Recognized Overseas Pension Scheme (ROPS) – Is an overseas pension scheme that meets requirements set by the United Kingdom Her Majesty’s Revenue & Customs (HMRC). ROPS (formally known as QROPS), were established in April 2006 as a result of the EU freedom of capital movement.
For non EEA residents, UK pension transfers to ROPS requested on or after March 9, 2017 are subject to an overseas tax charge of 25% on the value of the pension transfer. As a result, specific advice needs to be taken on the right solution depending on country of residence and anticipated future moves.
Touchstone Advisory specializes in providing management services for existing ROPS that were transferred prior to the 25% overseas tax charge. We are a leading provider of ROPS management and financial planning services that can help maximise returns in the accumulation stage and maximise income in the drawdown stage.