Do you live or work in Romania? Wondering how to transfer your UK pensions?

Is a QROP or a SIPP right for me while I’m living in Romania?

QROPS (Qualifying Overseas Pension Schemes) or SIPP (Self Invested Personal Pensions) allow for the transfer, and subsequent management of United Kingdom (UK) pensions to a personal pension structure. This includes UK frozen pensions.

It will allow you to consolidate all of your current pensions into a single pension structure.

If you have savings in an existing UK pension fund but are considering retiring in Romania or abroad, you may be wondering just how easy it will be to access these funds. The dreams of a more relaxed lifestyle or the attraction of lower tax could soon fade if you have to work around pension rules more relevant to UK.

However, if you already live outside the UK, or you’re planning to move overseas shortly for a period of five years or more, you can use a QROPS to transfer your pension arrangements abroad. If your intention is to retire in the UK a SIPP structure would be more suitable.

Benefits:

• No 55% tax charge for beneficiaries (QROPS)

• Consolidate several pensions into one pot/place (Including personal & employee based schemes)

• No annuity purchase necessary

• A QROPS can provide for your family, it is possible to use up to 100% of the fund to provide a spouses pension

• 100% of pension pot can be left for beneficiaries

• Wider range of investments to choose from

• Tax free lump sum

• Receive pension income free from UK income tax (QROPS)

• Low cost charging structures available

What you should consider before choosing a QROP or a SIPP?

• Residency considerations: do you expect to return to the UK to retire or for long periods of time in the future?

• Existing pension arrangements:

- Is your current pension plans worth less than £75,000?

- Are you current pensions defined benefit schemes?

- Do your existing schemes include benefits such as spouse’s pension, life cover, competitive charges?

Harrison Brook Online helping you make the best choices:

UK pension transfers are a growing market, and new QROPS/SIPP providers are appearing regularly. Talk to a financial adviser to make sure you choose the most appropriate jurisdiction and QROPS or SIPP provider for your needs. Additionally your SIPP or QROPS will include different kinds of investments, it is crucial to speak to a financial adviser to match your investment portfolio to your risk profile and growth expectations.

Why choose Harrison Brook Online for your pension transfer?

Harrison Brook Online has been recognised by The Sunday Times Virgin Fast Track 100, as the fastest-growing UK financial services business. In 2013, AES was also awarded Investors in People Champion status, joining the top 1% of all IIP-accredited businesses. The company’s approach is strongly differentiated from its peers. As multi-award winning independent specialists with a global perspective, Harrison Brook Online seeks to export UK best practice into the international marketplace, always focusing on quality.

‘AHarrison Brook Online’ is the trading style of a multi-award winning financial services group that is licensed for investment and insurance business in over 34 jurisdictions worldwide.

How do you get started and take the first step?

To get the latest valuations of your pensions and to discuss a pension transfer, including the benefits if a QROP or a SIPP is the solution for your pension planning get in touch today:

Harrison Brook Online

Ryan Frost – Private Client Adviser

Email -  ryan.frost@harrisonbrook.co.uk

Telephone - +447943508869 / +44152436298

Website – www.harrisonbrook.co.uk

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