Transfer your UK pension fund to approved LIC QROPS pension plan without any expense and deductions. We are experts in UK pension transfer and our services are free all over India.
You may want to tranfer your pension fund to Inidia as pension elligiblity age here is 40 unless you have to reitre to take pension fund benefts in UK.
We have helped Doctors, Engineers and UK government employees to get their anuity in India as early as possilbe and hassle free.Qualifying Recognised Overseas Pension Scheme (QROPS)
A QROPS is a medium of moving one’s UK pension corpus to a scheme administered outside the UK, that is more flexible and easily accessible for people who have retired abroad or are planning to do so.
All most all QROPS work in the same way as UK pensions –that is pension administrator (trustee) will manage the pension scheme on your behalf. For a QROPS the trustee must be based outside the UK.
A QROPS could be ideal if one:
Ø Is definitely intending to retire outside the UK and not return.
Ø Has a substantial amount invested in an existing UK pension scheme or has a smaller amount in his/her UK pension scheme but he/she is living and working abroad already and want to continue saving for their retirement.
Ø Has at least five years left before retirement
It could be better off with the QROPS for the following reasons:
Ø It adds extra flexibility and control on one’s pension corpus
Ø Increased flexibility over who can benefit from one’s pension fund following death of the pension account holder
Ø Reduce one’s exposure to sterling denominated funds and other pension restrictions
Benefits of a QROPS to INDIA with LIC.
In comparison to general UK pension rules, a QROPS could offer the following advantages, subject to local pension rules.
Ø It could avoid you needing to complete HMRC paperwork to get your pension paid without deduction of UK income tax.
Ø If you die whilst taking payments, the remaining funds are not lost. Your family will be able to inherit your pension benefits free of UK inheritance tax.
Ø A wider choice of investment opportunities- particularly useful if you want to invest in assets which reflect the currency and inflation factors where you plan to retire, rather than UK-baised choices.
Ø Only 70% of your transferred fund must be used to provide you with an income for life.
Ø No restrictions on fund size.Ø A QROPS transfer can reduce your income tax liability to ZERO. The pension is 100% YOURS.