cerise Posted August 19, 2008 Share Posted August 19, 2008 Firstly, forgive me if this has been discussed on this forum before, but I haven't been able to find anything.Anyway, I have only recently read the April 08 LF article by Jane Goodall, covering the subject of QROPS (qualifying recognised overseas pension schemes).Has anybody out there looked into this? How would you go about finding a QROPS provider with official QROPS status meeting HMRC's rules? many thanks Link to comment Share on other sites More sharing options...
Sunday Driver Posted August 20, 2008 Share Posted August 20, 2008 I used the little search box at the top of the page and typed in QROPS....It came up with these recent threads where it has been discussed:http://www.completefrance.com/cs/forums/1269117/ShowPost.aspxhttp://www.completefrance.com/cs/forums/1208058/ShowPost.aspxhttp://www.completefrance.com/cs/forums/1196911/ShowPost.aspxhttp://www.completefrance.com/cs/forums/1192384/ShowPost.aspxhttp://www.completefrance.com/cs/forums/1185841/ShowPost.aspxhttp://www.completefrance.com/cs/forums/1143853/ShowPost.aspx Link to comment Share on other sites More sharing options...
cerise Posted August 21, 2008 Author Share Posted August 21, 2008 Thanks Sunday Driver. Am new to this forum and see it is obvious now you've pointed it out.Have read all the threads and also 'googled' it, but at the risk of seeming thick, am still unclear as to who to approach to find a QROPS provider. Do I start with UK insurance Co.pension scheme funds are with? Or do I contact someone here in France who could advise as to which provider would be best. eg. a French one or Channel Isles one etc? If the latter, who? Link to comment Share on other sites More sharing options...
AnOther Posted August 21, 2008 Share Posted August 21, 2008 QROPS are very serious business and you really must seek independant and professional advice. The last person on the planet likely to give you the former will be the current holder of your pension funds and for the latter clearly someone well versed in French financial matters will be a sensible choice.There are one or two well known large companies on the scene providing advice although personally I tend to prefer smaller outfits for a more personal touch.Google 'French Financial Advisors QROPS' Link to comment Share on other sites More sharing options...
AnOther Posted August 21, 2008 Share Posted August 21, 2008 I found that THIS article gives a somewhat more balanced view of the pros and cons than many I have read.Note that several articles claim that you must have been UK non resident for 5 years BEFORE you can transfer to a QROPS - this is a falsehood. Five years is the current period under which a QROPS remains under HMRC scrutiny for compliance with the rules governing them. Link to comment Share on other sites More sharing options...
cerise Posted August 21, 2008 Author Share Posted August 21, 2008 Many thanks Ernie. Link to comment Share on other sites More sharing options...
AnOther Posted January 19, 2010 Share Posted January 19, 2010 I touched on the topic of QROPS in another thread and somebody asked for more info so I've resurrected this existing thread. Link to comment Share on other sites More sharing options...
lacote0_0 Posted January 20, 2010 Share Posted January 20, 2010 AnOtherThank you for reopening this thread.I understand you are about to take out a QROPS. If I may ask, with whom are you doing this? Do you have a link to their terms? Link to comment Share on other sites More sharing options...
AnOther Posted January 20, 2010 Share Posted January 20, 2010 I took some advice from the Spectrum IFA Group and found them prompt and helpful.I'd already pretty well decided that I was going to go for a QROPS and also an Assurance Vie into which I wanted to deposit some of the tax free lump sum I was taking so the advice I needed was to amplify my understanding of the schemes and which provider(s) to choose.I will PM you further details as I'd rather not publish them in open forum.Good luckErnie Link to comment Share on other sites More sharing options...
Mikep Posted January 20, 2010 Share Posted January 20, 2010 Has anyone looked at what happens to your QROPS if you back to the UK at some point in the future? Presumably the (inheritance tax) benefits are lost but the costs remain? Link to comment Share on other sites More sharing options...
AnOther Posted January 20, 2010 Share Posted January 20, 2010 It will depend on what the individual schemes rules and trustees allow. In my own case in that circumstance I could transfer my money back to any UK company which would accept it, or continue with draw down from where it is and declare it for tax. Flexibility is a key attraction and benefit of a QROPS and although there are annual costs to bear (typically up to £1000/pa) the one thing you will never have to do is kiss goodbye to your money by being forced to purchase an annuity at age 75.Sadly, in any case, you only get one bite of the tax free lump sum cherry [:(] Link to comment Share on other sites More sharing options...
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