As an expatriate, isn’t a QROPS always the best option for a UK pension transfer?

27 March, 2017

Before determining what type of pension transfer is most appropriate for a person, it is important for an advisor to understand the person’s retirement needs and objectives. In addition, consideration needs to be given to the person’s country of residence, which can have tax implications in relation to how the transfer is treated by the UK and local tax authorities. A QROPS is not therefore, always the best option for a client. In addition, for US residents/taxpayers, there are significant US and UK tax implications associated with undertaking a transfer from a UK pension to a QROPS which should be fully considered with a tax advisor.