoint their own managers to assist them.If a client dies then after 5 years you pay no inheritence fee in the UK.

Benefits transferring UK pension to Thailand:

• No UK restrictions on the level of income taken at retirement after five full UK tax years. A principle of providing a lifetime income still applies.
• No requirement to buy an annuity at any age.
• On death pass the fund intact to spouse and heirs’ inheritance tax free

These are just some of the unique benefits plus the security and protection of dealing with a UK based and authorised FSA Regulated Independent Financial Advisory firm. Pension and investment values and income arising from them can fall as well as rise.

Australian Superannuation Scheme

If you are from the UK and wish to retire to Australia rather than Thailand or you are a non-UK citizen who has worked and amassed a pension in the UK who wishes to retire in Australia, you can move your pension to an Australian Superannuation Scheme which has been approved by H M Revenue & Customs to accept the transfer of pension funds from the UK.  To gain HMRC approval, the QROPS has agreed to adhere to certain reporting requirements within the first five complete UK tax years after a migrant has left the UK. If your UK pension fund is transferred to an Australian superannuation scheme which does not have QROPS status a tax charge of 40-55% will arise.....'

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Check this excellent article if you wish to invest your life savings into a fund management group. Handy article to know  

Our office can assist those wanting to borrow.

NOW YOU CAN EVEN POST YOUR OWN HOUSES  ON THE NEW THAILAND CLASSIFIED / AUCTION WEBSITE to buy or sell. Open to all businesses and private sales & buying advertise here.