Advisors Worldwide

At Advisers Worldwide we can also assist expatriates who have left their pensions 'frozen' back in the UK. If you have worked in the UK at any point it is likely that your employer contributed to a pension scheme. When you leave to start anew and your pension is no longer actively receiving contributions it is referred to as a 'frozen' pension. Back in April 2006 HRMC announced that expatriates are able to move their pension into a Qualifying Recognized Overseas Pensions Scheme (or QROPS for short) when they move abroad.

This means if you have a frozen pension back in the UK worth over £50,000 which you have not drawn on you can explore ways to avoid having to pay any ongoing fees on that fund and place it into an offshore environment, however to qualify you must have lived outside the UK for at least 5 years, or intend to remain outside the UK for another 5 years. For more information you can speak with an Advisers Worldwid pension specialist.

Doing so can create massive benefits for your pension fund by decreasing the level of taxation applied and having more fund choices available to maximise growth. You also no longer have to buy any annuities on your pension fund, thus making it more cost effective by taking it outside of the UK tax jurisdiction.

QROP's Resource Guide for Expatriates

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