International Open Pension (Full QROPS)
London & Colonial’s International Open Pension is a Gibraltar based Qualifying Recognised Overseas Pension Scheme (QROPS) for those seeking greater control and flexibility of their pension fund.
It is primarily aimed at individuals with existing UK pension fund(s) and would benefit from transferring their pension fund overseas and/or for those who may already have funds invested in a QROPS, but are looking to switch providers.
It is recognised by HM Revenue and Customs as a pension scheme that can accept transfers from a UK pension scheme, without incurring an unauthorised payment tax charge.*
Individuals currently working in the UK, and who are planning to return back to their country of origin, may also benefit from transferring their funds to an International Open Pension.
For more information concerning the International Open Pension, click here to access the product downloads.
* Please Note: Any transfer from a UK registered pension scheme into a QROPS will be classed as a benefit crystallisation event. It will therefore, be tested against HMRC’s current Lifetime Allowance. In the event that this Lifetime Allowance is exceeded a tax charge will apply.
London & Colonial do not provide either financial or investment advice and this type of service is not suitable for everyone which is why we recommend that all applications should be made via a Financial Adviser.
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To discover for yourself how our innovative range of pension wrappers can benefit both you and your clients, call us on:0203 479 5505