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QROPS


vick

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QROPS could indeed be useful if you have not already settled in France as a way to protect sterling income against euro consumption. But of the 13 listed by HMRC many are for international corporate staff. Better possibly is an offshore one: see in the HMRC list under Guernsey, Jersey and Isle of Man. Some of course only for the super-rich. A lot of legwork needed, or pay an adviser a barrowload I expect.
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QROPS sound interesting as a means of passing pension funds on to children - but have any french residents any experience of them? It appears that it might be less expensive to retain a low-cost UK-based SIPP for the time being, and transfer to a QROPS at age 75. Anyone see any snags with this (apart from dying too soon!)?

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  • 3 weeks later...
Search QROPS on Google. There are some schemes that take your money around the world.  Best avoided me thinks !  Charges seem to be reasonable although some companies seem to be cagey. Most UK companies were great and explained QROPS are simpler to adminsister than a UK Pension so why pay lots. At first I looked at country going to be resident in (France or Spain) but as far as I can see better to use Channel islands or Isle of Man. The QROPS in European countries seem to be for company employees. It's nice to have a scheme at last where you can take responsibility for money. Why on earth should we be told to buy an annuity by 75 years. I for one have signed up. The advisers are worried that QROPS rules will change soon because of misuse of them, so may only be a short window.  
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Thanks for the input - could I ask what sort of fees you pay on your QROPS?

I moved my SIPP to Alliance Trust in Dundee a couple of years ago because they charge a low flat fee, rather than a percentage of fund value. I wouldn't want to move back to (say) 1% per year or more.

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