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

Summary

In brief some of the advantages of QROPS are:

• No requirement to purchase an insurance company annuity
• Discretion over distribution of residual fund upon death of member
• Greater flexibility on drawing benefits
• Income paid gross and not subject to Guernsey income tax (unless a Guernsey resident tax payer)
• No limit on contribution or fund size
• Assets held within a QROPS grow free of taxation
• No hidden penalties or charges
• Outside the influence of the EU

SIPP GUIDE for expats who wish to retire in the UK or abroad

For expats who intend to retire or return to the UK, a better option for you would be to move into a SIPP (Self Invested Pension Plan). This gives you some of the tax advantages of a QROPS, but is still held in the UK and is under UK pension jurisdiction. If you are unsure of where you want to retire, this is the option for you.

Benefits of a SIPP include:

• Freedom of choice of investment
• Zero capital gains tax and income tax
• Protected rights can now be transferred (S2P & SERPS)
• Tax free lump sum of 25% available
• No need to purchase an annuity
• Tax free pension, lump sum or reduced pension if ill

To follow QROPS & SIPP news and advice on twitter,

please go to twitter.com/QROPSAdvisor

QROPS (Qualifying Overseas Pension Scheme) is a way to retake control of your Uk pension overseas. UK pension regulations permit the transfer of UK pension rights to overseas schemes provided the overseas scheme is a QROPS. If you already in Thailand, Laos, Cambodia or Malaysia or intend to move here, a QROPS allows you to unlock your pension and obtain your pension cheques as per normal. Anyone that has worked in UK (even as a non-UK citizen) may be eligible for a pension transfer. QROPS is approved by HMRC & our pension specialist are UK experts based in Bangkok & can give you independent advice; Our recommendations are based on your needs and the specific pension particulars you have. A QROPS transfer give you tax benefits for plus other excellent benefits. 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.

[ Pension Guidelines ] [ Pension Info ]

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

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