QROPS in Europe | Services | Alexander Peter Wealth Europe

Transfer your UK pension to Europe using a QROPS

A qualifying recognised overseas pension scheme (QROPS) is an overseas pension scheme that HMRC recognises as eligible to receive UK transfers from registered pension schemes in the UK.

To qualify as a QROPS, the scheme must meet strict requirements set by HMRC or you may be subject to an overseas transfer charge. There are many pension schemes in Europe that have QROPS status. We can help you understand which is right for you and help you navigate the transfer from start to finish.

If you transfer to an overseas pension which isn’t a QROPS, this may be classified as an unauthorised payment from your pension. This could result in a tax charge of 55% and you may face additional penalties. Pension transfers are complicated, even when moving country isn’t part of the equation. We will help you identify the most suitable option with no cost or obligation to you.

QROPS and the lifetime allowance

If you have accumulated a UK pension fund that is close to or in excess of the lifetime allowance then a transfer to QROPS maybe a good way to mitigate this 25-55% tax charge or reduce the affect of the charge.

Getting the right advice is paramount to ensuring you don't pay more tax than is necessary. As well as providing expert advice our team will do all of the heavy lifting, when it comes to transferring your funds to a QROPS and providing you with ongoing investment management.

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