Qualified Recognised Overseas Pension Schemes – QROPS
These multi‑member schemes are accepted by UK HMRC as Qualifying Recognised Overseas Pension Schemes (“QROPS”) and therefore are able to accept UK registered pension transfers. Both Guernsey residents and non‑Guernsey residents may benefit from these QROPS accepted schemes as they can be beneficial when wishing to consolidate pension provisions.
These schemes are designed to facilitate UK pension transfers.
- No requirement to purchase Insurance Company annuity;
- Pension assets are held as part of a trust structure with the trust having legal ownership and therefore upon the member’s death any residual value may be paid to the member’s nominated beneficiaries;
- Access to Gower Group services.