What is QROPS?

Understanding the Qualifying Recognised Overseas Pension Scheme

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Information on QROPS

QROPS (Qualifying Recognised Overseas Pension Scheme) facilitates pension transfers between the UK and other countries, such as Canada, that meet the requirements of the UK HMRC. 

The scheme is suitable for you if you have lived and worked in the UK and you now reside in Canada.

You may also be planning to relocate to Canada within the next few years, or perhaps you're planning to retire to Canada. 

Transferring your pension to Canada makes sense if you want to have your pension funds in the country that you live in and hold your money in Canadian dollars too. 

By transferring your UK pension to Canada, you benefit in several key ways. These may include:

● Capitalising on market growth potential
● Get access to a wide range of funds and more control over your investments
● Grow your pension faster
● Possibility to simplify managing your retirement savings by consolidating more than one pension
● Tax-free transfer of pension funds to your surviving spouse if you pass away
● No risk of losing money through exchange rates in the future
● More flexibility concerning when you withdraw your pension funds
● Creditor protection

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We can help you transfer your pension from the UK to Canada
under the Qualifying Recognised Overseas Pension Scheme

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Transferring your UK pension to Canada using QROPS gives you more options for managing your retirement funds and is far more tax efficient.  However, before you transfer your pension, you need to make sure you receive the right advice and support. 

When you use a professional pension transfer service, you can guarantee that you're making the right choices and that you are able to transfer your pension in the most tax-advantageous way. 

We can help both ex-pats who are Canada-resident UK citizens and Canadians who have returned home after spending a significant period of time working in the UK. If you hold a UK pension, are over 55, and intend to live in Canada for at least five years, you can benefit from transferring your pension.