QROPS interest grows following UK pension ‘frustrations’

QROPS interest grows following UK pension ‘frustrations’

By Daniel Flynn

Justin Harris, managing director at Switzerland-based advice firm Chase Belgrave, said many UK pension holders are not granting customers the rights due to them under the new pension liberation regime which enabled 100% withdrawals from UK pension pots.

As a result, he said the company has seen a large increase in enquiries about Qualifying Recognised Overseas Pension Schemes as UK pension holders “rush to transfer pensions away from the UK as quickly as possible”.

“There is a large group of people who had been holding off transferring their pensions who have been disappointed and frustrated by their inability to benefit from the pension freedoms they were promised,” he said.

“The good news is that a QROPS can deliver the tax efficient, flexible and cost effective means to access pensions that savers around the world are looking for.”

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