QROPS Advice – Helping people to move their UK pension - Blog India

Quite a large number of Indian nationals are working in the UK and there are chances that after retirement they might plan to settle in India. However, the biggest challenge they face in their decision of returning to India is managing and planning their finances, especially their pensions. But the good news is that HMRC has allowed pensions to be transferred via a QROPS arrangement since April 2006, which allows people working in the United Kingdom to transfer their pension benefits to overseas pension schemes including India, that are recognised by HMRC. The QROPS is a HMRC-recognised scheme that accepts UK pensions and provides numerous tax and investment benefits versus leaving the pension in the UK.

Moving pension fund into a specialist QROPS will not only provide tax relief to people but will also maximise their income. It is often seen that people are not completely aware of this scheme and hence they are unable to take sound and health decision. Such people require unbiased and genuine advice from a competent and professional company that can help them take a sound decision.

QROPS is not just a pension but it is a hard earned accumulated wealth of the people, which they have saved in their job period. Thus, seeking right advice from a knowledgeable and experienced QROPS advisor in India will take them towards a comfortable retirement. The QROPS advisors of India will ensure that people make the right decision regarding their UK pension.

QROPS advisors in India work with the sole intention of helping Indian residents and returning NRI’s to avail best benefits from their UK pension amount. However, people need to be careful while selecting advisor in India because some of the advisors have little knowledge about the global QROPS market and they end up giving wrong and unhealthy advice. People must always select knowledgeable and experienced advisors having complete knowledge and should be aware of different schemes available in the market today. Many advisors might advise people that they could transfer their UK pension only into a local Indian based QROPS whereas, in reality, people can transfer their pension in different QROPS of different jurisdictions. There are a number of substantial benefits, which people can avail if they transfer their pension in a right QROPS. It is the duty of the QROPS advisors to consider QROPS of different jurisdictions to determine the most suitable one for their clients.

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