While the BHS pension situation has hit the headlines, the number of defined benefit pension schemes that are running a pension deficit have been growing over recent years, all the while the pension deficits themselves continue to increase. While the pension regulators are doing all they can by working alongside the firms running the pension […]
Defined benefit pension schemes are often referred to as final salary pension schemes and is a pension scheme that promises to pay an income based on your final salary when you left the company/retired from that company. Unlike other schemes, the amount you’ll receive in your retirement is guaranteed, paid directly to you based on […]
As the name suggests, a Self Invested Personal Pension (commonly called a SIPP) enables someone to investment into a pension for retirement, but making their own decisions about the investment options held within or, in most cases, have access to greater investment choices when dealing with financial advisors. In a nutshell, a SIPP carries the […]
A QNUPS is a Qualified Non-UK Pension Scheme which was introduced by HMRC in February 2010 and is a regulated tax efficient pension scheme which allows investment of wealth overseas. Although a QNUPS is a pension fund it does have a degree of flexibility and has some significant tax advantages. Anyone is eligible to invest […]
This detailed overview of QROPS is designed to provide an independent overview of QROPS and overseas pension transfers. A Qualifying Recognised Overseas Pension Schemes, or QROPS, is an overseas pension scheme that meets certain requirements set by HM Revenue and Customs (HMRC). A QROPS can receive the transfer of UK Pension Benefits in the vast […]