QROPS: The pros and cons of transferring your UK pension
One of the many pension options available to British expatriates today is transferring to a Qualifying Recognised Overseas Pension Scheme (QROPS).
QROPS are foreign pension schemes recognised by HM Revenue & Customs (HMRC) to receive tax-free transfers from UK-registered pension funds. They were introduced in 2006 to help Britons who have permanently moved abroad simplify their affairs by taking their pension savings with them.
Despite being widely seen as the answer for expatriate retirees, QROPS are by no means a one-size-fits-all solution. Alliance partners and Overseas Pensions Experts, Blevins Franks, explore in this article some of the advantages and disadvantages of moving UK pensions to a QROPS.